Turning Point Brands, Inc. (NYSE:TPB) Given Consensus Recommendation of “Hold” by Analysts

Turning Point Brands, Inc. (NYSE:TPB) has been given a consensus rating of “Hold” by the five brokerages that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $118.75.

A number of equities analysts have recently issued reports on TPB shares. Wall Street Zen upgraded Turning Point Brands from a “strong sell” rating to a “sell” rating in a report on Saturday. Needham & Company LLC upgraded Turning Point Brands from a “hold” rating to a “buy” rating and set a $125.00 price objective for the company in a report on Friday, May 8th. Zacks Research cut Turning Point Brands from a “hold” rating to a “strong sell” rating in a report on Monday, March 2nd. Finally, Weiss Ratings cut Turning Point Brands from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, June 2nd.

Turning Point Brands Price Performance

TPB opened at $86.58 on Monday. The stock has a 50-day moving average price of $83.41 and a 200-day moving average price of $100.66. Turning Point Brands has a 12-month low of $65.80 and a 12-month high of $146.90. The company has a current ratio of 5.87, a quick ratio of 4.05 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $1.68 billion, a P/E ratio of 29.45 and a beta of 0.92.

Turning Point Brands (NYSE:TPB) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.08. Turning Point Brands had a return on equity of 16.54% and a net margin of 11.53%.The firm had revenue of $124.28 million during the quarter, compared to analysts’ expectations of $115.67 million. During the same period in the prior year, the business earned $0.91 EPS. The company’s revenue for the quarter was up 16.8% compared to the same quarter last year. Equities analysts predict that Turning Point Brands will post 1.43 earnings per share for the current fiscal year.

Turning Point Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Friday, June 19th will be issued a dividend of $0.08 per share. The ex-dividend date is Thursday, June 18th. This represents a $0.32 annualized dividend and a yield of 0.4%. Turning Point Brands’s dividend payout ratio is currently 10.88%.

Insiders Place Their Bets

In related news, CAO Brian Wigginton sold 4,000 shares of the stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $91.67, for a total transaction of $366,680.00. Following the completion of the sale, the chief accounting officer directly owned 9,230 shares in the company, valued at $846,114.10. This represents a 30.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 5.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Turning Point Brands

Several institutional investors have recently bought and sold shares of TPB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Turning Point Brands by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,198 shares of the company’s stock valued at $606,000 after acquiring an additional 459 shares during the period. Russell Investments Group Ltd. raised its position in Turning Point Brands by 1,428.7% during the 2nd quarter. Russell Investments Group Ltd. now owns 4,586 shares of the company’s stock valued at $347,000 after purchasing an additional 4,286 shares during the last quarter. First Trust Advisors LP raised its position in Turning Point Brands by 150.8% during the 2nd quarter. First Trust Advisors LP now owns 141,995 shares of the company’s stock valued at $10,759,000 after purchasing an additional 85,378 shares during the last quarter. Baird Financial Group Inc. bought a new position in Turning Point Brands during the 2nd quarter valued at approximately $220,000. Finally, Qube Research & Technologies Ltd raised its position in Turning Point Brands by 21.3% during the 2nd quarter. Qube Research & Technologies Ltd now owns 182,812 shares of the company’s stock valued at $13,852,000 after purchasing an additional 32,109 shares during the last quarter. 96.12% of the stock is currently owned by hedge funds and other institutional investors.

About Turning Point Brands

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.