Turning Point Brands, Inc. (NYSE:TPB) Given Average Rating of “Moderate Buy” by Brokerages

Turning Point Brands, Inc. (NYSE:TPB) has received an average recommendation of “Moderate Buy” from the six analysts that are presently covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $102.50.

Several research firms have recently commented on TPB. Wall Street Zen raised shares of Turning Point Brands from a “hold” rating to a “buy” rating in a research note on Sunday, December 21st. Industrial Alliance Securities set a $110.00 price objective on Turning Point Brands in a report on Wednesday, November 5th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Turning Point Brands in a research report on Tuesday, December 23rd. Alliance Global Partners boosted their target price on Turning Point Brands from $103.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Finally, Oppenheimer upped their price target on Turning Point Brands from $110.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, November 19th.

Insider Activity at Turning Point Brands

In related news, Director Gregory H.A. Baxter sold 1,500 shares of the company’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $98.23, for a total value of $147,345.00. Following the completion of the sale, the director owned 38,919 shares in the company, valued at approximately $3,823,013.37. This represents a 3.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Stephen Usher sold 1,000 shares of the stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $101.00, for a total value of $101,000.00. Following the completion of the transaction, the director directly owned 5,175 shares in the company, valued at $522,675. The trade was a 16.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 96,220 shares of company stock worth $9,958,542. 6.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Turning Point Brands

Institutional investors have recently modified their holdings of the stock. Counterpoint Mutual Funds LLC acquired a new position in shares of Turning Point Brands in the 2nd quarter valued at approximately $412,000. 4D Advisors LLC raised its holdings in Turning Point Brands by 133.7% during the 2nd quarter. 4D Advisors LLC now owns 222,000 shares of the company’s stock worth $16,821,000 after buying an additional 127,000 shares during the period. AWH Capital L.P. bought a new position in Turning Point Brands in the second quarter valued at approximately $3,410,000. Arrowstreet Capital Limited Partnership lifted its stake in Turning Point Brands by 15.4% in the second quarter. Arrowstreet Capital Limited Partnership now owns 330,182 shares of the company’s stock valued at $25,018,000 after buying an additional 44,179 shares in the last quarter. Finally, Divisadero Street Capital Management LP boosted its holdings in shares of Turning Point Brands by 187.5% in the second quarter. Divisadero Street Capital Management LP now owns 943,784 shares of the company’s stock valued at $71,511,000 after buying an additional 615,521 shares during the period. 96.12% of the stock is currently owned by institutional investors and hedge funds.

Turning Point Brands Price Performance

Turning Point Brands stock opened at $102.66 on Friday. The business’s fifty day moving average is $102.63 and its two-hundred day moving average is $93.89. The company has a debt-to-equity ratio of 0.82, a quick ratio of 3.98 and a current ratio of 5.56. The firm has a market cap of $1.96 billion, a P/E ratio of 36.15 and a beta of 0.86. Turning Point Brands has a 52 week low of $51.48 and a 52 week high of $113.31.

Turning Point Brands (NYSE:TPB) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.46. Turning Point Brands had a net margin of 12.02% and a return on equity of 24.44%. The firm had revenue of $118.98 million for the quarter, compared to analyst estimates of $111.42 million. During the same quarter in the prior year, the firm earned $0.68 EPS. The company’s revenue was up 12.7% on a year-over-year basis. Equities research analysts forecast that Turning Point Brands will post 2.59 earnings per share for the current fiscal year.

Turning Point Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Friday, December 19th will be paid a $0.075 dividend. The ex-dividend date of this dividend is Friday, December 19th. This represents a $0.30 dividend on an annualized basis and a yield of 0.3%. Turning Point Brands’s dividend payout ratio (DPR) is presently 10.56%.

Turning Point Brands Company Profile

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.