Turning Point Brands (NYSE:TPB) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of Turning Point Brands (NYSE:TPB) from a strong-buy rating to a buy rating in a research note released on Friday.

TPB has been the topic of several other research reports. Roth Mkm initiated coverage on shares of Turning Point Brands in a research report on Thursday, September 19th. They issued a buy rating and a $50.00 target price on the stock. Benchmark reissued a buy rating and issued a $45.00 price target on shares of Turning Point Brands in a research note on Friday, August 2nd. Finally, Roth Capital raised shares of Turning Point Brands to a strong-buy rating in a research note on Thursday, September 19th.

Turning Point Brands Stock Up 0.4 %

Shares of NYSE TPB opened at $42.09 on Friday. The company’s 50-day simple moving average is $38.55 and its 200-day simple moving average is $33.59. Turning Point Brands has a 52-week low of $19.67 and a 52-week high of $42.63. The firm has a market cap of $741.71 million, a price-to-earnings ratio of 18.54 and a beta of 0.62. The company has a quick ratio of 1.17, a current ratio of 1.80 and a debt-to-equity ratio of 1.43.

Turning Point Brands (NYSE:TPB) last announced its earnings results on Thursday, August 1st. The company reported $0.82 earnings per share (EPS) for the quarter. Turning Point Brands had a net margin of 11.36% and a return on equity of 36.11%. The business had revenue of $108.51 million for the quarter.

Turning Point Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, September 13th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.67%. The ex-dividend date is Friday, September 13th. Turning Point Brands’s dividend payout ratio is currently 12.33%.

Insider Transactions at Turning Point Brands

In other Turning Point Brands news, Director Gregory H.A. Baxter sold 2,000 shares of Turning Point Brands stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $39.42, for a total transaction of $78,840.00. Following the transaction, the director now directly owns 46,544 shares of the company’s stock, valued at $1,834,764.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 5.20% of the company’s stock.

Hedge Funds Weigh In On Turning Point Brands

Institutional investors have recently bought and sold shares of the company. GSA Capital Partners LLP purchased a new stake in shares of Turning Point Brands in the 1st quarter valued at approximately $1,587,000. Harspring Capital Management LLC purchased a new stake in shares of Turning Point Brands in the 4th quarter valued at approximately $2,101,000. Lord Abbett & CO. LLC raised its stake in shares of Turning Point Brands by 45.2% in the 1st quarter. Lord Abbett & CO. LLC now owns 255,309 shares of the company’s stock valued at $7,481,000 after acquiring an additional 79,489 shares during the period. Boston Partners purchased a new stake in shares of Turning Point Brands in the 1st quarter valued at approximately $964,000. Finally, Tidal Investments LLC purchased a new stake in shares of Turning Point Brands in the 1st quarter valued at approximately $1,661,000. 96.12% of the stock is owned by hedge funds and other institutional investors.

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.