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

Turning Point Brands, Inc. (NYSE:TPB) has been assigned an average rating of “Moderate Buy” from the six brokerages that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $113.50.

A number of research firms recently issued reports on TPB. Needham & Company LLC upgraded shares of Turning Point Brands from a “hold” rating to a “buy” rating and set a $125.00 target price for the company in a research report on Friday, May 8th. Weiss Ratings downgraded Turning Point Brands from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, June 2nd. BTIG Research initiated coverage on Turning Point Brands in a research note on Tuesday, July 21st. They set a “buy” rating and a $103.00 price objective for the company. Wall Street Zen raised Turning Point Brands from a “strong sell” rating to a “sell” rating in a report on Saturday. Finally, Compass Point set a $103.00 price objective on Turning Point Brands in a report on Tuesday, July 21st.

Turning Point Brands Stock Performance

Shares of NYSE TPB opened at $78.67 on Tuesday. The company has a current ratio of 5.87, a quick ratio of 4.05 and a debt-to-equity ratio of 0.76. Turning Point Brands has a 12 month low of $65.80 and a 12 month high of $146.90. The company has a 50 day simple moving average of $83.94 and a two-hundred day simple moving average of $95.22. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of 26.76 and a beta of 0.92.

Turning Point Brands (NYSE:TPB) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.08. The firm had revenue of $124.28 million for the quarter, compared to analyst estimates of $115.67 million. Turning Point Brands had a net margin of 11.53% and a return on equity of 16.54%. The business’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.91 earnings per share. As a group, analysts predict that Turning Point Brands will post 1.39 earnings per share for the current year.

Turning Point Brands Announces Dividend

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

Insiders Place Their Bets

In other Turning Point Brands news, CAO Brian Wigginton sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $91.67, for a total value of $366,680.00. Following the completion of the transaction, the chief accounting officer directly owned 9,230 shares of the company’s stock, valued at approximately $846,114.10. The trade was a 30.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 5.40% of the company’s stock.

Institutional Investors Weigh In On Turning Point Brands

Hedge funds have recently bought and sold shares of the stock. Kemnay Advisory Services Inc. acquired a new stake in shares of Turning Point Brands during the 4th quarter worth approximately $27,000. Empowered Funds LLC acquired a new position in shares of Turning Point Brands in the 4th quarter valued at $27,000. Caitong International Asset Management Co. Ltd purchased a new stake in Turning Point Brands during the third quarter worth $28,000. Advisory Services Network LLC purchased a new stake in Turning Point Brands during the third quarter worth $28,000. Finally, First Horizon Corp boosted its holdings in Turning Point Brands by 96.0% during the fourth quarter. First Horizon Corp now owns 492 shares of the company’s stock worth $53,000 after buying an additional 241 shares in the last quarter. Hedge funds and other institutional investors own 96.12% of the company’s stock.

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.