Turning Point Brands (NYSE:TPB) Trading Up 4.3% – Should You Buy?

Turning Point Brands, Inc. (NYSE:TPB)’s stock price traded up 4.3% during mid-day trading on Thursday . The stock traded as high as $57.58 and last traded at $57.39. 73,975 shares traded hands during mid-day trading, a decline of 38% from the average session volume of 118,495 shares. The stock had previously closed at $55.00.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on TPB shares. Roth Mkm started coverage on Turning Point Brands in a research note on Thursday, September 19th. They set a “buy” rating and a $50.00 target price on the stock. Roth Capital upgraded Turning Point Brands to a “strong-buy” rating in a research report on Friday, November 8th. Oppenheimer assumed coverage on Turning Point Brands in a research note on Thursday. They issued an “outperform” rating and a $65.00 price objective for the company. StockNews.com cut Turning Point Brands from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 24th. Finally, Benchmark upped their price objective on Turning Point Brands from $45.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $60.00.

Turning Point Brands Stock Up 5.5 %

The firm has a 50-day simple moving average of $43.81 and a 200 day simple moving average of $38.02. The company has a debt-to-equity ratio of 1.33, a current ratio of 4.21 and a quick ratio of 1.17. The company has a market capitalization of $1.03 billion, a PE ratio of 23.49 and a beta of 0.63.

Turning Point Brands (NYSE:TPB) last announced its earnings results on Thursday, November 7th. The company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.01. The company had revenue of $105.62 million during the quarter, compared to the consensus estimate of $100.71 million. Turning Point Brands had a return on equity of 33.14% and a net margin of 11.63%. The company’s revenue was up 3.8% on a year-over-year basis. During the same period last year, the firm earned $0.69 earnings per share. On average, research analysts predict that Turning Point Brands, Inc. will post 2.62 EPS for the current fiscal year.

Turning Point Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 20th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.28 annualized dividend and a yield of 0.48%. Turning Point Brands’s dividend payout ratio is 11.11%.

Insider Activity at Turning Point Brands

In other Turning Point Brands news, Director Gregory H.A. Baxter sold 2,000 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $39.42, for a total value of $78,840.00. Following the completion of the sale, the director now owns 46,544 shares of the company’s stock, valued at $1,834,764.48. The trade was a 4.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 5.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Turning Point Brands

Large investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC purchased a new position in Turning Point Brands during the first quarter valued at approximately $64,000. BNP Paribas Financial Markets lifted its holdings in shares of Turning Point Brands by 6.8% in the 1st quarter. BNP Paribas Financial Markets now owns 18,159 shares of the company’s stock worth $532,000 after acquiring an additional 1,159 shares during the last quarter. Sei Investments Co. lifted its holdings in shares of Turning Point Brands by 6.1% in the 1st quarter. Sei Investments Co. now owns 111,958 shares of the company’s stock worth $3,280,000 after acquiring an additional 6,470 shares during the last quarter. Lord Abbett & CO. LLC increased its stake in shares of Turning Point Brands by 45.2% in the first quarter. Lord Abbett & CO. LLC now owns 255,309 shares of the company’s stock worth $7,481,000 after buying an additional 79,489 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of Turning Point Brands by 6.6% in the first quarter. Vanguard Group Inc. now owns 1,497,110 shares of the company’s stock worth $43,865,000 after buying an additional 92,147 shares during the period. Hedge funds and other institutional investors own 96.12% of the company’s stock.

Turning Point Brands Company Profile

Turning Point Brands, Inc, together with its subsidiaries, manufactures, markets, and distributes branded consumer products. The company operates through three segments: Zig-Zag Products, Stoker’s Products, and Creative Distribution Solutions. Zig-Zag Products segment markets and distributes rolling papers, tubes, finished cigars, make-your-own cigar wraps, and related products, as well as lighters and other accessories under the Zig-Zag brand.