Turning Point Brands (NYSE:TPB) had its target price increased by Craig Hallum from $40.00 to $50.00 in a research report sent to investors on Wednesday morning, The Fly reports. They currently have a buy rating on the stock.
A number of other analysts have also recently weighed in on the company. ValuEngine cut Turning Point Brands from a hold rating to a sell rating in a research report on Thursday, April 30th. B. Riley reaffirmed a buy rating and issued a $38.00 price target on shares of Turning Point Brands in a research report on Thursday, July 9th. Finally, Zacks Investment Research raised Turning Point Brands from a sell rating to a hold rating in a research report on Tuesday, June 30th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. Turning Point Brands currently has an average rating of Hold and a consensus target price of $39.50.
Shares of NYSE:TPB opened at $32.88 on Wednesday. Turning Point Brands has a fifty-two week low of $14.09 and a fifty-two week high of $42.60. The business has a 50-day moving average of $26.80 and a two-hundred day moving average of $23.76. The stock has a market capitalization of $631.95 million, a P/E ratio of 102.75 and a beta of 0.73. The company has a debt-to-equity ratio of 2.65, a current ratio of 3.11 and a quick ratio of 2.11.
Turning Point Brands (NYSE:TPB) last announced its quarterly earnings results on Tuesday, July 28th. The company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.26. Turning Point Brands had a return on equity of 41.61% and a net margin of 1.75%. The company had revenue of $104.96 million during the quarter, compared to analysts’ expectations of $100.01 million. During the same quarter in the previous year, the firm earned $0.52 earnings per share. The business’s quarterly revenue was up 12.4% compared to the same quarter last year. As a group, research analysts expect that Turning Point Brands will post 2.06 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Friday, June 19th were given a dividend of $0.05 per share. The ex-dividend date was Thursday, June 18th. This represents a $0.20 annualized dividend and a dividend yield of 0.61%. Turning Point Brands’s dividend payout ratio is presently 10.75%.
In related news, major shareholder General L.P. Standard sold 2,215,000 shares of the business’s stock in a transaction dated Monday, July 13th. The stock was sold at an average price of $22.44, for a total transaction of $49,704,600.00. Following the completion of the transaction, the insider now owns 8,178,918 shares of the company’s stock, valued at approximately $183,534,919.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.80% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Monarch Partners Asset Management LLC acquired a new position in shares of Turning Point Brands during the 2nd quarter worth about $707,000. UBS Group AG acquired a new position in Turning Point Brands in the 2nd quarter valued at approximately $74,000. Parthenon LLC raised its holdings in Turning Point Brands by 16.8% in the 2nd quarter. Parthenon LLC now owns 49,270 shares of the company’s stock valued at $1,227,000 after acquiring an additional 7,070 shares in the last quarter. Aptus Capital Advisors LLC acquired a new position in Turning Point Brands in the 2nd quarter valued at approximately $465,000. Finally, Advisor Group Holdings Inc. acquired a new position in Turning Point Brands in the 1st quarter valued at approximately $51,000. 44.23% of the stock is owned by institutional investors and hedge funds.
Turning Point Brands Company Profile
Turning Point Brands, Inc, together with its subsidiaries, provides other tobacco products in the United States. The company operates in 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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