Turning Point Brands, Inc. (NYSE:TPB) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• Turning Point Brands, Inc. received a consensus recommendation of "Moderate Buy" from nine analysts, with an average target price of $78.83.
• The company reported earnings of $0.98 per share for the last quarter, surpassing the expected $0.79, and showing a revenue increase of 25.1% year-over-year.
• Turning Point Brands announced a quarterly dividend of $0.075, reflecting a 0.3% annual dividend yield and a payout ratio of 12.55%.

Turning Point Brands, Inc. (NYSE:TPB - Get Free Report) has earned an average recommendation of "Moderate Buy" from the nine analysts that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $78.8333.

Several analysts recently weighed in on TPB shares. Zacks Research downgraded Turning Point Brands from a "strong-buy" rating to a "hold" rating in a report on Friday, September 12th. Wall Street Zen lowered Turning Point Brands from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Needham & Company LLC started coverage on Turning Point Brands in a research note on Friday, August 1st. They set a "hold" rating for the company. Oppenheimer increased their price objective 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. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of Turning Point Brands in a report on Wednesday, October 8th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of TPB. GAMMA Investing LLC increased its position in shares of Turning Point Brands by 90.7% during the 2nd quarter. GAMMA Investing LLC now owns 328 shares of the company's stock valued at $25,000 after purchasing an additional 156 shares during the period. Briaud Financial Planning Inc purchased a new position in shares of Turning Point Brands during the second quarter valued at $31,000. State of Alaska Department of Revenue purchased a new position in shares of Turning Point Brands during the third quarter valued at $74,000. Canada Pension Plan Investment Board purchased a new position in shares of Turning Point Brands during the second quarter valued at $129,000. Finally, Lazard Asset Management LLC grew its holdings in shares of Turning Point Brands by 33.5% during the second quarter. Lazard Asset Management LLC now owns 1,842 shares of the company's stock valued at $139,000 after buying an additional 462 shares in the last quarter. Hedge funds and other institutional investors own 96.12% of the company's stock.

Turning Point Brands Trading Up 3.8%

TPB opened at $91.08 on Friday. The stock has a market cap of $1.64 billion, a PE ratio of 38.11 and a beta of 0.74. Turning Point Brands has a twelve month low of $45.64 and a twelve month high of $104.76. The company has a fifty day moving average of $95.99 and a 200-day moving average of $81.39. 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 - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.79 by $0.19. The company had revenue of $116.63 million during the quarter, compared to analysts' expectations of $107.30 million. Turning Point Brands had a net margin of 10.34% and a return on equity of 25.32%. Turning Point Brands's revenue for the quarter was up 25.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.68 earnings per share. On average, sell-side analysts predict that Turning Point Brands will post 2.59 EPS for the current year.

Turning Point Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Friday, September 19th were issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Friday, September 19th. Turning Point Brands's payout ratio is 12.55%.

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.

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