Zacks: Turning Point Brands Inc (TPB) Given Average Rating of “Strong Buy” by Brokerages

Turning Point Brands Inc (NYSE:TPB) has earned an average broker rating score of 1.00 (Strong Buy) from the two analysts that cover the stock, Zacks Investment Research reports. Two research analysts have rated the stock with a strong buy recommendation.

Brokers have set a 1 year consensus price target of $45.00 for the company and are expecting that the company will post $0.62 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Turning Point Brands an industry rank of 106 out of 257 based on the ratings given to its competitors.

TPB has been the subject of several recent research reports. Zacks Investment Research upgraded shares of Turning Point Brands from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a research note on Wednesday, November 7th. B. Riley lifted their target price on shares of Turning Point Brands from $35.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, October 8th. Finally, Cowen reiterated a “buy” rating on shares of Turning Point Brands in a research note on Friday, August 10th.

In other news, VP James Michael Murray sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 10th. The shares were sold at an average price of $43.09, for a total value of $43,090.00. Following the completion of the transaction, the vice president now directly owns 30,646 shares in the company, valued at $1,320,536.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Robert M. Lavan acquired 3,500 shares of the business’s stock in a transaction dated Thursday, November 29th. The stock was purchased at an average price of $29.86 per share, with a total value of $104,510.00. Following the completion of the transaction, the chief financial officer now directly owns 3,500 shares of the company’s stock, valued at approximately $104,510. The disclosure for this purchase can be found here. Insiders sold 36,200 shares of company stock valued at $1,490,080 in the last quarter. Corporate insiders own 6.90% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in TPB. Dupont Capital Management Corp bought a new position in shares of Turning Point Brands in the second quarter valued at approximately $744,000. Wedge Capital Management L L P NC boosted its position in shares of Turning Point Brands by 9.6% in the second quarter. Wedge Capital Management L L P NC now owns 37,042 shares of the company’s stock valued at $1,182,000 after acquiring an additional 3,238 shares during the period. D.A. Davidson & CO. boosted its position in shares of Turning Point Brands by 7.4% in the second quarter. D.A. Davidson & CO. now owns 32,653 shares of the company’s stock valued at $1,042,000 after acquiring an additional 2,254 shares during the period. Engineers Gate Manager LP bought a new position in shares of Turning Point Brands in the second quarter valued at approximately $408,000. Finally, Rhumbline Advisers bought a new position in shares of Turning Point Brands in the second quarter valued at approximately $239,000. Institutional investors own 30.53% of the company’s stock.

TPB opened at $28.70 on Wednesday. The stock has a market capitalization of $580.61 million, a PE ratio of 26.78 and a beta of 0.52. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.75 and a quick ratio of 0.36. Turning Point Brands has a twelve month low of $17.16 and a twelve month high of $47.00.

Turning Point Brands (NYSE:TPB) last posted its earnings results on Wednesday, November 7th. The company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.05). The business had revenue of $83.30 million during the quarter, compared to analysts’ expectations of $84.10 million. Turning Point Brands had a return on equity of 48.99% and a net margin of 7.64%. Turning Point Brands’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.38 EPS. On average, equities research analysts anticipate that Turning Point Brands will post 1.94 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 11th. Stockholders of record on Friday, December 21st will be paid a $0.045 dividend. This is an increase from Turning Point Brands’s previous quarterly dividend of $0.04. The ex-dividend date is Thursday, December 20th. This represents a $0.18 annualized dividend and a dividend yield of 0.63%. Turning Point Brands’s dividend payout ratio (DPR) is presently 14.81%.

About Turning Point Brands

Turning Point Brands, Inc, together with its subsidiaries, provides other tobacco products primarily in the United States. It operates through three segments: Smokeless Products, Smoking Products, and NewGen Products. The Smokeless Products segment manufactures and markets moist snuff; and contracts for and markets loose leaf chewing tobacco products.

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