Turning Point Brands (NYSE:TPB) Shares Up 5.5% – Here’s Why

Turning Point Brands, Inc. (NYSE:TPB) traded up 5.5% on Tuesday . The stock traded as high as $79.74 and last traded at $79.6250. 171,543 shares were traded during trading, a decline of 61% from the average daily volume of 437,749 shares. The stock had previously closed at $75.45.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on TPB shares. Wall Street Zen raised Turning Point Brands from a “strong sell” rating to a “sell” rating in a report on Saturday, June 6th. Needham & Company LLC raised Turning Point Brands from a “hold” rating to a “buy” rating and set a $125.00 target price for the company in a research report on Friday, May 8th. Zacks Research downgraded Turning Point Brands from a “hold” rating to a “strong sell” rating in a report on Monday, March 2nd. Finally, Weiss Ratings lowered shares of Turning Point Brands from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, June 2nd. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $118.75.

Turning Point Brands Stock Up 4.9%

The company has a debt-to-equity ratio of 0.76, a current ratio of 5.87 and a quick ratio of 4.05. The firm has a market capitalization of $1.63 billion, a P/E ratio of 28.62 and a beta of 0.92. The business has a 50 day moving average price of $83.98 and a 200 day moving average price of $99.04.

Turning Point Brands (NYSE:TPB) last announced its earnings results on Thursday, May 7th. The company reported $0.76 earnings per share 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 the consensus estimate of $115.67 million. Turning Point Brands had a return on equity of 16.54% and a net margin of 11.53%.The firm’s revenue for the quarter was up 16.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.91 EPS. On average, analysts predict that Turning Point Brands, Inc. will post 1.43 earnings per share for the current year.

Turning Point Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Friday, June 19th will be issued a dividend of $0.08 per share. The ex-dividend date is Thursday, June 18th. This represents a $0.32 annualized dividend and a dividend yield of 0.4%. Turning Point Brands’s payout ratio is presently 10.88%.

Insider Buying and Selling at Turning Point Brands

In related news, CAO Brian Wigginton sold 4,000 shares of the stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $91.67, for a total value of $366,680.00. Following the completion of the sale, the chief accounting officer owned 9,230 shares in the company, valued at approximately $846,114.10. This trade represents a 30.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 5.40% of the company’s stock.

Hedge Funds Weigh In On Turning Point Brands

Several large investors have recently added to or reduced their stakes in the company. Kemnay Advisory Services Inc. acquired a new position in shares of Turning Point Brands in the fourth quarter valued at $27,000. Empowered Funds LLC acquired a new stake in shares of Turning Point Brands during the 4th quarter valued at about $27,000. Caitong International Asset Management Co. Ltd bought a new stake in Turning Point Brands in the third quarter valued at about $28,000. Advisory Services Network LLC acquired a new position in Turning Point Brands in the third quarter worth about $28,000. Finally, Huntington National Bank raised its position in Turning Point Brands by 54.9% in the third quarter. Huntington National Bank now owns 457 shares of the company’s stock worth $45,000 after purchasing an additional 162 shares in the last quarter. Institutional investors and hedge funds own 96.12% of the company’s stock.

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.