Turning Point Brands, Inc. (NYSE:TPB) Given Average Recommendation of “Moderate Buy” by Analysts

Turning Point Brands, Inc. (NYSE:TPB) has earned an average recommendation of “Moderate Buy” from the five brokerages that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $116.6667.

Several analysts recently weighed in on TPB shares. Wall Street Zen lowered Turning Point Brands from a “buy” rating to a “hold” rating in a report on Saturday, January 17th. Alliance Global Partners upped their price target on Turning Point Brands from $103.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Zacks Research cut Turning Point Brands from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Industrial Alliance Securities set a $110.00 target price on shares of Turning Point Brands in a research note on Wednesday, November 5th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Turning Point Brands in a report on Tuesday, December 23rd.

Turning Point Brands Stock Up 3.1%

Shares of NYSE:TPB opened at $124.91 on Tuesday. The firm has a market cap of $2.38 billion, a PE ratio of 43.98 and a beta of 0.87. The company has a fifty day simple moving average of $109.17 and a 200 day simple moving average of $99.37. The company has a current ratio of 5.56, a quick ratio of 3.98 and a debt-to-equity ratio of 0.82. Turning Point Brands has a 12-month low of $51.48 and a 12-month high of $125.91.

Turning Point Brands (NYSE:TPB) last announced its quarterly earnings data 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 company had revenue of $118.98 million during the quarter, compared to analyst estimates of $111.42 million. Turning Point Brands had a net margin of 12.02% and a return on equity of 24.44%. The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period last year, the business earned $0.68 EPS. On average, equities research analysts anticipate that Turning Point Brands will post 2.59 EPS for the current fiscal year.

Turning Point Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 9th. Shareholders of record on Friday, December 19th were issued a $0.075 dividend. The ex-dividend date of this dividend was Friday, December 19th. This represents a $0.30 dividend on an annualized basis and a yield of 0.2%. Turning Point Brands’s dividend payout ratio (DPR) is currently 10.56%.

Insider Activity at Turning Point Brands

In other news, Director H.C. Charles Diao sold 2,000 shares of the stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $108.20, for a total transaction of $216,400.00. Following the sale, the director directly owned 9,804 shares in the company, valued at approximately $1,060,792.80. This represents a 16.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Brittani Cushman sold 15,250 shares of the firm’s stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $101.66, for a total value of $1,550,315.00. Following the completion of the sale, the senior vice president directly owned 34,687 shares in the company, valued at approximately $3,526,280.42. This trade represents a 30.54% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 96,220 shares of company stock valued at $9,958,542. 6.60% of the stock is owned by insiders.

Institutional Trading of Turning Point Brands

Several hedge funds have recently added to or reduced their stakes in TPB. GAMMA Investing LLC grew its stake in shares of Turning Point Brands by 90.7% in the second quarter. GAMMA Investing LLC now owns 328 shares of the company’s stock worth $25,000 after purchasing an additional 156 shares in the last quarter. First Horizon Corp acquired a new stake in Turning Point Brands in the third quarter worth about $25,000. Caitong International Asset Management Co. Ltd bought a new position in Turning Point Brands in the 3rd quarter valued at about $28,000. Advisory Services Network LLC acquired a new position in Turning Point Brands during the 3rd quarter valued at about $28,000. Finally, Briaud Financial Planning Inc bought a new stake in shares of Turning Point Brands during the 2nd quarter worth about $31,000. Institutional investors own 96.12% of the company’s stock.

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.