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

Turning Point Brands (NYSE:TPB) had its price objective hoisted by Benchmark from $34.00 to $45.00 in a research note released on Friday, Benzinga reports. Benchmark currently has a buy rating on the stock.

Turning Point Brands Stock Up 2.2 %

NYSE TPB opened at $33.44 on Friday. The stock has a 50 day moving average price of $27.99 and a 200-day moving average price of $25.17. Turning Point Brands has a one year low of $19.67 and a one year high of $34.00. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.59 and a current ratio of 2.55. The company has a market capitalization of $589.21 million, a P/E ratio of 14.73 and a beta of 0.50.

Turning Point Brands (NYSE:TPB) last released its quarterly earnings results on Wednesday, February 28th. The company reported $0.72 earnings per share (EPS) for the quarter. Turning Point Brands had a net margin of 10.68% and a return on equity of 37.62%. The company had revenue of $97.10 million for the quarter, compared to the consensus estimate of $90.11 million. During the same quarter in the prior year, the firm earned $0.65 earnings per share. Turning Point Brands’s revenue was down 6.1% on a year-over-year basis.

Turning Point Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Friday, June 14th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.84%. The ex-dividend date of this dividend is Friday, June 14th. Turning Point Brands’s payout ratio is 12.33%.

Insider Activity

In related news, insider Plano Lorenzo De purchased 15,043 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was bought at an average cost of $27.97 per share, for a total transaction of $420,752.71. Following the completion of the transaction, the insider now directly owns 31,375 shares in the company, valued at $877,558.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 5.80% of the company’s stock.

Institutional Trading of Turning Point Brands

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AJOVista LLC bought a new position in shares of Turning Point Brands during the fourth quarter valued at approximately $47,000. Allspring Global Investments Holdings LLC purchased a new position in Turning Point Brands during the 1st quarter valued at $64,000. Quest Partners LLC bought a new position in Turning Point Brands in the 4th quarter valued at $65,000. Tower Research Capital LLC TRC increased its stake in Turning Point Brands by 571.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,017 shares of the company’s stock worth $106,000 after purchasing an additional 3,419 shares during the period. Finally, Mackenzie Financial Corp bought a new stake in shares of Turning Point Brands during the third quarter worth $204,000. 96.12% of the stock is owned by hedge funds and other 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.