B. Riley reissued their buy rating on shares of Turning Point Brands, Inc. (NYSE:TPB) in a report released on Friday. B. Riley currently has a $20.00 price target on the stock. B. Riley also issued estimates for Turning Point Brands’ Q3 2017 earnings at $0.37 EPS, Q4 2017 earnings at $0.33 EPS, FY2017 earnings at $1.14 EPS and FY2018 earnings at $1.39 EPS.
Several other research firms have also recently commented on TPB. FBR & Co reaffirmed a buy rating and set a $17.00 price objective on shares of Turning Point Brands in a research report on Monday, October 2nd. Cowen and Company reaffirmed a buy rating and set a $19.00 price objective on shares of Turning Point Brands in a research report on Thursday, August 3rd. Finally, Zacks Investment Research cut Turning Point Brands from a hold rating to a sell rating in a research report on Wednesday, August 16th.
Turning Point Brands (NYSE TPB) traded up $0.01 during trading on Friday, hitting $15.61. The company had a trading volume of 98,000 shares, compared to its average volume of 32,549. The company has a debt-to-equity ratio of 3.77, a current ratio of 1.81 and a quick ratio of 0.37. Turning Point Brands has a 12 month low of $11.67 and a 12 month high of $18.99. The stock has a market capitalization of $299.86, a PE ratio of 8.09 and a beta of 0.15.
Turning Point Brands (NYSE:TPB) last released its quarterly earnings data on Thursday, November 9th. The company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.06). Turning Point Brands had a net margin of 12.70% and a return on equity of 93.53%. The business had revenue of $73.30 million for the quarter, compared to analysts’ expectations of $71.15 million. During the same period last year, the business earned $0.34 earnings per share. The company’s quarterly revenue was up 43.9% on a year-over-year basis. research analysts anticipate that Turning Point Brands will post 1.13 earnings per share for the current fiscal year.
The company also recently announced an annual dividend, which will be paid on Friday, December 15th. Shareholders of record on Monday, November 27th will be given a $0.04 dividend. The ex-dividend date is Friday, November 24th.
In other news, Director H.C. Charles Diao bought 3,303 shares of the company’s stock in a transaction on Friday, August 18th. The shares were acquired at an average cost of $16.49 per share, with a total value of $54,466.47. Following the completion of the transaction, the director now owns 2,003 shares of the company’s stock, valued at approximately $33,029.47. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder General L.P. Standard bought 100,000 shares of the company’s stock in a transaction on Wednesday, August 16th. The stock was purchased at an average cost of $16.52 per share, for a total transaction of $1,652,000.00. The disclosure for this purchase can be found here. Insiders acquired 203,303 shares of company stock worth $3,415,466 over the last three months. Insiders own 14.20% of the company’s stock.
A number of large investors have recently made changes to their positions in TPB. Bessemer Group Inc. purchased a new position in Turning Point Brands in the second quarter worth about $143,000. Teachers Advisors LLC boosted its position in Turning Point Brands by 25.6% in the second quarter. Teachers Advisors LLC now owns 10,249 shares of the company’s stock worth $157,000 after purchasing an additional 2,087 shares during the last quarter. OxFORD Asset Management LLP purchased a new position in Turning Point Brands in the third quarter worth about $197,000. Martingale Asset Management L P purchased a new position in Turning Point Brands in the second quarter worth about $280,000. Finally, D.A. Davidson & CO. purchased a new position in Turning Point Brands in the second quarter worth about $413,000. 15.11% of the stock is currently owned by institutional investors and hedge funds.
About Turning Point Brands
Turning Point Brands, Inc is an independent provider of Other Tobacco Products (OTP) in the United States. The Company operates in three segments smokeless products, smoking products and NewGen products. The smokeless products segment manufactures and markets moist snuff; and contracts for and markets chewing tobacco products.
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