Brokerages Set Turning Point Brands, Inc. (NYSE:TPB) Target Price at $118.75

Shares of Turning Point Brands, Inc. (NYSE:TPB) have received an average recommendation of “Hold” from the five ratings firms that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $118.75.

A number of brokerages have recently weighed in on TPB. Wall Street Zen upgraded Turning Point Brands from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 6th. Weiss Ratings lowered Turning Point Brands from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, June 2nd. Finally, Needham & Company LLC upgraded Turning Point Brands from a “hold” rating to a “buy” rating and set a $125.00 price objective on the stock in a research report on Friday, May 8th.

Insider Activity at Turning Point Brands

In related news, CAO Brian Wigginton sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $91.67, for a total transaction of $366,680.00. Following the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 5.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. SWP Investment Management LLC bought a new stake in shares of Turning Point Brands in the second quarter valued at approximately $2,174,000. Militia Capital Management LLC acquired a new position in Turning Point Brands in the 1st quarter valued at $3,472,000. Norris Financial Group LLC acquired a new position in Turning Point Brands in the 1st quarter valued at $4,151,000. Bank of America Corp DE lifted its position in shares of Turning Point Brands by 66.9% during the 1st quarter. Bank of America Corp DE now owns 290,813 shares of the company’s stock valued at $25,240,000 after acquiring an additional 116,543 shares during the period. Finally, Riposte Capital LLC grew its holdings 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 in the last quarter. 96.12% of the stock is owned by institutional investors.

Turning Point Brands Price Performance

Shares of TPB opened at $87.90 on Friday. The firm has a market capitalization of $1.70 billion, a PE ratio of 29.90 and a beta of 0.92. The company has a debt-to-equity ratio of 0.76, a current ratio of 5.87 and a quick ratio of 4.05. The company’s 50-day moving average is $85.72 and its 200-day moving average is $97.52. Turning Point Brands has a fifty-two week low of $65.80 and a fifty-two week high of $146.90.

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

Turning Point Brands Dividend Announcement

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

Turning Point Brands Company Profile

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.