Turning Point Brands, Inc. (NYSE:TPB) Receives $118.75 Average PT from Analysts

Shares of Turning Point Brands, Inc. (NYSE:TPB) have been assigned a consensus recommendation of “Hold” from the five brokerages that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $118.75.

A number of research analysts have recently issued reports on TPB shares. Wall Street Zen raised Turning Point Brands from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 6th. Needham & Company LLC upgraded Turning Point Brands from a “hold” rating to a “buy” rating and set a $125.00 target price for the company in a report on Friday, May 8th. Zacks Research lowered Turning Point Brands from a “hold” rating to a “strong sell” rating in a research note on Monday, March 2nd. Finally, Weiss Ratings cut Turning Point Brands from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, June 2nd.

Insider Buying and Selling

In other Turning Point Brands news, CAO Brian Wigginton sold 4,000 shares of the firm’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $91.67, for a total value of $366,680.00. Following the completion of the sale, the chief accounting officer directly owned 9,230 shares in the company, valued at approximately $846,114.10. This trade represents a 30.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 5.40% of the company’s stock.

Hedge Funds Weigh In On Turning Point Brands

A number of institutional investors and hedge funds have recently made changes to their positions in TPB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Turning Point Brands by 4.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,198 shares of the company’s stock valued at $606,000 after buying an additional 459 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in Turning Point Brands by 1,428.7% in the second quarter. Russell Investments Group Ltd. now owns 4,586 shares of the company’s stock worth $347,000 after acquiring an additional 4,286 shares in the last quarter. First Trust Advisors LP grew its stake in Turning Point Brands by 150.8% in the second quarter. First Trust Advisors LP now owns 141,995 shares of the company’s stock valued at $10,759,000 after acquiring an additional 85,378 shares during the period. Baird Financial Group Inc. acquired a new stake in Turning Point Brands in the second quarter valued at approximately $220,000. Finally, Qube Research & Technologies Ltd increased its holdings in shares of Turning Point Brands by 21.3% during the second quarter. Qube Research & Technologies Ltd now owns 182,812 shares of the company’s stock valued at $13,852,000 after acquiring an additional 32,109 shares in the last quarter. Institutional investors own 96.12% of the company’s stock.

Turning Point Brands Price Performance

Shares of NYSE TPB opened at $82.29 on Monday. Turning Point Brands has a twelve month low of $65.80 and a twelve month high of $146.90. The firm has a fifty day simple moving average of $83.25 and a 200 day simple moving average of $100.05. The company has a market capitalization of $1.59 billion, a PE ratio of 27.99 and a beta of 0.92. The company has a quick ratio of 4.05, a current ratio of 5.87 and a debt-to-equity ratio of 0.76.

Turning Point Brands (NYSE:TPB) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.08. Turning Point Brands had a net margin of 11.53% and a return on equity of 16.54%. The business had revenue of $124.28 million for the quarter, compared to analysts’ expectations of $115.67 million. During the same quarter in the prior year, the firm posted $0.91 earnings per share. The business’s quarterly revenue was up 16.8% compared to the same quarter last year. On average, sell-side analysts forecast that Turning Point Brands will post 1.43 EPS for the current year.

Turning Point Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Friday, June 19th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, June 18th. This represents a $0.32 annualized dividend and a yield of 0.4%. Turning Point Brands’s dividend payout ratio is currently 10.88%.

About Turning Point Brands

Turning Point Brands, Inc (NYSE: TPB) is a U.S.-based consumer products company focused on the manufacture, marketing and distribution of smokeless tobacco, vaping and cigar products. Headquartered in Old Hickory, Tennessee, the company serves retail outlets across all 50 states through a direct-store-delivery network and select third-party distributors. Turning Point Brands operates two reporting segments—Smokeless Products and Cigar—and leverages its logistics capabilities to offer a broad portfolio of brands and SKUs.

In its Smokeless Products segment, Turning Point Brands produces moist smokeless tobacco under leading brand names such as Grizzly, Kodiak and Stoker’s.