Turning Point Brands, Inc. (NYSE:TPB) Receives $115.67 Average Target Price from Analysts

Shares of Turning Point Brands, Inc. (NYSE:TPB) have received an average rating of “Moderate Buy” from the six analysts that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $115.6667.

A number of equities analysts recently issued reports on the company. Weiss Ratings downgraded Turning Point Brands from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, June 2nd. Needham & Company LLC upgraded shares of Turning Point Brands from a “hold” rating to a “buy” rating and set a $125.00 price target on the stock in a research note on Friday, May 8th. Compass Point set a $116.00 price objective on shares of Turning Point Brands in a report on Monday, August 10th. Wall Street Zen upgraded shares of Turning Point Brands from a “strong sell” rating to a “sell” rating in a research report on Monday, August 10th. Finally, BTIG Research restated a “buy” rating on shares of Turning Point Brands in a report on Monday, August 10th.

Turning Point Brands Stock Performance

NYSE:TPB opened at $83.33 on Friday. Turning Point Brands has a 12 month low of $65.80 and a 12 month high of $146.90. The company has a debt-to-equity ratio of 0.65, a current ratio of 5.67 and a quick ratio of 4.16. The firm has a market capitalization of $1.61 billion, a PE ratio of 35.76 and a beta of 0.92. The business’s fifty day moving average price is $83.09 and its 200 day moving average price is $90.55.

Turning Point Brands (NYSE:TPB) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.11. Turning Point Brands had a return on equity of 11.35% and a net margin of 8.78%.The company had revenue of $142.96 million during the quarter, compared to the consensus estimate of $129.56 million. During the same period in the previous year, the business earned $0.98 EPS. Turning Point Brands’s revenue for the quarter was up 22.6% on a year-over-year basis. On average, sell-side analysts anticipate that Turning Point Brands will post 1.23 earnings per share for the current fiscal year.

Turning Point Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 18th will be given a $0.08 dividend. The ex-dividend date of this dividend is Friday, September 18th. This represents a $0.32 dividend on an annualized basis and a yield of 0.4%. Turning Point Brands’s payout ratio is 13.73%.

Hedge Funds Weigh In On Turning Point Brands

Several large investors have recently bought and sold shares of TPB. Operose Advisors LLC acquired a new stake in shares of Turning Point Brands during the second quarter worth about $42,000. Maple Rock Capital Partners Inc. lifted its holdings in shares of Turning Point Brands by 57.5% in the 2nd quarter. Maple Rock Capital Partners Inc. now owns 686,800 shares of the company’s stock valued at $58,248,000 after purchasing an additional 250,800 shares during the last quarter. AWH Capital L.P. acquired a new stake in shares of Turning Point Brands in the 2nd quarter valued at about $6,526,130,000. Bank of America Corp DE acquired a new stake in shares of Turning Point Brands in the 2nd quarter valued at about $47,278,000. Finally, Freestone Grove Partners LP purchased a new position in Turning Point Brands during the 2nd quarter worth approximately $303,000. 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.