Shares of Turning Point Brands Inc (NYSE:TPB) have earned an average broker rating score of 1.00 (Strong Buy) from the two analysts that cover the stock, Zacks Investment Research reports. Two equities research analysts have rated the stock with a strong buy recommendation.
Brokers have set a 12 month consensus target price of $22.50 for the company and are expecting that the company will post $0.33 EPS for the current quarter, according to Zacks. Zacks has also assigned Turning Point Brands an industry rank of 105 out of 265 based on the ratings given to related companies.
TPB has been the subject of several research analyst reports. B. Riley reiterated a “buy” rating on shares of Turning Point Brands in a report on Wednesday, November 1st. Zacks Investment Research cut shares of Turning Point Brands from a “hold” rating to a “sell” rating in a report on Tuesday, November 14th.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Teachers Advisors LLC boosted its holdings in Turning Point Brands by 25.6% during the second quarter. Teachers Advisors LLC now owns 10,249 shares of the company’s stock worth $157,000 after purchasing an additional 2,087 shares during the last quarter. OxFORD Asset Management LLP bought a new stake in Turning Point Brands during the third quarter worth $197,000. Bank of New York Mellon Corp raised its position in Turning Point Brands by 11.1% during the third quarter. Bank of New York Mellon Corp now owns 42,473 shares of the company’s stock worth $722,000 after acquiring an additional 4,256 shares in the last quarter. Wells Fargo & Company MN raised its position in Turning Point Brands by 30.5% during the second quarter. Wells Fargo & Company MN now owns 62,412 shares of the company’s stock worth $957,000 after acquiring an additional 14,584 shares in the last quarter. Finally, State Street Corp raised its position in Turning Point Brands by 5.8% during the second quarter. State Street Corp now owns 84,823 shares of the company’s stock worth $1,301,000 after acquiring an additional 4,663 shares in the last quarter. Institutional investors and hedge funds own 17.63% of the company’s stock.
Turning Point Brands (NYSE TPB) opened at $22.08 on Friday. The firm has a market cap of $422.62 and a P/E ratio of 13.30. 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 released its quarterly earnings results on Thursday, November 9th. The company reported $0.38 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.06). The company had revenue of $73.30 million during the quarter, compared to analyst estimates of $71.15 million. Turning Point Brands had a net margin of 12.70% and a return on equity of 93.53%. The firm’s quarterly revenue was up 43.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.34 EPS. sell-side analysts expect that Turning Point Brands will post 1.15 EPS for the current fiscal year.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Turning Point Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Turning Point Brands and related companies with MarketBeat.com's FREE daily email newsletter.