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

Shares of Turning Point Brands, Inc. (NYSE:TPB) have been assigned an average rating of “Hold” from the five research firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $118.75.

TPB has been the topic of several recent research reports. Wall Street Zen raised shares of Turning Point Brands from a “strong sell” rating to a “sell” rating in a report on Saturday, June 6th. Needham & Company LLC upgraded shares of Turning Point Brands from a “hold” rating to a “buy” rating and set a $125.00 target price for the company in a research note on Friday, May 8th. 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.

Insider Transactions at Turning Point Brands

In other Turning Point Brands news, CAO Brian Wigginton sold 4,000 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $91.67, for a total transaction of $366,680.00. Following the sale, the chief accounting officer owned 9,230 shares of the company’s stock, valued at $846,114.10. The trade was a 30.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 5.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Turning Point Brands

Several hedge funds and other institutional investors have recently modified their holdings of TPB. Kemnay Advisory Services Inc. bought a new position in shares of Turning Point Brands in the fourth quarter valued at approximately $27,000. Empowered Funds LLC bought a new position in Turning Point Brands in the 4th quarter valued at $27,000. Caitong International Asset Management Co. Ltd bought a new position in Turning Point Brands in the 3rd quarter valued at $28,000. Advisory Services Network LLC purchased a new position in shares of Turning Point Brands during the 3rd quarter valued at $28,000. Finally, Huntington National Bank grew its position in shares of Turning Point Brands by 54.9% during the 3rd quarter. Huntington National Bank now owns 457 shares of the company’s stock valued at $45,000 after purchasing an additional 162 shares in the last quarter. 96.12% of the stock is currently owned by institutional investors.

Turning Point Brands Price Performance

Turning Point Brands stock opened at $87.58 on Friday. The business’s 50 day simple moving average is $85.34 and its 200 day simple moving average is $97.82. Turning Point Brands has a 12 month low of $65.80 and a 12 month high of $146.90. The company has a market cap of $1.70 billion, a price-to-earnings ratio of 29.79 and a beta of 0.92. The company has a current ratio of 5.87, a quick ratio of 4.05 and a debt-to-equity ratio of 0.76.

Turning Point Brands (NYSE:TPB) last released its earnings results on Thursday, May 7th. The company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.08. Turning Point Brands had a return on equity of 16.54% and a net margin of 11.53%.The business had revenue of $124.28 million during the quarter, compared to the consensus estimate of $115.67 million. During the same period last year, the business posted $0.91 earnings per share. The business’s revenue for the quarter was up 16.8% on a year-over-year basis. Sell-side analysts forecast that Turning Point Brands will post 1.39 EPS for the current year.

Turning Point Brands Announces Dividend

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

About Turning Point Brands

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.