Turning Point Brands (NYSE:TPB) Given Buy (B) Rating at Weiss Ratings

Weiss Ratings reaffirmed their buy (b) rating on shares of Turning Point Brands (NYSE:TPB) in a report released on Thursday,Weiss Ratings reports.

Other analysts also recently issued reports about the company. Needham & Company LLC began coverage on Turning Point Brands in a research report on Friday, August 1st. They issued a “hold” rating for the company. Zacks Research cut Turning Point Brands from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 12th. Wall Street Zen cut Turning Point Brands from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. Finally, Oppenheimer upped their target price on Turning Point Brands from $85.00 to $98.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Turning Point Brands currently has an average rating of “Moderate Buy” and an average target price of $78.83.

Turning Point Brands Stock Up 1.8%

Shares of TPB opened at $89.76 on Thursday. The company has a market cap of $1.62 billion, a PE ratio of 37.56 and a beta of 0.74. The business has a fifty day moving average of $95.26 and a 200 day moving average of $82.27. Turning Point Brands has a 52-week low of $46.35 and a 52-week high of $104.76. The company has a quick ratio of 2.67, a current ratio of 4.22 and a debt-to-equity ratio of 1.30.

Turning Point Brands (NYSE:TPB) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.19. The company had revenue of $116.63 million during the quarter, compared to the consensus estimate of $107.30 million. Turning Point Brands had a return on equity of 25.32% and a net margin of 10.34%.Turning Point Brands’s revenue was up 25.1% on a year-over-year basis. During the same period last year, the company earned $0.68 earnings per share. On average, sell-side analysts expect that Turning Point Brands will post 2.59 EPS for the current year.

Turning Point Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Friday, September 19th were paid a $0.075 dividend. The ex-dividend date of this dividend was Friday, September 19th. This represents a $0.30 annualized dividend and a yield of 0.3%. Turning Point Brands’s dividend payout ratio is 12.55%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Universal Beteiligungs und Servicegesellschaft mbH increased its stake in shares of Turning Point Brands by 72.1% during the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 58,377 shares of the company’s stock valued at $5,771,000 after buying an additional 24,460 shares during the period. Vest Financial LLC purchased a new position in shares of Turning Point Brands during the third quarter valued at $1,419,000. GatePass Capital LLC purchased a new position in shares of Turning Point Brands during the third quarter valued at $1,119,000. Ritholtz Wealth Management increased its stake in shares of Turning Point Brands by 7.4% during the third quarter. Ritholtz Wealth Management now owns 25,331 shares of the company’s stock valued at $2,504,000 after buying an additional 1,752 shares during the period. Finally, First Horizon Corp purchased a new position in shares of Turning Point Brands during the third quarter valued at $25,000. Institutional investors own 96.12% of the company’s stock.

About Turning Point Brands

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.