Shares of Turning Point Brands Inc (NYSE:TPB) have been given an average broker rating score of 1.00 (Strong Buy) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. Two investment analysts have rated the stock with a strong buy rating.
Brokers have set a 1 year consensus price objective of $22.50 for the company and are expecting that the company will post $0.33 EPS for the current quarter, according to Zacks. Zacks has also assigned Turning Point Brands an industry rank of 117 out of 265 based on the ratings given to related companies.
Several brokerages have commented on TPB. B. Riley restated a “buy” rating and issued a $20.00 target price on shares of Turning Point Brands in a research note on Friday, November 10th. Zacks Investment Research downgraded Turning Point Brands from a “hold” rating to a “sell” rating in a research note on Tuesday, November 14th. Finally, FBR & Co restated a “buy” rating and issued a $17.00 target price on shares of Turning Point Brands in a research note on Monday, October 2nd.
Turning Point Brands (NYSE:TPB) last posted its quarterly earnings results on Thursday, November 9th. The company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.06). The firm had revenue of $73.30 million for the quarter, compared to the consensus estimate of $71.15 million. Turning Point Brands had a return on equity of 93.53% and a net margin of 12.70%. The firm’s revenue was up 43.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.34 EPS. analysts predict that Turning Point Brands will post 1.15 EPS for the current fiscal year.
In other Turning Point Brands news, major shareholder General L.P. Standard purchased 150,000 shares of the stock in a transaction on Wednesday, January 3rd. The shares were purchased at an average price of $20.80 per share, with a total value of $3,120,000.00. Following the acquisition, the insider now directly owns 2,500 shares in the company, valued at approximately $52,000. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director H.C. Charles Diao purchased 7,697 shares of the stock in a transaction on Monday, November 13th. The stock was acquired at an average cost of $15.91 per share, for a total transaction of $122,459.27. Following the acquisition, the director now owns 11,000 shares in the company, valued at $175,010. The disclosure for this purchase can be found here. 14.20% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the business. Northern Right Capital Management L.P. raised its holdings in shares of Turning Point Brands by 13.3% during the 2nd quarter. Northern Right Capital Management L.P. now owns 365,308 shares of the company’s stock valued at $5,604,000 after buying an additional 42,800 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Turning Point Brands by 1.1% during the 2nd quarter. Vanguard Group Inc. now owns 255,127 shares of the company’s stock valued at $3,914,000 after buying an additional 2,834 shares in the last quarter. Argent Capital Management LLC raised its holdings in shares of Turning Point Brands by 8.7% during the 3rd quarter. Argent Capital Management LLC now owns 180,929 shares of the company’s stock valued at $3,076,000 after buying an additional 14,555 shares in the last quarter. State Street Corp raised its holdings in shares of Turning Point Brands by 5.8% during the 2nd quarter. State Street Corp now owns 84,823 shares of the company’s stock valued at $1,301,000 after buying an additional 4,663 shares in the last quarter. Finally, Wells Fargo & Company MN raised its holdings in shares of Turning Point Brands by 30.2% during the 3rd quarter. Wells Fargo & Company MN now owns 81,278 shares of the company’s stock valued at $1,383,000 after buying an additional 18,866 shares in the last quarter. 17.62% of the stock is currently owned by hedge funds and other institutional investors.
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About Turning Point Brands
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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