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

Shares of Turning Point Brands, Inc. (NYSE:TPB) have been given an average rating of “Moderate Buy” by the six analysts that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $109.00.

TPB has been the subject of a number of research reports. Oppenheimer reduced their price objective on 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. Compass Point set a $116.00 target price on Turning Point Brands in a research note on Monday, August 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Turning Point Brands in a research report on Friday, August 28th. BTIG Research reaffirmed a “buy” rating on shares of Turning Point Brands in a research note on Monday, August 10th. Finally, Wall Street Zen raised Turning Point Brands from a “strong sell” rating to a “sell” rating in a research note on Monday, August 10th.

Hedge Funds Weigh In On Turning Point Brands

Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of Turning Point Brands in the second quarter worth about $137,273,000. Bank of America Corp DE bought a new stake in shares of Turning Point Brands during the 2nd quarter worth about $47,278,000. Maple Rock Capital Partners Inc. boosted its stake in shares of Turning Point Brands by 57.5% during the 2nd quarter. Maple Rock Capital Partners Inc. now owns 686,800 shares of the company’s stock worth $58,248,000 after acquiring an additional 250,800 shares in the last quarter. Madison Avenue Partners LP acquired a new position in shares of Turning Point Brands during the 4th quarter valued at about $26,853,000. Finally, Copeland Capital Management LLC increased its holdings in shares of Turning Point Brands by 99.4% during the 1st quarter. Copeland Capital Management LLC now owns 407,208 shares of the company’s stock valued at $35,342,000 after acquiring an additional 203,020 shares during the last quarter. Institutional investors and hedge funds own 96.12% of the company’s stock.

Turning Point Brands Trading Down 1.5%

Shares of NYSE:TPB opened at $55.39 on Friday. The firm has a fifty day moving average of $72.95 and a two-hundred day moving average of $79.28. The firm has a market capitalization of $1.07 billion, a P/E ratio of 24.13 and a beta of 0.97. Turning Point Brands has a 12-month low of $54.69 and a 12-month high of $146.90. The company has a quick ratio of 4.16, a current ratio of 5.67 and a debt-to-equity ratio of 0.65.

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

Turning Point Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 9th. Investors of record on Friday, September 18th were paid a $0.08 dividend. The ex-dividend date of this dividend was Friday, September 18th. This represents a $0.32 annualized dividend and a dividend yield of 0.6%. Turning Point Brands’s payout ratio is presently 13.73%.

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.