Turning Point Brands, Inc. (NYSE:TPB) Stock Has Consensus Target Price of $108.50 According to Analysts

Turning Point Brands, Inc. (NYSE:TPB) has earned an average recommendation of “Hold” from the five ratings firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $101.00.

Several analysts recently issued reports on TPB shares. BTIG Research reaffirmed a “buy” rating on shares of Turning Point Brands in a research note on Monday, August 10th. Needham & Company LLC reduced their price objective on Turning Point Brands from $125.00 to $95.00 and set a “buy” rating on the stock in a research report on Tuesday. Compass Point set a $116.00 price objective on Turning Point Brands in a research note on Monday, August 10th. Oppenheimer cut their target price on Turning Point Brands from $130.00 to $90.00 and set an “outperform” rating for the company in a research note on Tuesday, September 22nd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Turning Point Brands in a report on Friday, August 28th.

Hedge Funds Weigh In On Turning Point Brands

A number of hedge funds have recently modified their holdings of TPB. Cibc World Market Inc. raised its stake in shares of Turning Point Brands by 12.4% in the 3rd quarter. Cibc World Market Inc. now owns 12,241 shares of the company’s stock valued at $719,000 after acquiring an additional 1,355 shares during the period. GatePass Capital LLC boosted its stake in shares of Turning Point Brands by 13.4% in the third quarter. GatePass Capital LLC now owns 26,753 shares of the company’s stock valued at $1,570,000 after purchasing an additional 3,153 shares during the period. Bessemer Group Inc. increased its holdings in Turning Point Brands by 15.4% in the third quarter. Bessemer Group Inc. now owns 5,076 shares of the company’s stock valued at $298,000 after buying an additional 679 shares during the last quarter. Phoenix Financial Ltd. increased its stake in Turning Point Brands by 23.4% in the third quarter. Phoenix Financial Ltd. now owns 38,000 shares of the company’s stock valued at $2,234,000 after purchasing an additional 7,200 shares during the last quarter. Finally, Fifth Third Bancorp grew its holdings in shares of Turning Point Brands by 15.8% during the third quarter. Fifth Third Bancorp now owns 2,797 shares of the company’s stock worth $164,000 after purchasing an additional 382 shares during the last quarter. 96.12% of the stock is currently owned by hedge funds and other institutional investors.

Turning Point Brands Stock Down 6.0%

NYSE TPB opened at $59.01 on Thursday. The business has a fifty day moving average price of $64.49 and a 200 day moving average price of $84.92. Turning Point Brands has a one year low of $54.17 and a one year high of $146.90. The company has a debt-to-equity ratio of 0.65, a quick ratio of 4.16 and a current ratio of 5.83. The company has a market cap of $1.17 billion, a P/E ratio of 45.19 and a beta of 1.08.

Turning Point Brands (NYSE:TPB) last announced its earnings results on Monday, November 9th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.21. The company had revenue of $151.10 million for the quarter, compared to analysts’ expectations of $146.68 million. Turning Point Brands had a net margin of 5.08% and a return on equity of 6.60%. The firm’s quarterly revenue was up 27.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.27 EPS. Research analysts anticipate that Turning Point Brands will post 1.19 EPS for the current fiscal year.

Turning Point Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 8th. Stockholders of record on Friday, December 18th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Friday, December 18th. Turning Point Brands’s payout ratio is presently 23.02%.

Turning Point Brands Company Profile

Turning Point Brands, Inc. is a U.S.-based manufacturer, marketer and distributor of branded consumer products, with a portfolio focused on tobacco and nicotine products and related accessories. Its products are sold primarily in the United States, with distribution in international markets as well. The company’s Zig-Zag Products business includes rolling papers, wraps, cones and other products associated with the Zig-Zag brand. Its Stoker’s Products business offers products such as loose-leaf chewing tobacco and moist snuff, along with nicotine pouches sold under brands including Stoker’s and FRE.