Brokerages Set Turning Point Brands, Inc. (NYSE:TPB) Price Target at $118.75

Turning Point Brands, Inc. (NYSE:TPB) has earned an average rating of “Hold” from the five ratings firms that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $118.75.

Several equities analysts have recently weighed in on TPB shares. Zacks Research lowered shares of Turning Point Brands from a “hold” rating to a “strong sell” rating in a research report on Monday, March 2nd. Weiss Ratings lowered shares of Turning Point Brands from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, May 11th. Wall Street Zen cut shares of Turning Point Brands from a “hold” rating to a “strong sell” rating in a report on Saturday, May 16th. Finally, Needham & Company LLC upgraded shares of 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.

Insider Activity at Turning Point Brands

In related news, CFO Andrew Flynn sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $97.57, for a total transaction of $195,140.00. Following the transaction, the chief financial officer owned 9,443 shares of the company’s stock, valued at approximately $921,353.51. This trade represents a 17.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Brian Wigginton sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $91.67, for a total transaction of $366,680.00. Following the transaction, the chief accounting officer directly owned 9,230 shares in the company, valued at approximately $846,114.10. The trade was a 30.23% decrease in their position. The disclosure for this sale is available in the SEC filing. 5.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Turning Point Brands

A number of institutional investors have recently modified their holdings of TPB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Turning Point Brands by 4.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,198 shares of the company’s stock valued at $606,000 after purchasing an additional 459 shares during the period. Russell Investments Group Ltd. raised its position in shares of 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 valued at $347,000 after purchasing an additional 4,286 shares during the period. First Trust Advisors LP raised its position in shares of 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 purchasing an additional 85,378 shares during the period. Baird Financial Group Inc. bought a new position in shares of Turning Point Brands in the second quarter valued at approximately $220,000. Finally, Qube Research & Technologies Ltd raised its position in shares of Turning Point Brands by 21.3% in 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 during the period. Institutional investors own 96.12% of the company’s stock.

Turning Point Brands Stock Up 2.1%

Turning Point Brands stock opened at $91.10 on Thursday. The stock has a market cap of $1.76 billion, a price-to-earnings ratio of 30.99 and a beta of 0.93. The company has a current ratio of 5.87, a quick ratio of 4.05 and a debt-to-equity ratio of 0.76. The company’s 50-day moving average price is $83.80 and its two-hundred day moving average price is $101.62. Turning Point Brands has a 52 week low of $65.80 and a 52 week high of $146.90.

Turning Point Brands (NYSE:TPB) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.76 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $124.28 million during the quarter, compared to analyst estimates of $115.67 million. During the same quarter last year, the firm posted $0.91 EPS. The business’s revenue for the quarter was up 16.8% on a year-over-year basis. On average, analysts expect that Turning Point Brands will post 2.66 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, July 10th. Investors of record on Friday, June 19th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Thursday, June 18th. Turning Point Brands’s dividend payout ratio (DPR) 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.