Turning Point Brands Inc (NYSE:TPB) has been assigned an average broker rating score of 1.00 (Strong Buy) from the two brokers that cover the company, Zacks Investment Research reports. Two analysts have rated the stock with a strong buy rating.
Brokers have set a 12 month consensus price objective of $45.00 for the company and are expecting that the company will post $0.62 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Turning Point Brands an industry rank of 120 out of 257 based on the ratings given to its competitors.
TPB has been the subject of a number of recent analyst reports. B. Riley raised their target price on Turning Point Brands from $35.00 to $45.00 and gave the company a “buy” rating in a report on Monday, October 8th. Cowen reissued a “buy” rating on shares of Turning Point Brands in a report on Friday, August 10th. Finally, Zacks Investment Research raised Turning Point Brands from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a report on Wednesday.
Turning Point Brands stock traded down $0.87 during midday trading on Monday, reaching $37.24. The company’s stock had a trading volume of 130,567 shares, compared to its average volume of 97,211. Turning Point Brands has a fifty-two week low of $15.51 and a fifty-two week high of $47.00. The company has a debt-to-equity ratio of 2.86, a quick ratio of 0.55 and a current ratio of 2.03. The company has a market cap of $720.98 million, a P/E ratio of 34.48 and a beta of 0.69.
Turning Point Brands (NYSE:TPB) last released its earnings results on Wednesday, November 7th. The company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.05). Turning Point Brands had a net margin of 7.64% and a return on equity of 53.06%. The business had revenue of $83.30 million during the quarter, compared to analyst estimates of $84.10 million. During the same period last year, the business posted $0.38 EPS. Turning Point Brands’s revenue was up 13.6% compared to the same quarter last year. Sell-side analysts predict that Turning Point Brands will post 1.99 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 11th. Shareholders of record on Friday, December 21st will be issued a $0.045 dividend. The ex-dividend date is Thursday, December 20th. This represents a $0.18 dividend on an annualized basis and a yield of 0.48%. This is an increase from Turning Point Brands’s previous quarterly dividend of $0.04. Turning Point Brands’s dividend payout ratio (DPR) is 14.81%.
In other news, Director Thomas F. Jr. Helms sold 25,000 shares of Turning Point Brands stock in a transaction on Monday, September 10th. The stock was sold at an average price of $42.04, for a total transaction of $1,051,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP James Michael Murray sold 1,000 shares of Turning Point Brands stock in a transaction on Wednesday, November 7th. The stock was sold at an average price of $37.50, for a total value of $37,500.00. Following the transaction, the vice president now directly owns 33,246 shares of the company’s stock, valued at approximately $1,246,725. The disclosure for this sale can be found here. In the last three months, insiders sold 67,547 shares of company stock valued at $2,497,905. 6.90% of the stock is owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in TPB. Harvest Fund Management Co. Ltd acquired a new position in shares of Turning Point Brands during the 3rd quarter worth $109,000. First Quadrant L P CA acquired a new position in shares of Turning Point Brands during the 3rd quarter worth $130,000. OppenheimerFunds Inc. acquired a new position in shares of Turning Point Brands during the 2nd quarter worth $200,000. Stone Ridge Asset Management LLC acquired a new position in shares of Turning Point Brands during the 3rd quarter worth $236,000. Finally, Rhumbline Advisers acquired a new position in shares of Turning Point Brands during the 2nd quarter worth $239,000. 27.23% of the stock is owned by institutional investors and hedge funds.
Turning Point Brands Company Profile
Turning Point Brands, Inc, together with its subsidiaries, provides other tobacco products primarily in the United States. It operates through three segments: Smokeless Products, Smoking Products, and NewGen Products. The Smokeless Products segment manufactures and markets moist snuff; and contracts for and markets loose leaf chewing tobacco products.
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