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

Shares of Turning Point Brands, Inc. (NYSE:TPB) have earned a consensus rating of “Hold” from the five research firms that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $118.75.

Several equities analysts recently commented on TPB shares. Wall Street Zen lowered shares of Turning Point Brands from a “hold” rating to a “strong sell” rating in a research report on Saturday. Weiss Ratings lowered shares of Turning Point Brands from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, May 11th. 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 research report on Friday, May 8th. Finally, Zacks Research lowered shares of Turning Point Brands from a “hold” rating to a “strong sell” rating in a research report on Monday, March 2nd.

Insider Buying and Selling

In other Turning Point Brands news, CFO Andrew Flynn sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $97.57, for a total transaction of $195,140.00. Following the completion of the transaction, the chief financial officer directly owned 9,443 shares of the company’s stock, valued at approximately $921,353.51. This trade represents a 17.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Brian Wigginton sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The stock was 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 $846,114.10. This represents a 30.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 5.40% of the company’s stock.

Hedge Funds Weigh In On Turning Point Brands

A number of institutional investors have recently bought and sold shares of TPB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Turning Point Brands by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,198 shares of the company’s stock worth $606,000 after buying an additional 459 shares during the last quarter. Russell Investments Group Ltd. raised its position in Turning Point Brands by 1,428.7% during the 2nd quarter. Russell Investments Group Ltd. now owns 4,586 shares of the company’s stock worth $347,000 after buying an additional 4,286 shares during the last quarter. First Trust Advisors LP raised its position in Turning Point Brands by 150.8% during the 2nd quarter. First Trust Advisors LP now owns 141,995 shares of the company’s stock worth $10,759,000 after buying an additional 85,378 shares during the last quarter. Baird Financial Group Inc. purchased a new position in Turning Point Brands during the 2nd quarter worth approximately $220,000. Finally, Qube Research & Technologies Ltd raised its position in Turning Point Brands by 21.3% during the 2nd quarter. Qube Research & Technologies Ltd now owns 182,812 shares of the company’s stock worth $13,852,000 after buying an additional 32,109 shares during the last quarter. 96.12% of the stock is owned by hedge funds and other institutional investors.

Turning Point Brands Stock Performance

Shares of Turning Point Brands stock opened at $88.88 on Thursday. The firm has a market capitalization of $1.72 billion, a P/E ratio of 30.23 and a beta of 0.93. The company has a quick ratio of 4.05, a current ratio of 5.87 and a debt-to-equity ratio of 0.76. The company has a 50 day moving average price of $83.89 and a 200 day moving average price of $101.60. Turning Point Brands has a 52 week low of $65.80 and a 52 week high of $146.90.

Turning Point Brands (NYSE:TPB) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.68 by $0.08. The firm had revenue of $124.28 million during 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 revenue was up 16.8% on a year-over-year basis. During the same period last year, the firm posted $0.91 EPS. Sell-side analysts expect that Turning Point Brands will post 2.66 EPS for the current year.

Turning Point Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Friday, June 19th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, June 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 currently 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.