Analysts Set Turning Point Brands, Inc. (NYSE:TPB) Target Price at $102.50

Turning Point Brands, Inc. (NYSE:TPB) has been given a consensus rating of “Moderate Buy” by the five ratings firms that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $113.3333.

Several research analysts have recently commented on TPB shares. Alliance Global Partners lifted their price objective on Turning Point Brands from $103.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Oppenheimer raised their price target on Turning Point Brands from $110.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 19th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Turning Point Brands in a research report on Tuesday, December 23rd. Industrial Alliance Securities set a $110.00 price objective on Turning Point Brands in a research note on Wednesday, November 5th. Finally, Zacks Research downgraded shares of Turning Point Brands from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th.

Insider Activity

In other news, Director Gregory H.A. Baxter sold 1,500 shares of the stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $98.23, for a total transaction of $147,345.00. Following the completion of the sale, the director directly owned 38,919 shares in the company, valued at approximately $3,823,013.37. This represents a 3.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Brittani Cushman sold 15,250 shares of the business’s stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $101.66, for a total value of $1,550,315.00. Following the transaction, the senior vice president owned 34,687 shares in the company, valued at approximately $3,526,280.42. This represents a 30.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 96,220 shares of company stock valued at $9,958,542. 6.60% of the stock is owned by corporate insiders.

Institutional Trading of Turning Point Brands

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TPB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Turning Point Brands by 4.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,198 shares of the company’s stock valued at $606,000 after acquiring an additional 459 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Turning Point Brands by 1.9% during the 1st quarter. Rhumbline Advisers now owns 24,531 shares of the company’s stock valued at $1,458,000 after purchasing an additional 464 shares in the last quarter. Militia Capital Partners LP boosted its stake in shares of Turning Point Brands by 100.0% during the 1st quarter. Militia Capital Partners LP now owns 14,000 shares of the company’s stock valued at $832,000 after purchasing an additional 7,000 shares in the last quarter. Voya Investment Management LLC increased its position in shares of Turning Point Brands by 20.2% during the first quarter. Voya Investment Management LLC now owns 18,933 shares of the company’s stock valued at $1,125,000 after buying an additional 3,187 shares during the period. Finally, Longboard Asset Management LP bought a new position in Turning Point Brands in the second quarter worth about $236,000. Hedge funds and other institutional investors own 96.12% of the company’s stock.

Turning Point Brands Trading Up 6.8%

Shares of TPB opened at $109.87 on Friday. The firm has a market cap of $2.10 billion, a price-to-earnings ratio of 38.69 and a beta of 0.86. The company has a debt-to-equity ratio of 0.82, a quick ratio of 3.98 and a current ratio of 5.56. Turning Point Brands has a fifty-two week low of $51.48 and a fifty-two week high of $113.31. The firm has a 50 day moving average price of $103.03 and a 200-day moving average price of $94.40.

Turning Point Brands (NYSE:TPB) last released its earnings results on Wednesday, November 5th. The company reported $1.27 EPS for the quarter, beating the consensus estimate of $0.81 by $0.46. The company had revenue of $118.98 million for 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 quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.68 EPS. As a group, equities research analysts forecast that Turning Point Brands will post 2.59 earnings per share for the current year.

Turning Point Brands Dividend Announcement

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

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.