Turning Point Brands, Inc. (NYSE:TPB) Receives $113.50 Average PT from Analysts

Shares of Turning Point Brands, Inc. (NYSE:TPB) have been assigned an average recommendation of “Moderate Buy” from the six ratings firms that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $113.50.

A number of equities research analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Turning Point Brands from a “strong sell” rating to a “sell” rating in a research report on Saturday, July 25th. BTIG Research began coverage on Turning Point Brands in a research report on Tuesday, July 21st. They set a “buy” rating and a $103.00 price target on the stock. Needham & Company LLC upgraded Turning Point Brands from a “hold” rating to a “buy” rating and set a $125.00 price objective on the stock in a research note on Friday, May 8th. Weiss Ratings cut Turning Point Brands from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, June 2nd. Finally, Compass Point set a $103.00 price objective on Turning Point Brands in a report on Tuesday, July 21st.

Insider Buying and Selling

In related news, CAO Brian Wigginton sold 4,000 shares of the business’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $91.67, for a total value of $366,680.00. Following the completion of the transaction, the chief accounting officer owned 9,230 shares of the company’s stock, valued at $846,114.10. The trade was a 30.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 5.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Turning Point Brands

Several hedge funds have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Turning Point Brands by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,198 shares of the company’s stock worth $606,000 after acquiring an additional 459 shares during the period. Russell Investments Group Ltd. boosted its position in shares of Turning Point Brands by 1,428.7% during the 2nd 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 increased 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 last quarter. Baird Financial Group Inc. bought a new position in Turning Point Brands in the second quarter valued at approximately $220,000. Finally, Qube Research & Technologies Ltd raised its position in 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 purchasing an additional 32,109 shares in the last quarter. 96.12% of the stock is owned by institutional investors.

Turning Point Brands Price Performance

NYSE:TPB opened at $76.42 on Tuesday. Turning Point Brands has a 52 week low of $65.80 and a 52 week high of $146.90. The company has a debt-to-equity ratio of 0.76, a quick ratio of 4.05 and a current ratio of 5.87. The firm’s 50-day simple moving average is $83.18 and its 200 day simple moving average is $94.64. The firm has a market cap of $1.48 billion, a price-to-earnings ratio of 25.99 and a beta of 0.92.

Turning Point Brands (NYSE:TPB) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.76 earnings per share (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 firm had revenue of $124.28 million during the quarter, compared to the consensus estimate of $115.67 million. During the same quarter in the previous year, the firm posted $0.91 EPS. The business’s revenue for the quarter was up 16.8% compared to the same quarter last year. As a group, sell-side analysts predict that Turning Point Brands will post 1.39 earnings per share for the current year.

Turning Point Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 18th will be given a $0.08 dividend. The ex-dividend date is Friday, September 18th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.4%. Turning Point Brands’s dividend payout ratio (DPR) is presently 10.88%.

Turning Point Brands Company Profile

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.