Analysts Set Turning Point Brands, Inc. (NYSE:TPB) PT at $118.75

Turning Point Brands, Inc. (NYSE:TPB) has been assigned a consensus recommendation of “Hold” from the five research firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $118.75.

Several analysts recently weighed in on the company. Wall Street Zen upgraded Turning Point Brands from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 6th. Zacks Research downgraded Turning Point Brands from a “hold” rating to a “strong sell” rating in a research note on Monday, March 2nd. Weiss Ratings downgraded Turning Point Brands from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, June 2nd. Finally, Needham & Company LLC upgraded Turning Point Brands from a “hold” rating to a “buy” rating and set a $125.00 price target on the stock in a research note on Friday, May 8th.

Insider Buying and Selling at Turning Point Brands

In related news, CAO Brian Wigginton sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $91.67, for a total value of $366,680.00. Following the sale, the chief accounting officer owned 9,230 shares in the company, valued at $846,114.10. This represents a 30.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 5.40% of the stock is owned by insiders.

Institutional Trading of Turning Point Brands

Hedge funds and other institutional investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Turning Point Brands by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,198 shares of the company’s stock valued at $606,000 after purchasing an additional 459 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in Turning Point Brands by 1,428.7% during the 2nd quarter. Russell Investments Group Ltd. now owns 4,586 shares of the company’s stock valued at $347,000 after purchasing an additional 4,286 shares during the last quarter. First Trust Advisors LP boosted its stake in Turning Point Brands by 150.8% during the 2nd quarter. First Trust Advisors LP now owns 141,995 shares of the company’s stock valued at $10,759,000 after purchasing an additional 85,378 shares during the last quarter. Baird Financial Group Inc. purchased a new stake in Turning Point Brands during the 2nd quarter valued at $220,000. Finally, Qube Research & Technologies Ltd boosted its stake in Turning Point Brands by 21.3% during the 2nd quarter. Qube Research & Technologies Ltd now owns 182,812 shares of the company’s stock valued at $13,852,000 after purchasing an additional 32,109 shares during the last quarter. Hedge funds and other institutional investors own 96.12% of the company’s stock.

Turning Point Brands Stock Up 1.7%

TPB stock opened at $82.29 on Monday. Turning Point Brands has a fifty-two week low of $65.80 and a fifty-two week high of $146.90. The business’s 50 day moving average price is $83.25 and its two-hundred day moving average price is $100.03. The company has a debt-to-equity ratio of 0.76, a quick ratio of 4.05 and a current ratio of 5.87. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of 27.99 and a beta of 0.92.

Turning Point Brands (NYSE:TPB) last posted its earnings results 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 firm had revenue of $124.28 million for the quarter, compared to the consensus estimate of $115.67 million. During the same quarter in the prior year, the business earned $0.91 EPS. The business’s revenue for the quarter was up 16.8% on a year-over-year basis. As a group, analysts forecast that Turning Point Brands will post 1.43 earnings per share for the current fiscal year.

Turning Point Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Friday, June 19th will be paid a $0.08 dividend. The ex-dividend date is Thursday, June 18th. This represents a $0.32 annualized dividend and a dividend yield of 0.4%. Turning Point Brands’s dividend payout ratio is presently 10.88%.

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.