Turning Point Brands, Inc. (NYSE:TPB) Stock Has Average Target Price of $109.00

Turning Point Brands, Inc. (NYSE:TPB) has been assigned a consensus rating of “Moderate Buy” from the six analysts that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $109.00.

A number of equities research analysts have commented on the stock. BTIG Research reissued a “buy” rating on shares of Turning Point Brands in a report on Monday, August 10th. Weiss Ratings restated a “hold (c)” rating on shares of Turning Point Brands in a research report on Friday, August 28th. Oppenheimer lowered their price objective on shares of Turning Point Brands from $130.00 to $90.00 and set an “outperform” rating for the company in a research report on Tuesday, September 22nd. Wall Street Zen raised shares of Turning Point Brands from a “strong sell” rating to a “sell” rating in a research note on Monday, August 10th. Finally, Compass Point set a $116.00 target price on shares of Turning Point Brands in a research report on Monday, August 10th.

Turning Point Brands Price Performance

Turning Point Brands stock opened at $60.26 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 4.16 and a current ratio of 5.67. The firm has a market cap of $1.17 billion, a P/E ratio of 24.76 and a beta of 0.97. The business’s fifty day moving average is $71.94 and its two-hundred day moving average is $78.91. Turning Point Brands has a 52 week low of $54.17 and a 52 week high of $146.90.

Turning Point Brands (NYSE:TPB) last announced its earnings results on Tuesday, August 4th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.12 by $0.11. Turning Point Brands had a return on equity of 11.35% and a net margin of 8.78%. The company had revenue of $142.96 million for the quarter, compared to analysts’ expectations of $129.56 million. During the same quarter in the prior year, the business earned $0.98 earnings per share. The business’s revenue for the quarter was up 22.6% on a year-over-year basis. Equities research analysts forecast that Turning Point Brands will post 1.19 earnings per share for the current fiscal year.

Turning Point Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 9th. Stockholders of record on Friday, September 18th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Friday, September 18th. Turning Point Brands’s dividend payout ratio is 13.73%.

Institutional Trading of Turning Point Brands

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. State of Alaska Department of Revenue increased its stake in shares of Turning Point Brands by 2.5% in the 3rd quarter. State of Alaska Department of Revenue now owns 6,963 shares of the company’s stock valued at $408,000 after buying an additional 171 shares during the period. Copeland Capital Management LLC raised its position in shares of Turning Point Brands by 2.6% during the third quarter. Copeland Capital Management LLC now owns 708,507 shares of the company’s stock worth $41,589,000 after acquiring an additional 18,184 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Turning Point Brands by 103.3% during the third quarter. GAMMA Investing LLC now owns 681 shares of the company’s stock worth $40,000 after acquiring an additional 346 shares during the last quarter. Operose Advisors LLC acquired a new position in shares of Turning Point Brands during the second quarter valued at $42,000. Finally, Maple Rock Capital Partners Inc. lifted its stake in shares of Turning Point Brands by 57.5% during the second quarter. Maple Rock Capital Partners Inc. now owns 686,800 shares of the company’s stock valued at $58,248,000 after acquiring an additional 250,800 shares during the period. Institutional investors and hedge funds own 96.12% of the company’s stock.

Turning Point Brands Company Profile

Turning Point Brands, Inc is a Louisville, Kentucky-based consumer products company focused primarily on tobacco, nicotine and related products. The company develops, manufactures, markets and distributes products through convenience stores, tobacco shops, mass merchants, e-commerce channels and other retailers in the United States and select international markets.

Its portfolio includes rolling papers, cigar and cigarette wraps, and other smoking accessories sold under the Zig-Zag brand; moist snuff and other smokeless tobacco products marketed under the Stoker’s brand; and modern oral nicotine products, including FRE nicotine pouches.