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

Shares of Turning Point Brands, Inc. (NYSE:TPB) have received a consensus recommendation of “Hold” from the five research firms that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $118.75.

TPB has been the subject of several analyst reports. Wall Street Zen raised Turning Point Brands from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 6th. Needham & Company LLC raised Turning Point Brands from a “hold” rating to a “buy” rating and set a $125.00 target price on the stock in a research report on Friday, May 8th. Finally, Weiss Ratings cut Turning Point Brands from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, June 2nd.

Turning Point Brands Stock Performance

Shares of TPB stock opened at $85.85 on Friday. 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 firm has a fifty day moving average price of $84.67 and a 200 day moving average price of $98.31. The company has a market cap of $1.66 billion, a P/E ratio of 29.20 and a beta of 0.92. Turning Point Brands has a 12 month low of $65.80 and a 12 month high of $146.90.

Turning Point Brands (NYSE:TPB) last posted its earnings results on Thursday, May 7th. The company reported $0.76 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $115.67 million. During the same quarter in the prior year, the company posted $0.91 earnings per share. Turning Point Brands’s revenue for the quarter was up 16.8% compared to the same quarter last year. Sell-side analysts predict that Turning Point Brands will post 1.39 earnings per share for the current fiscal year.

Turning Point Brands Dividend Announcement

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

Insiders Place Their Bets

In other news, CAO Brian Wigginton sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The shares were 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 owned 9,230 shares in the company, valued at approximately $846,114.10. The trade was a 30.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 5.40% of the company’s stock.

Institutional Investors Weigh In On Turning Point Brands

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Turning Point Brands by 4.4% in the fourth quarter. Vanguard Group Inc. now owns 1,451,394 shares of the company’s stock valued at $157,331,000 after acquiring an additional 61,311 shares during the last quarter. Divisadero Street Capital Management LP increased its position in shares of Turning Point Brands by 3.2% during the third quarter. Divisadero Street Capital Management LP now owns 974,066 shares of the company’s stock worth $96,296,000 after purchasing an additional 30,282 shares in the last quarter. ArrowMark Colorado Holdings LLC increased its position in shares of Turning Point Brands by 28.9% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 869,747 shares of the company’s stock worth $94,281,000 after purchasing an additional 194,938 shares in the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of Turning Point Brands by 4.8% in the 4th quarter. Thrivent Financial for Lutherans now owns 847,050 shares of the company’s stock valued at $91,820,000 after purchasing an additional 38,437 shares during the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of Turning Point Brands by 39.6% in the 1st quarter. First Trust Advisors LP now owns 689,905 shares of the company’s stock valued at $59,877,000 after purchasing an additional 195,643 shares during the last quarter. 96.12% of the stock is currently owned by institutional investors and hedge funds.

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.