Turning Point Brands (NYSE:TPB) Hits New 52-Week High – Still a Buy?

Shares of Turning Point Brands, Inc. (NYSE:TPB) hit a new 52-week high during trading on Tuesday . The company traded as high as $137.99 and last traded at $135.9910, with a volume of 223777 shares trading hands. The stock had previously closed at $135.52.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on TPB shares. iA Financial set a $110.00 target price on shares of Turning Point Brands in a report on Wednesday, November 5th. Zacks Research downgraded Turning Point Brands from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Wall Street Zen lowered Turning Point Brands from a “buy” rating to a “hold” rating in a research note on Saturday, January 17th. Oppenheimer reiterated an “outperform” rating and set a $130.00 target price on shares of Turning Point Brands in a research note on Wednesday, January 14th. Finally, Alliance Global Partners increased their price target on Turning Point Brands from $103.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Turning Point Brands presently has an average rating of “Moderate Buy” and an average price target of $116.67.

Turning Point Brands Trading Up 0.3%

The business has a fifty day moving average price of $117.83 and a 200-day moving average price of $104.49. The company has a quick ratio of 3.98, a current ratio of 5.56 and a debt-to-equity ratio of 0.82. The company has a market cap of $2.59 billion, a P/E ratio of 47.88 and a beta of 0.87.

Insider Transactions at Turning Point Brands

In other Turning Point Brands news, Director H.C. Charles Diao sold 2,000 shares of the business’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $108.20, for a total value of $216,400.00. Following the completion of the sale, the director owned 9,804 shares of the company’s stock, valued at $1,060,792.80. The trade was a 16.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman David Edward Glazek sold 30,000 shares of the stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $110.26, for a total transaction of $3,307,800.00. Following the transaction, the chairman owned 127,083 shares in the company, valued at approximately $14,012,171.58. The trade was a 19.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On Turning Point Brands

Several institutional investors have recently made changes to their positions in the stock. Universal Beteiligungs und Servicegesellschaft mbH lifted its position in shares of Turning Point Brands by 72.1% during the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 58,377 shares of the company’s stock worth $5,771,000 after buying an additional 24,460 shares during the last quarter. GatePass Capital LLC acquired a new stake in shares of Turning Point Brands in the 3rd quarter valued at approximately $1,119,000. Vest Financial LLC acquired a new stake in shares of Turning Point Brands in the 3rd quarter valued at approximately $1,419,000. 4D Advisors LLC grew its holdings in shares of Turning Point Brands by 133.7% during the 2nd quarter. 4D Advisors LLC now owns 222,000 shares of the company’s stock valued at $16,821,000 after purchasing an additional 127,000 shares during the last quarter. Finally, AWH Capital L.P. bought a new position in Turning Point Brands in the 2nd quarter valued at approximately $3,410,000. 96.12% of the stock is currently owned by institutional investors.

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.