Shares of Turning Point Brands Inc (NYSE:TPB) have earned an average broker rating score of 1.00 (Strong Buy) from the three analysts that cover the company, Zacks Investment Research reports. Three analysts have rated the stock with a strong buy recommendation.
Analysts have set a one year consensus target price of $57.67 for the company and are anticipating that the company will post $0.55 EPS for the current quarter, according to Zacks. Zacks has also assigned Turning Point Brands an industry rank of 28 out of 256 based on the ratings given to its competitors.
Several analysts have issued reports on TPB shares. TheStreet upgraded Turning Point Brands from a “c-” rating to a “b-” rating in a report on Friday, May 10th. ValuEngine cut Turning Point Brands from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Zacks Investment Research upgraded Turning Point Brands from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a report on Tuesday, July 30th.
NYSE TPB traded up $0.01 during mid-day trading on Friday, hitting $36.69. The stock had a trading volume of 208,700 shares, compared to its average volume of 407,627. The firm’s 50 day moving average is $45.81 and its 200 day moving average is $45.59. Turning Point Brands has a twelve month low of $26.39 and a twelve month high of $57.06. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.78 and a quick ratio of 0.39. The stock has a market capitalization of $720.87 million, a price-to-earnings ratio of 21.46 and a beta of 0.64.
Turning Point Brands (NYSE:TPB) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.53 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.01. Turning Point Brands had a return on equity of 42.97% and a net margin of 9.02%. The firm had revenue of $93.30 million during the quarter, compared to the consensus estimate of $93.30 million. During the same period in the prior year, the company earned $0.50 EPS. The firm’s revenue was up 15.0% compared to the same quarter last year. As a group, equities research analysts expect that Turning Point Brands will post 1.98 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 20th will be issued a $0.045 dividend. This represents a $0.18 annualized dividend and a yield of 0.49%. The ex-dividend date is Thursday, September 19th. Turning Point Brands’s payout ratio is currently 10.53%.
In related news, Director H.C. Charles Diao bought 2,000 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was bought at an average cost of $50.54 per share, for a total transaction of $101,080.00. Following the acquisition, the director now directly owns 12,000 shares in the company, valued at $606,480. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Robert M. Lavan bought 2,500 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was bought at an average price of $37.03 per share, with a total value of $92,575.00. Following the completion of the acquisition, the chief financial officer now owns 6,000 shares in the company, valued at $222,180. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 7,500 shares of company stock valued at $305,505. 5.50% of the stock is owned by company insiders.
Large investors have recently modified their holdings of the business. Bank of Montreal Can grew its holdings in shares of Turning Point Brands by 68,100.0% during the 2nd quarter. Bank of Montreal Can now owns 682 shares of the company’s stock worth $33,000 after purchasing an additional 681 shares during the period. Point72 Hong Kong Ltd purchased a new position in shares of Turning Point Brands during the 2nd quarter worth $38,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Turning Point Brands during the 2nd quarter worth $55,000. Metropolitan Life Insurance Co. NY grew its holdings in shares of Turning Point Brands by 356.4% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 2,825 shares of the company’s stock worth $77,000 after purchasing an additional 2,206 shares during the period. Finally, Ibex Investors LLC purchased a new position in shares of Turning Point Brands during the 2nd quarter worth $229,000. Institutional investors own 30.73% of the company’s stock.
About Turning Point Brands
Turning Point Brands, Inc, together with its subsidiaries, provides other tobacco products 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 loose leaf chewing tobacco products.
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