Turning Point Brands, Inc. (NYSE:TPB) Receives Consensus Recommendation of “Buy” from Analysts

Turning Point Brands, Inc. (NYSE:TPB) has received a consensus recommendation of “Buy” from the six research firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $102.50.

TPB has been the subject of several recent research reports. Industrial Alliance Securities set a $110.00 price target on shares of Turning Point Brands in a report on Wednesday, November 5th. Alliance Global Partners lifted their price target on Turning Point Brands from $103.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Oppenheimer boosted their price target on Turning Point Brands from $110.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, November 19th. Zacks Research raised Turning Point Brands from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 12th. Finally, Wall Street Zen lowered Turning Point Brands from a “buy” rating to a “hold” rating in a research report on Saturday, December 13th.

Insider Activity at Turning Point Brands

In other Turning Point Brands news, Director Lawrence Wexler sold 10,401 shares of Turning Point Brands stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $99.03, for a total value of $1,030,011.03. Following the completion of the transaction, the director owned 280,368 shares of the company’s stock, valued at approximately $27,764,843.04. The trade was a 3.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gregory H.A. Baxter sold 1,500 shares of the stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $98.23, for a total transaction of $147,345.00. Following the sale, the director directly owned 38,919 shares in the company, valued at approximately $3,823,013.37. The trade was a 3.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 66,220 shares of company stock valued at $6,650,742 in the last quarter. 6.60% of the stock is currently owned by insiders.

Institutional Trading of Turning Point Brands

A number of institutional investors and hedge funds have recently made changes to their positions in TPB. GAMMA Investing LLC lifted its position in shares of Turning Point Brands by 90.7% during the 2nd 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 acquired a new position in Turning Point Brands during the third quarter worth $25,000. Caitong International Asset Management Co. Ltd purchased a new position in Turning Point Brands during the third quarter valued at $28,000. Advisory Services Network LLC acquired a new stake in shares of Turning Point Brands in the third quarter valued at about $28,000. Finally, Briaud Financial Planning Inc purchased a new stake in shares of Turning Point Brands during the second quarter worth about $31,000. 96.12% of the stock is currently owned by hedge funds and other institutional investors.

Turning Point Brands Price Performance

Shares of TPB stock opened at $109.10 on Monday. The stock has a 50 day moving average price of $97.73 and a 200 day moving average price of $90.80. Turning Point Brands has a 52-week low of $51.48 and a 52-week high of $113.31. The company has a debt-to-equity ratio of 0.82, a quick ratio of 3.98 and a current ratio of 5.56. The firm has a market capitalization of $2.08 billion, a P/E ratio of 38.42 and a beta of 0.89.

Turning Point Brands (NYSE:TPB) last released its earnings results on Wednesday, November 5th. The company reported $1.27 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.46. The business had revenue of $118.98 million during the quarter, compared to the consensus estimate of $111.42 million. Turning Point Brands had a return on equity of 24.44% and a net margin of 12.02%.The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period last year, the company earned $0.68 earnings per share. As a group, sell-side analysts predict that Turning Point Brands will post 2.59 earnings per share for the current year.

Turning Point Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Friday, December 19th will be given a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 0.3%. The ex-dividend date is Friday, December 19th. Turning Point Brands’s dividend payout ratio is currently 10.56%.

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.