Turning Point Brands (NYSE:TPB) Sets New 52-Week High – Here’s Why

Turning Point Brands, Inc. (NYSE:TPB)’s stock price reached a new 52-week high during trading on Thursday . The stock traded as high as $64.57 and last traded at $64.32, with a volume of 3973 shares changing hands. The stock had previously closed at $63.27.

Analysts Set New Price Targets

A number of equities analysts recently commented on TPB shares. Roth Mkm began coverage on Turning Point Brands in a research report on Thursday, September 19th. They set a “buy” rating and a $50.00 price objective on the stock. Oppenheimer initiated coverage on Turning Point Brands in a report on Thursday, November 14th. They set an “outperform” rating and a $65.00 price target on the stock. StockNews.com lowered shares of Turning Point Brands from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 24th. Roth Capital raised shares of Turning Point Brands to a “strong-buy” rating in a research note on Friday, November 8th. Finally, Benchmark increased their price target on shares of Turning Point Brands from $45.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $60.00.

Turning Point Brands Stock Performance

The company has a current ratio of 4.21, a quick ratio of 1.78 and a debt-to-equity ratio of 1.33. The firm’s fifty day moving average price is $50.20 and its 200 day moving average price is $41.03. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of 25.13 and a beta of 0.66.

Turning Point Brands (NYSE:TPB) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.67 by $0.01. Turning Point Brands had a return on equity of 33.14% and a net margin of 11.63%. The business had revenue of $105.62 million during the quarter, compared to analyst estimates of $100.71 million. During the same period last year, the business posted $0.69 earnings per share. The company’s quarterly revenue was up 3.8% on a year-over-year basis. Analysts forecast that Turning Point Brands, Inc. will post 2.59 EPS for the current fiscal year.

Turning Point Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 20th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.42%. The ex-dividend date is Friday, December 20th. Turning Point Brands’s dividend payout ratio is currently 11.11%.

Institutional Trading of Turning Point Brands

Several hedge funds have recently made changes to their positions in TPB. Vanguard Group Inc. boosted its stake in shares of Turning Point Brands by 6.6% in the 1st quarter. Vanguard Group Inc. now owns 1,497,110 shares of the company’s stock valued at $43,865,000 after buying an additional 92,147 shares during the period. Dimensional Fund Advisors LP lifted its stake in Turning Point Brands by 1.0% in the second quarter. Dimensional Fund Advisors LP now owns 460,764 shares of the company’s stock worth $14,785,000 after acquiring an additional 4,600 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Turning Point Brands by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 405,613 shares of the company’s stock valued at $17,506,000 after purchasing an additional 15,344 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Turning Point Brands by 21.1% in the 2nd quarter. Renaissance Technologies LLC now owns 302,697 shares of the company’s stock valued at $9,714,000 after purchasing an additional 52,800 shares in the last quarter. Finally, Aristides Capital LLC lifted its position in shares of Turning Point Brands by 6.3% during the 2nd quarter. Aristides Capital LLC now owns 202,984 shares of the company’s stock worth $6,514,000 after purchasing an additional 12,041 shares during the last quarter. Institutional investors and hedge funds 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.