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

Shares of Turning Point Brands, Inc. (NYSE:TPB) have been given an average recommendation of “Buy” by the six analysts that are currently covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $76.67.

Several research firms have issued reports on TPB. Oppenheimer lifted their price target on Turning Point Brands from $65.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday, May 8th. Wall Street Zen raised Turning Point Brands from a “hold” rating to a “buy” rating in a research note on Wednesday, May 14th.

Turning Point Brands Stock Down 1.0%

NYSE:TPB opened at $78.88 on Friday. The firm has a market capitalization of $1.41 billion, a P/E ratio of 34.60 and a beta of 0.75. Turning Point Brands has a 12-month low of $34.78 and a 12-month high of $81.25. The company has a quick ratio of 2.64, a current ratio of 4.42 and a debt-to-equity ratio of 1.44. The stock’s fifty day simple moving average is $74.09 and its 200-day simple moving average is $65.68.

Turning Point Brands (NYSE:TPB) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.75 by $0.16. The business had revenue of $106.44 million for the quarter, compared to the consensus estimate of $95.75 million. Turning Point Brands had a return on equity of 27.70% and a net margin of 10.19%. The firm’s revenue was up 28.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.63 EPS. Equities research analysts expect that Turning Point Brands will post 2.59 earnings per share for the current year.

Turning Point Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 20th were given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date was Friday, June 20th. Turning Point Brands’s dividend payout ratio is currently 13.16%.

Insiders Place Their Bets

In other Turning Point Brands news, SVP Brittani Cushman sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $74.36, for a total transaction of $557,700.00. Following the transaction, the senior vice president owned 34,687 shares of the company’s stock, valued at $2,579,325.32. The trade was a 17.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Brian Wigginton sold 10,800 shares of the business’s stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $75.67, for a total value of $817,236.00. Following the sale, the chief accounting officer owned 10,171 shares of the company’s stock, valued at approximately $769,639.57. This represents a 51.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 115,300 shares of company stock valued at $8,666,867 in the last quarter. 6.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in Turning Point Brands by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 1,524,640 shares of the company’s stock valued at $91,631,000 after acquiring an additional 18,440 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in Turning Point Brands by 36.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 318,552 shares of the company’s stock valued at $19,145,000 after acquiring an additional 84,552 shares during the last quarter. D. E. Shaw & Co. Inc. boosted its position in Turning Point Brands by 1.1% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 243,691 shares of the company’s stock valued at $14,646,000 after acquiring an additional 2,667 shares during the last quarter. Northern Right Capital Management L.P. boosted its position in Turning Point Brands by 63.9% during the first quarter. Northern Right Capital Management L.P. now owns 220,178 shares of the company’s stock valued at $13,087,000 after acquiring an additional 85,824 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Turning Point Brands by 40.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 203,706 shares of the company’s stock valued at $12,243,000 after acquiring an additional 58,425 shares during the last quarter. 96.12% of the stock is currently owned by institutional investors and hedge funds.

Turning Point Brands Company Profile

Turning Point Brands, Inc, together with its subsidiaries, manufactures, markets, and distributes branded consumer products. The company operates through three segments: Zig-Zag Products, Stoker’s Products, and Creative Distribution Solutions. Zig-Zag Products segment markets and distributes rolling papers, tubes, finished cigars, make-your-own cigar wraps, and related products, as well as lighters and other accessories under the Zig-Zag brand.