Shares of Turning Point Brands Inc (NYSE:TPB) have received a consensus broker rating score of 1.00 (Strong Buy) from the two brokers that cover the stock, Zacks Investment Research reports. Two analysts have rated the stock with a strong buy rating.
Analysts have set a 1 year consensus price target of $35.00 for the company and are predicting that the company will post $0.63 EPS for the current quarter, according to Zacks. Zacks has also assigned Turning Point Brands an industry rank of 218 out of 255 based on the ratings given to related companies.
Several research firms recently commented on TPB. Cowen reissued a “buy” rating on shares of Turning Point Brands in a research note on Friday. Zacks Investment Research raised Turning Point Brands from a “hold” rating to a “strong-buy” rating and set a $26.00 price objective for the company in a research note on Wednesday, May 16th. Finally, B. Riley set a $30.00 price objective on Turning Point Brands and gave the company a “buy” rating in a research note on Wednesday, May 9th.
NYSE TPB traded up $0.25 during mid-day trading on Tuesday, hitting $33.37. The stock had a trading volume of 214,930 shares, compared to its average volume of 101,311. Turning Point Brands has a twelve month low of $15.34 and a twelve month high of $34.88. The company has a debt-to-equity ratio of 2.86, a quick ratio of 0.61 and a current ratio of 2.03. The company has a market cap of $639.67 million, a P/E ratio of 22.68 and a beta of 0.87.
Turning Point Brands (NYSE:TPB) last posted its quarterly earnings data on Wednesday, August 8th. The company reported $0.50 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.01. Turning Point Brands had a return on equity of 51.44% and a net margin of 7.70%. The firm had revenue of $81.10 million during the quarter, compared to the consensus estimate of $82.40 million. During the same period in the prior year, the company earned $0.38 EPS. The firm’s revenue was up 12.5% compared to the same quarter last year. sell-side analysts predict that Turning Point Brands will post 1.74 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 12th. Investors of record on Friday, September 21st will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend is Thursday, September 20th. Turning Point Brands’s dividend payout ratio is currently 14.81%.
In other Turning Point Brands news, insider James Wells Dobbins sold 5,000 shares of the company’s stock in a transaction on Wednesday, May 23rd. The stock was sold at an average price of $25.00, for a total value of $125,000.00. Following the completion of the sale, the insider now directly owns 89,041 shares in the company, valued at approximately $2,226,025. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder General L.P. Standard bought 50,000 shares of the company’s stock in a transaction on Friday, June 8th. The stock was bought at an average price of $28.16 per share, with a total value of $1,408,000.00. The disclosure for this purchase can be found here. 6.90% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of TPB. Thompson Siegel & Walmsley LLC purchased a new stake in Turning Point Brands in the 1st quarter valued at $4,243,000. BlackRock Inc. grew its holdings in Turning Point Brands by 53.2% in the 2nd quarter. BlackRock Inc. now owns 380,487 shares of the company’s stock valued at $12,136,000 after buying an additional 132,151 shares in the last quarter. ETF Managers Group LLC grew its holdings in Turning Point Brands by 127.9% in the 1st quarter. ETF Managers Group LLC now owns 224,595 shares of the company’s stock valued at $4,326,000 after buying an additional 126,030 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Turning Point Brands by 131.3% in the 4th quarter. Renaissance Technologies LLC now owns 182,300 shares of the company’s stock valued at $3,852,000 after buying an additional 103,500 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Turning Point Brands by 101.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 163,140 shares of the company’s stock valued at $5,204,000 after buying an additional 82,182 shares in the last quarter. Institutional investors own 20.22% of the company’s stock.
Turning Point Brands Company Profile
Turning Point Brands, Inc, together with its subsidiaries, provides other tobacco products primarily in the United States. It operates through three segments: Smokeless Products, Smoking Products, and NewGen Products. The Smokeless Products segment manufactures and markets moist snuff; and contracts for and markets loose leaf chewing tobacco products.
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