Brokerages Set Turning Point Brands, Inc. (NYSE:TPB) Target Price at $113.50

Turning Point Brands, Inc. (NYSE:TPB) has been assigned an average recommendation of “Moderate Buy” from the six ratings firms that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $113.50.

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

Turning Point Brands Trading Down 1.5%

NYSE TPB opened at $74.90 on Tuesday. The company has a quick ratio of 4.05, a current ratio of 5.87 and a debt-to-equity ratio of 0.76. Turning Point Brands has a twelve month low of $65.80 and a twelve month high of $146.90. The company has a market cap of $1.45 billion, a price-to-earnings ratio of 25.48 and a beta of 0.92. The business’s fifty day moving average is $82.88 and its 200 day moving average is $94.50.

Turning Point Brands (NYSE:TPB) last issued 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. Turning Point Brands had a return on equity of 16.54% and a net margin of 11.53%.The business had revenue of $124.28 million for the quarter, compared to analyst estimates of $115.67 million. During the same quarter in the previous year, the company posted $0.91 EPS. Turning Point Brands’s quarterly revenue was up 16.8% compared to the same quarter last year. As a group, sell-side analysts expect that Turning Point Brands will post 1.39 EPS for the current fiscal year.

Turning Point Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Friday, September 18th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, September 18th. This represents a $0.32 annualized dividend and a dividend yield of 0.4%. Turning Point Brands’s dividend payout ratio (DPR) is presently 10.88%.

Insider Activity at Turning Point Brands

In other news, CAO Brian Wigginton sold 4,000 shares of Turning Point Brands stock in a transaction 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 5.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Lord Abbett & CO. LLC acquired a new position in shares of Turning Point Brands in the fourth quarter worth approximately $28,454,000. Madison Avenue Partners LP bought a new stake in Turning Point Brands in the fourth quarter valued at approximately $26,853,000. Wellington Management Group LLP acquired a new stake in Turning Point Brands during the 3rd quarter valued at approximately $20,788,000. First Trust Advisors LP increased its position in Turning Point Brands by 72.4% during the 4th quarter. First Trust Advisors LP now owns 494,262 shares of the company’s stock valued at $53,578,000 after purchasing an additional 207,604 shares during the period. Finally, Copeland Capital Management LLC raised its holdings in Turning Point Brands by 29,795.8% during the 4th quarter. Copeland Capital Management LLC now owns 204,188 shares of the company’s stock worth $22,134,000 after purchasing an additional 203,505 shares during the last quarter. 96.12% of the stock is 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.