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

Shares of Turning Point Brands, Inc. (NYSE:TPB) have received an average rating of “Moderate Buy” from the five ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $113.3333.

A number of brokerages have issued reports on TPB. Alliance Global Partners boosted their price target on shares of Turning Point Brands from $103.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. 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. Industrial Alliance Securities set a $110.00 price target on shares of Turning Point Brands in a research report on Wednesday, November 5th. Oppenheimer upped their price objective 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. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Turning Point Brands in a research note on Tuesday, December 23rd.

Turning Point Brands Price Performance

TPB stock opened at $110.81 on Friday. Turning Point Brands has a 1 year low of $51.48 and a 1 year high of $113.31. The company has a debt-to-equity ratio of 0.82, a current ratio of 5.56 and a quick ratio of 3.98. The firm has a market capitalization of $2.11 billion, a PE ratio of 39.02 and a beta of 0.86. The business has a 50 day simple moving average of $103.66 and a 200-day simple moving average of $94.90.

Turning Point Brands (NYSE:TPB) last released its quarterly 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 firm 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 business’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.68 EPS. Equities research analysts anticipate that Turning Point Brands will post 2.59 earnings per share for the current fiscal year.

Turning Point Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 9th. Stockholders of record on Friday, December 19th were given a dividend of $0.075 per share. 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 dividend payout ratio (DPR) is 10.56%.

Insider Activity at Turning Point Brands

In other news, Director Gregory H.A. Baxter sold 1,500 shares of the company’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $98.23, for a total transaction of $147,345.00. Following the transaction, the director directly owned 38,919 shares of the company’s stock, valued at $3,823,013.37. This represents a 3.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman David Edward Glazek sold 30,000 shares of Turning Point Brands stock in a transaction on Friday, December 19th. The stock was sold at an average price of $110.26, for a total value of $3,307,800.00. Following the transaction, the chairman directly owned 127,083 shares of the company’s stock, valued at approximately $14,012,171.58. This represents a 19.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 96,220 shares of company stock worth $9,958,542 in the last ninety days. Company insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On Turning Point Brands

Several hedge funds have recently modified their holdings of TPB. Divisadero Street Capital Management LP grew its holdings in shares of Turning Point Brands by 3.2% during the 3rd quarter. Divisadero Street Capital Management LP now owns 974,066 shares of the company’s stock worth $96,296,000 after purchasing an additional 30,282 shares during the period. Thrivent Financial for Lutherans lifted its holdings in Turning Point Brands by 11.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 808,613 shares of the company’s stock worth $79,940,000 after buying an additional 85,716 shares in the last quarter. ArrowMark Colorado Holdings LLC increased its position in shares of Turning Point Brands by 24.9% during the third quarter. ArrowMark Colorado Holdings LLC now owns 674,809 shares of the company’s stock worth $66,712,000 after acquiring an additional 134,401 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Turning Point Brands by 1.4% during the 2nd quarter. Geode Capital Management LLC now owns 509,743 shares of the company’s stock valued at $38,629,000 after buying an additional 7,104 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in Turning Point Brands by 33.8% in the third quarter. Arrowstreet Capital Limited Partnership now owns 441,772 shares of the company’s stock valued at $43,674,000 after acquiring an additional 111,590 shares in the last quarter. 96.12% of the stock is owned by institutional investors and hedge funds.

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.