Turning Point Brands (NYSE:TPB) Upgraded at BTIG Research

BTIG Research upgraded shares of Turning Point Brands (NYSE:TPB) to a strong-buy rating in a report released on Tuesday morning,Zacks.com reports.

Several other equities analysts have also recently issued reports on the company. Weiss Ratings cut Turning Point Brands from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, June 2nd. Compass Point set a $103.00 price target on Turning Point Brands in a report on Tuesday. Wall Street Zen raised shares of Turning Point Brands from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 6th. Finally, Needham & Company LLC upgraded shares of 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. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $113.50.

Turning Point Brands Stock Performance

TPB opened at $72.86 on Tuesday. Turning Point Brands has a 12-month low of $65.80 and a 12-month high of $146.90. The company has a current ratio of 5.87, a quick ratio of 4.05 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $1.41 billion, a PE ratio of 24.78 and a beta of 0.92. The firm has a 50 day moving average of $84.41 and a two-hundred day moving average of $95.62.

Turning Point Brands (NYSE:TPB) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.68 by $0.08. The business had revenue of $124.28 million for the quarter, compared to the consensus estimate of $115.67 million. Turning Point Brands had a net margin of 11.53% and a return on equity of 16.54%. The business’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.91 EPS. On average, analysts anticipate that Turning Point Brands will post 1.39 EPS for the current year.

Turning Point Brands Announces Dividend

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

Insider Transactions at Turning Point Brands

In other Turning Point Brands news, CAO Brian Wigginton sold 4,000 shares of the firm’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 directly owned 9,230 shares of the company’s stock, valued at approximately $846,114.10. This trade represents a 30.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 5.40% of the company’s stock.

Institutional Investors Weigh In On Turning Point Brands

A number of institutional investors have recently added to or reduced their stakes in TPB. SWP Investment Management LLC purchased a new stake in Turning Point Brands in the 2nd quarter worth $2,174,000. Militia Capital Management LLC acquired a new stake in shares of Turning Point Brands in the first quarter valued at about $3,472,000. Norris Financial Group LLC purchased a new stake in shares of Turning Point Brands during the first quarter worth about $4,151,000. Bank of America Corp DE increased its stake in shares of Turning Point Brands by 66.9% during the first quarter. Bank of America Corp DE now owns 290,813 shares of the company’s stock worth $25,240,000 after purchasing an additional 116,543 shares in the last quarter. Finally, Riposte Capital LLC raised its position in shares of Turning Point Brands by 50.0% during the 1st quarter. Riposte Capital LLC now owns 150,000 shares of the company’s stock worth $13,018,000 after purchasing an additional 50,000 shares during the last quarter. Institutional investors and hedge funds 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.