Zacks: Analysts Set $20.00 Target Price for Turning Point Brands, Inc. (TPB)
Shares of Turning Point Brands, Inc. (NYSE:TPB) have received an average broker rating score of 1.00 (Strong Buy) from the two analysts that cover the company, Zacks Investment Research reports. Two equities research analysts have rated the stock with a strong buy recommendation.
Analysts have set a 1-year consensus price target of $20.00 for the company and are forecasting that the company will post $0.33 EPS for the current quarter, according to Zacks. Zacks has also given Turning Point Brands an industry rank of 179 out of 265 based on the ratings given to its competitors.
TPB has been the subject of a number of recent research reports. Cowen reiterated a “buy” rating and set a $20.00 price target on shares of Turning Point Brands in a research note on Sunday, September 17th. B. Riley reiterated a “buy” rating and set a $20.00 price target on shares of Turning Point Brands in a research note on Friday, November 10th. FBR & Co reiterated a “buy” rating and set a $17.00 price target on shares of Turning Point Brands in a research note on Monday, October 2nd. Finally, Zacks Investment Research upgraded shares of Turning Point Brands from a “sell” rating to a “hold” rating in a research note on Tuesday, September 26th.
Turning Point Brands (NYSE:TPB) last posted its earnings results on Thursday, November 9th. The company reported $0.38 EPS for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.06). The company had revenue of $73.30 million during the quarter, compared to analysts’ expectations of $71.15 million. Turning Point Brands had a net margin of 12.70% and a return on equity of 93.53%. The company’s quarterly revenue was up 43.9% on a year-over-year basis. During the same period last year, the business earned $0.34 earnings per share. equities analysts expect that Turning Point Brands will post 1.15 earnings per share for the current year.
The business also recently disclosed an annual dividend, which will be paid on Friday, December 15th. Investors of record on Monday, November 27th will be paid a $0.04 dividend. The ex-dividend date of this dividend is Friday, November 24th. Turning Point Brands’s dividend payout ratio (DPR) is 2.31%.
In other Turning Point Brands news, major shareholder General L.P. Standard bought 100,000 shares of the company’s stock in a transaction on Thursday, September 14th. The stock was purchased at an average cost of $17.09 per share, for a total transaction of $1,709,000.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director H.C. Charles Diao bought 7,697 shares of the company’s stock in a transaction on Monday, November 13th. The shares were acquired at an average price of $15.91 per share, with a total value of $122,459.27. Following the completion of the acquisition, the director now directly owns 11,000 shares in the company, valued at approximately $175,010. The disclosure for this purchase can be found here. 14.20% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bessemer Group Inc. acquired a new stake in shares of Turning Point Brands in the second quarter worth approximately $143,000. Teachers Advisors LLC lifted its position in Turning Point Brands by 25.6% during the second quarter. Teachers Advisors LLC now owns 10,249 shares of the company’s stock valued at $157,000 after buying an additional 2,087 shares in the last quarter. OxFORD Asset Management LLP acquired a new position in Turning Point Brands during the third quarter valued at approximately $197,000. Martingale Asset Management L P acquired a new position in Turning Point Brands during the second quarter valued at approximately $280,000. Finally, D.A. Davidson & CO. acquired a new position in Turning Point Brands during the second quarter valued at approximately $413,000. 17.62% of the stock is currently owned by institutional investors and hedge funds.
About Turning Point Brands
Turning Point Brands, Inc is an independent provider of Other Tobacco Products (OTP) in the United States. The Company operates in three segments smokeless products, smoking products and NewGen products. The smokeless products segment manufactures and markets moist snuff; and contracts for and markets chewing tobacco products.
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