Analysts Anticipate Turning Point Brands, Inc. (NYSE:TPB) to Post $0.36 Earnings Per Share
Shares of Turning Point Brands, Inc. (NYSE:TPB) have received a consensus broker rating score of 1.00 (Strong Buy) from the two analysts that cover the stock, Zacks Investment Research reports. Two analysts have rated the stock with a strong buy recommendation.
Brokers have set a 12-month consensus price objective of $18.00 for the company and are anticipating that the company will post $0.36 EPS for the current quarter, according to Zacks. Zacks has also assigned Turning Point Brands an industry rank of 122 out of 265 based on the ratings given to related companies.
A number of research firms have recently issued reports on TPB. Zacks Investment Research upgraded shares of Turning Point Brands from a “sell” rating to a “hold” rating in a research note on Tuesday, July 18th. FBR & Co restated a “buy” rating and set a $17.00 target price on shares of Turning Point Brands in a research note on Friday, May 12th. Finally, Cowen and Company restated an “outperform” rating and set a $19.00 target price (up previously from $18.00) on shares of Turning Point Brands in a research note on Monday, May 15th.
Shares of Turning Point Brands (NYSE:TPB) traded down 1.60% on Thursday, hitting $14.77. 15,118 shares of the stock were exchanged. Turning Point Brands has a one year low of $8.67 and a one year high of $18.05. The firm has a market capitalization of $278.34 million, a PE ratio of 11.59 and a beta of 0.52. The company has a 50-day moving average price of $15.34 and a 200-day moving average price of $14.96.
Turning Point Brands (NYSE:TPB) last posted its earnings results on Thursday, May 11th. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by $0.03. The company had revenue of $66.80 million for the quarter, compared to analyst estimates of $64.90 million. Turning Point Brands had a return on equity of 131.39% and a net margin of 11.90%. The business’s quarterly revenue was up 33.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.12 EPS. Equities research analysts expect that Turning Point Brands will post $1.32 earnings per share for the current year.
In other news, insider James Wells Dobbins sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $16.67, for a total transaction of $100,020.00. Following the completion of the sale, the insider now owns 90,041 shares in the company, valued at approximately $1,500,983.47. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Lawrence Wexler sold 1,858 shares of the firm’s stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $16.42, for a total transaction of $30,508.36. Following the sale, the insider now owns 219,137 shares of the company’s stock, valued at approximately $3,598,229.54. The disclosure for this sale can be found here.
Several hedge funds have recently bought and sold shares of TPB. Acadian Asset Management LLC boosted its stake in Turning Point Brands by 351.0% in the first quarter. Acadian Asset Management LLC now owns 6,530 shares of the company’s stock worth $102,000 after buying an additional 5,082 shares in the last quarter. Bessemer Group Inc. acquired a new stake in shares of Turning Point Brands during the second quarter valued at $143,000. potrero capital research llc acquired a new stake in shares of Turning Point Brands during the first quarter valued at $356,000. Spark Investment Management LLC boosted its stake in shares of Turning Point Brands by 33.7% in the first quarter. Spark Investment Management LLC now owns 23,400 shares of the company’s stock valued at $365,000 after buying an additional 5,900 shares during the period. Finally, Steinberg Global Asset Management acquired a new stake in shares of Turning Point Brands during the first quarter valued at $458,000. Institutional investors own 68.69% of the company’s stock.
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Turning Point Brands Company Profile
Turning Point Brands, Inc is an independent provider of Other Tobacco Products (OTP) in the United States. The Company operates in three segments smokeless products, smoking products and NewGen products. The smokeless products segment manufactures and markets moist snuff; and contracts for and markets chewing tobacco products.
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