Zacks: Turning Point Brands Inc (TPB) Given Consensus Rating of “Strong Buy” by Brokerages

Turning Point Brands Inc (NYSE:TPB) has been given an average broker rating score of 1.00 (Strong Buy) from the two analysts that cover the company, Zacks Investment Research reports. Two research analysts have rated the stock with a strong buy rating.

Analysts have set a 1 year consensus target price of $22.50 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 175 out of 265 based on the ratings given to its competitors.

A number of equities analysts have recently issued reports on TPB shares. B. Riley reaffirmed a “buy” rating and issued a $20.00 price target on shares of Turning Point Brands in a research report on Friday, November 10th. Zacks Investment Research cut shares of Turning Point Brands from a “hold” rating to a “sell” rating in a research report on Tuesday, November 14th. Finally, FBR & Co reaffirmed a “buy” rating and issued a $17.00 price target on shares of Turning Point Brands in a research report on Monday, October 2nd.

In related news, major shareholder General L.P. Standard purchased 150,000 shares of the firm’s stock in a transaction dated Wednesday, January 3rd. The stock was bought at an average price of $20.80 per share, for a total transaction of $3,120,000.00. Following the purchase, the insider now directly owns 2,500 shares in the company, valued at approximately $52,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director H.C. Charles Diao purchased 7,697 shares of the firm’s stock in a transaction dated Monday, November 13th. The shares were bought at an average price of $15.91 per share, with a total value of $122,459.27. Following the purchase, the director now owns 11,000 shares in the company, valued at $175,010. The disclosure for this purchase can be found here. Company insiders own 14.20% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Argent Capital Management LLC purchased a new position in Turning Point Brands in the 2nd quarter valued at approximately $2,552,000. Northern Right Capital Management L.P. grew its stake in Turning Point Brands by 13.3% in the 2nd quarter. Northern Right Capital Management L.P. now owns 365,308 shares of the company’s stock valued at $5,604,000 after buying an additional 42,800 shares in the last quarter. AJO LP purchased a new position in Turning Point Brands in the 2nd quarter valued at approximately $520,000. D.A. Davidson & CO. purchased a new position in Turning Point Brands in the 2nd quarter valued at approximately $413,000. Finally, Wells Fargo & Company MN grew its stake in Turning Point Brands by 30.2% in the 3rd quarter. Wells Fargo & Company MN now owns 81,278 shares of the company’s stock valued at $1,383,000 after buying an additional 18,866 shares in the last quarter. Institutional investors own 17.62% of the company’s stock.

Turning Point Brands (NYSE TPB) traded up $0.29 during midday trading on Friday, reaching $21.11. The company had a trading volume of 53,733 shares, compared to its average volume of 83,478. The firm has a market capitalization of $399.95, a P/E ratio of 12.20 and a beta of -0.15. Turning Point Brands has a 1-year low of $12.45 and a 1-year high of $22.99. The company has a quick ratio of 0.37, a current ratio of 1.81 and a debt-to-equity ratio of 3.77.

Turning Point Brands (NYSE:TPB) last issued its quarterly earnings results on Thursday, November 9th. The company reported $0.38 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.06). Turning Point Brands had a return on equity of 93.53% and a net margin of 12.70%. The business had revenue of $73.30 million for the quarter, compared to analyst estimates of $71.15 million. During the same quarter in the previous year, the business posted $0.34 earnings per share. The business’s revenue was up 43.9% on a year-over-year basis. sell-side analysts anticipate that Turning Point Brands will post 1.15 earnings per share for the current year.

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Turning Point Brands Company Profile

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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