Turning Point Brands, Inc. (NYSE:TPB) Given Consensus Rating of “Buy” by Brokerages

Shares of Turning Point Brands, Inc. (NYSE:TPB) have earned an average rating of “Buy” from the six research firms that are currently covering the stock, Marketbeat Ratings reports. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $76.67.

A number of research analysts have recently issued reports on the stock. Alliance Global Partners began coverage on shares of Turning Point Brands in a research report on Monday, March 3rd. They issued a “buy” rating and a $80.00 price target on the stock. Industrial Alliance Securities set a $85.00 target price on shares of Turning Point Brands in a research note on Thursday, March 6th. Oppenheimer upped their price target on shares of Turning Point Brands from $65.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, May 8th. Finally, Wall Street Zen upgraded Turning Point Brands from a “hold” rating to a “buy” rating in a report on Wednesday, May 14th.

Turning Point Brands Stock Down 2.8%

Shares of NYSE:TPB opened at $71.38 on Thursday. The firm has a market cap of $1.28 billion, a P/E ratio of 28.33 and a beta of 0.69. Turning Point Brands has a 12-month low of $30.61 and a 12-month high of $81.05. The business has a fifty day simple moving average of $63.37 and a 200 day simple moving average of $62.15. The company has a quick ratio of 1.78, a current ratio of 4.21 and a debt-to-equity ratio of 1.33.

Turning Point Brands (NYSE:TPB) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.16. The company had revenue of $106.44 million for the quarter, compared to analyst estimates of $95.75 million. Turning Point Brands had a return on equity of 33.14% and a net margin of 11.63%. The firm’s quarterly revenue was up 28.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.63 earnings per share. Analysts predict that Turning Point Brands will post 2.59 earnings per share for the current year.

Turning Point Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 20th will be given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 0.42%. The ex-dividend date is Friday, June 20th. Turning Point Brands’s dividend payout ratio (DPR) is 13.16%.

Insider Activity

In other Turning Point Brands news, Director Gregory H.A. Baxter sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $73.64, for a total value of $110,460.00. Following the completion of the sale, the director now owns 40,419 shares of the company’s stock, valued at approximately $2,976,455.16. This trade represents a 3.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Brian Wigginton sold 3,500 shares of the business’s stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $75.75, for a total value of $265,125.00. Following the sale, the chief accounting officer now owns 10,171 shares of the company’s stock, valued at approximately $770,453.25. This represents a 25.60% decrease in their position. The disclosure for this sale can be found here. 6.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Turning Point Brands

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its position in Turning Point Brands by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 1,524,640 shares of the company’s stock valued at $91,631,000 after purchasing an additional 18,440 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in shares of Turning Point Brands by 36.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 318,552 shares of the company’s stock valued at $19,145,000 after buying an additional 84,552 shares in the last quarter. D. E. Shaw & Co. Inc. grew its holdings in shares of 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 buying an additional 2,667 shares during the last quarter. Northern Right Capital Management L.P. grew its holdings in shares of 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 buying an additional 85,824 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of 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 worth $12,243,000 after acquiring an additional 58,425 shares in the last quarter. 96.12% of the stock is owned by institutional investors and hedge funds.

About Turning Point Brands

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.