Turning Point Brands (NYSE:TPB) Price Target Increased to $45.00 by Analysts at Benchmark

Turning Point Brands (NYSE:TPB) had its price objective increased by Benchmark from $34.00 to $45.00 in a report published on Friday, Benzinga reports. They currently have a buy rating on the stock.

Turning Point Brands Price Performance

Shares of NYSE TPB traded up $0.16 during midday trading on Friday, reaching $32.73. 176,173 shares of the company traded hands, compared to its average volume of 93,310. Turning Point Brands has a 12 month low of $19.67 and a 12 month high of $34.00. The company has a debt-to-equity ratio of 2.02, a quick ratio of 1.68 and a current ratio of 2.67. The stock’s 50-day simple moving average is $27.77 and its 200-day simple moving average is $25.05. The firm has a market cap of $578.57 million, a PE ratio of 14.42 and a beta of 0.50.

Turning Point Brands (NYSE:TPB) last announced its quarterly earnings results on Wednesday, February 28th. The company reported $0.72 earnings per share (EPS) for the quarter. The firm had revenue of $97.10 million during the quarter, compared to the consensus estimate of $90.11 million. Turning Point Brands had a net margin of 10.68% and a return on equity of 39.00%. The firm’s quarterly revenue was down 6.1% on a year-over-year basis. During the same period last year, the firm posted $0.65 EPS.

Turning Point Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, June 14th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend is Friday, June 14th. Turning Point Brands’s dividend payout ratio is 12.33%.

Insider Buying and Selling at Turning Point Brands

In other news, insider Plano Lorenzo De purchased 15,043 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were acquired at an average price of $27.97 per share, with a total value of $420,752.71. Following the completion of the purchase, the insider now directly owns 31,375 shares of the company’s stock, valued at approximately $877,558.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 5.20% of the company’s stock.

Hedge Funds Weigh In On Turning Point Brands

A number of hedge funds and other institutional investors have recently bought and sold shares of TPB. Quadrature Capital Ltd boosted its position in shares of Turning Point Brands by 7.4% in the 3rd quarter. Quadrature Capital Ltd now owns 14,899 shares of the company’s stock worth $344,000 after purchasing an additional 1,026 shares during the last quarter. BNP Paribas Financial Markets increased its stake 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 valued at $532,000 after acquiring an additional 1,159 shares during the last quarter. AJOVista LLC bought a new position in Turning Point Brands during the 4th quarter worth approximately $47,000. Hsbc Holdings PLC grew its holdings in Turning Point Brands by 5.5% during the third quarter. Hsbc Holdings PLC now owns 39,918 shares of the company’s stock valued at $923,000 after purchasing an additional 2,066 shares during the period. Finally, Allspring Global Investments Holdings LLC bought a new stake in Turning Point Brands in the first quarter valued at approximately $64,000. 96.12% of the stock is owned by institutional investors.

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.