Analysts Set Turning Point Brands, Inc. (NYSE:TPB) PT at $115.67

Turning Point Brands, Inc. (NYSE:TPB) has earned an average rating of “Moderate Buy” from the six research firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $109.00.

Several research analysts have commented on the stock. BTIG Research reiterated a “buy” rating on shares of Turning Point Brands in a report on Monday, August 10th. Weiss Ratings restated a “hold (c)” rating on shares of Turning Point Brands in a research note on Friday, August 28th. Oppenheimer lowered their target price on Turning Point Brands from $130.00 to $90.00 and set an “outperform” rating on the stock in a report on Tuesday. Wall Street Zen upgraded Turning Point Brands from a “strong sell” rating to a “sell” rating in a report on Monday, August 10th. Finally, Compass Point set a $116.00 price objective on shares of Turning Point Brands in a research note on Monday, August 10th.

Institutional Investors Weigh In On Turning Point Brands

Several large investors have recently bought and sold shares of the company. Operose Advisors LLC acquired a new stake in Turning Point Brands in the 2nd quarter valued at $42,000. Maple Rock Capital Partners Inc. raised its stake in Turning Point Brands by 57.5% in the 2nd quarter. Maple Rock Capital Partners Inc. now owns 686,800 shares of the company’s stock valued at $58,248,000 after acquiring an additional 250,800 shares during the period. AWH Capital L.P. bought a new position in shares of Turning Point Brands in the second quarter valued at about $6,526,130. Bank of America Corp DE acquired a new stake in Turning Point Brands during the second quarter worth approximately $47,278,000. Finally, Freestone Grove Partners LP acquired a new position in shares of Turning Point Brands during the 2nd quarter worth approximately $303,000. Institutional investors own 96.12% of the company’s stock.

Turning Point Brands Stock Performance

Turning Point Brands stock opened at $60.46 on Wednesday. The firm has a market capitalization of $1.17 billion, a PE ratio of 25.95 and a beta of 0.94. The stock’s 50 day moving average price is $79.16 and its 200 day moving average price is $82.60. The company has a debt-to-equity ratio of 0.65, a quick ratio of 4.16 and a current ratio of 5.67. Turning Point Brands has a one year low of $58.65 and a one year high of $146.90.

Turning Point Brands (NYSE:TPB) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.11. Turning Point Brands had a net margin of 8.78% and a return on equity of 11.35%. The firm had revenue of $142.96 million for the quarter, compared to the consensus estimate of $129.56 million. During the same period in the prior year, the firm posted $0.98 EPS. The firm’s revenue was up 22.6% compared to the same quarter last year. As a group, sell-side analysts expect that Turning Point Brands will post 1.23 EPS for the current fiscal year.

Turning Point Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 18th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Friday, September 18th. Turning Point Brands’s dividend payout ratio is 13.73%.

Turning Point Brands Company Profile

Turning Point Brands, Inc is a consumer-products company focused on branded products for the tobacco, smoking-accessory and modern oral categories. Its portfolio includes rolling papers, wraps, smokeless tobacco, nicotine pouches and related products marketed under established brands.

The company’s principal brands include Zig-Zag, which offers rolling papers, cones, wraps and smoking accessories; Stoker’s, known for smokeless tobacco products; and FRE, a brand of nicotine pouches. Turning Point Brands also develops and distributes other alternative and specialty products through its brand portfolio.

Turning Point Brands sells its products primarily through convenience stores, tobacco and vape retailers, specialty retailers, distributors, e-commerce channels and other consumer outlets in the United States, with some products available internationally.