Zacks: Analysts Set $22.50 Price Target for Turning Point Brands Inc (TPB)

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.

In other Turning Point Brands news, major shareholder General L.P. Standard bought 150,000 shares of Turning Point Brands stock in a transaction that occurred on Wednesday, January 3rd. The stock was acquired at an average price of $20.80 per share, for a total transaction of $3,120,000.00. Following the completion of the acquisition, the insider now owns 2,500 shares of the company’s stock, valued at approximately $52,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director H.C. Charles Diao bought 7,697 shares of Turning Point Brands stock in a transaction that occurred 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 acquisition, the director now directly owns 11,000 shares of the company’s stock, valued at approximately $175,010. The disclosure for this purchase can be found here. Corporate insiders own 14.20% of the company’s stock.

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.

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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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