Turning Point Brands, Inc. (NYSE:TPB) Receives $115.67 Consensus Price Target from Analysts

Shares of Turning Point Brands, Inc. (NYSE:TPB) have earned an average rating of “Moderate Buy” from the six ratings firms that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $115.6667.

Several analysts have recently commented on TPB shares. Wall Street Zen raised shares of Turning Point Brands from a “strong sell” rating to a “sell” rating in a research note on Monday, August 10th. Weiss Ratings cut shares of Turning Point Brands from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, June 2nd. BTIG Research reaffirmed a “buy” rating on shares of Turning Point Brands in a report on Monday, August 10th. Compass Point set a $116.00 price objective on Turning Point Brands in a research report on Monday, August 10th. Finally, Needham & Company LLC raised Turning Point Brands from a “hold” rating to a “buy” rating and set a $125.00 target price for the company in a research note on Friday, May 8th.

Institutional Trading of Turning Point Brands

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Operose Advisors LLC acquired a new position in Turning Point Brands during the 2nd quarter valued at about $42,000. Maple Rock Capital Partners Inc. grew its position in shares of Turning Point Brands by 57.5% during the 2nd quarter. Maple Rock Capital Partners Inc. now owns 686,800 shares of the company’s stock worth $58,248,000 after buying an additional 250,800 shares during the period. AWH Capital L.P. acquired a new stake in shares of Turning Point Brands during the 2nd quarter worth approximately $6,526,130,000. Bank of America Corp DE bought a new stake in shares of Turning Point Brands during the second quarter worth approximately $47,278,000. Finally, Freestone Grove Partners LP acquired a new position in Turning Point Brands in the second quarter valued at approximately $303,000. 96.12% of the stock is currently owned by institutional investors and hedge funds.

Turning Point Brands Stock Up 2.7%

Shares of NYSE TPB opened at $88.09 on Friday. The firm’s 50-day simple moving average is $83.31 and its 200 day simple moving average is $90.00. The company has a market cap of $1.71 billion, a price-to-earnings ratio of 37.81 and a beta of 0.91. The company has a quick ratio of 4.16, a current ratio of 5.67 and a debt-to-equity ratio of 0.65. Turning Point Brands has a 12-month low of $65.80 and a 12-month high of $146.90.

Turning Point Brands (NYSE:TPB) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.11. Turning Point Brands had a net margin of 8.78% and a return on equity of 11.35%. The firm had revenue of $142.96 million for the quarter, compared to analyst estimates of $129.56 million. During the same quarter in the prior year, the firm earned $0.98 EPS. The company’s revenue was up 22.6% on a year-over-year basis. On average, research analysts expect that Turning Point Brands will post 1.23 earnings per share for the current fiscal year.

Turning Point Brands Dividend Announcement

The company 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. This represents a $0.32 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Friday, September 18th. Turning Point Brands’s dividend payout ratio is 13.73%.

Turning Point Brands Company Profile

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.