Zacks: Turning Point Brands Inc (TPB) Receives Average Recommendation of “Strong Buy” from Brokerages

Turning Point Brands Inc (NYSE:TPB) has been given a consensus broker rating score of 1.00 (Strong Buy) from the two brokers that provide coverage for the company, Zacks Investment Research reports. Two research analysts have rated the stock with a strong buy recommendation.

Analysts have set a one year consensus price target of $45.00 for the company and are forecasting that the company will post $0.55 EPS for the current quarter, according to Zacks. Zacks has also given Turning Point Brands an industry rank of 193 out of 255 based on the ratings given to its competitors.

A number of equities analysts recently commented on the company. B. Riley lifted their price objective on Turning Point Brands from $35.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday. Cowen reaffirmed a “buy” rating on shares of Turning Point Brands in a research note on Friday, August 10th.

In other Turning Point Brands news, Director Thomas F. Jr. Helms sold 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $32.18, for a total value of $241,350.00. Following the transaction, the director now directly owns 1,650 shares of the company’s stock, valued at $53,097. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Thomas F. Jr. Helms sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $31.82, for a total value of $636,400.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 62,547 shares of company stock worth $2,293,515. Insiders own 6.90% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of TPB. BlackRock Inc. grew its holdings in Turning Point Brands by 53.2% during the second quarter. BlackRock Inc. now owns 380,487 shares of the company’s stock worth $12,136,000 after buying an additional 132,151 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Turning Point Brands by 36.5% during the second quarter. Renaissance Technologies LLC now owns 336,762 shares of the company’s stock worth $10,743,000 after buying an additional 90,062 shares in the last quarter. ETF Managers Group LLC grew its holdings in Turning Point Brands by 127.9% during the first quarter. ETF Managers Group LLC now owns 224,595 shares of the company’s stock worth $4,326,000 after buying an additional 126,030 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Turning Point Brands by 101.5% during the second quarter. Dimensional Fund Advisors LP now owns 163,140 shares of the company’s stock worth $5,204,000 after buying an additional 82,182 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Turning Point Brands by 6.4% during the second quarter. Bank of New York Mellon Corp now owns 104,739 shares of the company’s stock worth $3,341,000 after buying an additional 6,306 shares in the last quarter. 27.11% of the stock is currently owned by hedge funds and other institutional investors.

Shares of TPB stock opened at $43.90 on Friday. Turning Point Brands has a 12 month low of $15.34 and a 12 month high of $44.45. The stock has a market cap of $800.75 million, a PE ratio of 40.65 and a beta of 0.61. The company has a current ratio of 2.03, a quick ratio of 0.55 and a debt-to-equity ratio of 2.86.

Turning Point Brands (NYSE:TPB) last announced its quarterly earnings results on Wednesday, August 8th. The company reported $0.50 EPS for the quarter, beating the Zacks’ 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 for the quarter, compared to analyst estimates of $82.40 million. During the same period last year, the firm posted $0.38 earnings per share. The business’s revenue for the quarter was up 12.5% on a year-over-year basis. Equities analysts predict that Turning Point Brands will post 1.73 EPS for the current year.

The business 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 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date is Thursday, September 20th. Turning Point Brands’s dividend payout ratio is currently 14.81%.

About Turning Point Brands

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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