Turning Point Brands, Inc. (NYSE:TPB) Receives $116.67 Average Price Target from Analysts

Turning Point Brands, Inc. (NYSE:TPB) has been assigned an average recommendation of “Moderate Buy” from the five research firms that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year target price among analysts that have covered the stock in the last year is $116.6667.

TPB has been the topic of several research reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Turning Point Brands in a research note on Tuesday, December 23rd. Alliance Global Partners raised their target price on shares of Turning Point Brands from $103.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. iA Financial set a $110.00 price target on shares of Turning Point Brands in a research report on Wednesday, November 5th. Oppenheimer restated an “outperform” rating and issued a $130.00 price objective on shares of Turning Point Brands in a report on Wednesday, January 14th. Finally, Wall Street Zen cut shares of Turning Point Brands from a “buy” rating to a “hold” rating in a research note on Saturday, January 17th.

Insiders Place Their Bets

In related news, Chairman David Edward Glazek sold 30,000 shares of Turning Point Brands stock in a transaction on Friday, December 19th. The stock was sold at an average price of $110.26, for a total transaction of $3,307,800.00. Following the completion of the sale, the chairman directly owned 127,083 shares of the company’s stock, valued at $14,012,171.58. The trade was a 19.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Lawrence Wexler sold 21,069 shares of the firm’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $100.02, for a total value of $2,107,321.38. Following the transaction, the director owned 290,765 shares in the company, valued at approximately $29,082,315.30. This trade represents a 6.76% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 96,220 shares of company stock worth $9,958,542 over the last three months. Insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On Turning Point Brands

A number of hedge funds have recently modified their holdings of the business. GAMMA Investing LLC lifted its stake in Turning Point Brands by 90.7% in the second quarter. GAMMA Investing LLC now owns 328 shares of the company’s stock valued at $25,000 after buying an additional 156 shares in the last quarter. First Horizon Corp bought a new stake in Turning Point Brands during the 3rd quarter worth about $25,000. Caitong International Asset Management Co. Ltd bought a new stake in Turning Point Brands during the third quarter worth about $28,000. Advisory Services Network LLC bought a new stake in shares of Turning Point Brands during the 3rd quarter worth approximately $28,000. Finally, Briaud Financial Planning Inc bought a new stake in Turning Point Brands during the second quarter worth $31,000. Institutional investors and hedge funds own 96.12% of the company’s stock.

Turning Point Brands Trading Up 3.7%

Shares of NYSE TPB opened at $129.86 on Tuesday. Turning Point Brands has a 1-year low of $51.48 and a 1-year high of $130.69. The company has a 50-day moving average of $111.38 and a two-hundred day moving average of $100.59. The company has a market cap of $2.48 billion, a PE ratio of 45.73 and a beta of 0.87. The company has a current ratio of 5.56, a quick ratio of 3.98 and a debt-to-equity ratio of 0.82.

Turning Point Brands (NYSE:TPB) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.46. Turning Point Brands had a net margin of 12.02% and a return on equity of 24.44%. The business had revenue of $118.98 million during the quarter, compared to analyst estimates of $111.42 million. During the same quarter last year, the business posted $0.68 earnings per share. Turning Point Brands’s revenue for the quarter was up 12.7% compared to the same quarter last year. As a group, equities analysts expect that Turning Point Brands will post 2.59 earnings per share for the current fiscal year.

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.