Turning Point Brands, Inc. (NYSE:TPB) Receives Average Rating of “Moderate Buy” from Brokerages

Turning Point Brands, Inc. (NYSE:TPB) has been given a consensus rating of “Moderate Buy” by the six analysts that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $115.6667.

TPB has been the subject of several analyst reports. BTIG Research restated a “buy” rating on shares of Turning Point Brands in a report on Monday, August 10th. Wall Street Zen upgraded Turning Point Brands from a “strong sell” rating to a “sell” rating in a report on Monday, August 10th. Compass Point set a $116.00 price objective on shares of Turning Point Brands in a research note on Monday, August 10th. Needham & Company LLC raised shares of Turning Point Brands from a “hold” rating to a “buy” rating and set a $125.00 price objective for the company in a report on Friday, May 8th. Finally, Weiss Ratings downgraded shares of Turning Point Brands from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, June 2nd.

Institutional Investors Weigh In On Turning Point Brands

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Kemnay Advisory Services Inc. acquired a new position in Turning Point Brands during the 4th quarter valued at $27,000. Empowered Funds LLC acquired a new stake in Turning Point Brands in the 4th quarter worth $27,000. Caitong International Asset Management Co. Ltd acquired a new stake in Turning Point Brands in the 3rd quarter worth $28,000. Advisory Services Network LLC bought a new position in shares of Turning Point Brands during the 3rd quarter worth about $28,000. Finally, Operose Advisors LLC bought a new position in shares of Turning Point Brands during the 2nd quarter worth about $42,000. Institutional investors and hedge funds own 96.12% of the company’s stock.

Turning Point Brands Stock Up 0.1%

TPB stock opened at $84.34 on Friday. The firm has a market cap of $1.63 billion, a PE ratio of 36.20 and a beta of 0.91. Turning Point Brands has a 1 year low of $65.80 and a 1 year high of $146.90. The company has a fifty day simple moving average of $83.41 and a 200 day simple moving average of $89.64. The company has a current ratio of 5.67, a quick ratio of 4.16 and a debt-to-equity ratio of 0.65.

Turning Point Brands (NYSE:TPB) last posted its earnings results on Tuesday, August 4th. The company reported $0.23 earnings per share for the quarter, beating 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 analyst estimates of $129.56 million. During the same period last year, the company earned $0.98 earnings per share. The business’s revenue was up 22.6% compared to the same quarter last year. Sell-side analysts anticipate that Turning Point Brands will post 1.23 EPS for the current fiscal year.

Turning Point Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 18th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Friday, September 18th. This represents a $0.32 dividend on an annualized basis and a yield of 0.4%. Turning Point Brands’s dividend payout ratio (DPR) is 13.73%.

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.