Turning Point Brands Inc (NYSE:TPB) Given $57.50 Consensus Target Price by Brokerages

Turning Point Brands Inc (NYSE:TPB) has been assigned an average broker rating score of 1.00 (Strong Buy) from the two brokers that cover the company, Zacks Investment Research reports. Two analysts have rated the stock with a strong buy rating.

Brokerages have set a 12-month consensus target price of $57.50 for the company and are anticipating that the company will post $0.47 EPS for the current quarter, according to Zacks. Zacks has also given Turning Point Brands an industry rank of 107 out of 256 based on the ratings given to its competitors.

Several analysts have recently weighed in on TPB shares. B. Riley lifted their price target on shares of Turning Point Brands from $45.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th. Zacks Investment Research downgraded shares of Turning Point Brands from a “hold” rating to a “strong sell” rating in a research note on Friday, March 15th. Finally, TheStreet raised shares of Turning Point Brands from a “c-” rating to a “b-” rating in a research note on Friday, May 10th.

NYSE TPB traded up $1.72 during trading on Wednesday, hitting $53.74. The stock had a trading volume of 11,200 shares, compared to its average volume of 131,874. The company has a debt-to-equity ratio of 2.14, a current ratio of 1.77 and a quick ratio of 0.29. The stock has a market cap of $1.01 billion, a PE ratio of 31.28 and a beta of 0.67. Turning Point Brands has a one year low of $26.39 and a one year high of $55.53. The firm’s 50 day moving average price is $50.43.

Turning Point Brands (NYSE:TPB) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.43 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.07. The business had revenue of $91.60 million during the quarter, compared to the consensus estimate of $89.00 million. Turning Point Brands had a net margin of 8.22% and a return on equity of 47.17%. The firm’s quarterly revenue was up 24.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.35 earnings per share. On average, sell-side analysts expect that Turning Point Brands will post 1.97 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 21st will be paid a dividend of $0.045 per share. This represents a $0.18 annualized dividend and a dividend yield of 0.33%. The ex-dividend date is Thursday, June 20th. Turning Point Brands’s dividend payout ratio is presently 10.53%.

In other Turning Point Brands news, Director H.C. Charles Diao acquired 2,000 shares of Turning Point Brands stock in a transaction that occurred on Tuesday, May 21st. The stock was bought at an average price of $50.54 per share, with a total value of $101,080.00. Following the completion of the purchase, the director now directly owns 12,000 shares of the company’s stock, valued at approximately $606,480. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 5.50% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. Resources Investment Advisors Inc. purchased a new position in Turning Point Brands in the fourth quarter worth $27,000. Great West Life Assurance Co. Can grew its holdings in shares of Turning Point Brands by 960.1% during the fourth quarter. Great West Life Assurance Co. Can now owns 1,993 shares of the company’s stock valued at $52,000 after buying an additional 1,805 shares during the last quarter. Metropolitan Life Insurance Co. NY grew its holdings in shares of Turning Point Brands by 356.4% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 2,825 shares of the company’s stock valued at $77,000 after buying an additional 2,206 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of Turning Point Brands by 47.8% during the fourth quarter. Rhumbline Advisers now owns 10,135 shares of the company’s stock valued at $276,000 after buying an additional 3,277 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of Turning Point Brands by 4.0% during the fourth quarter. Victory Capital Management Inc. now owns 10,246 shares of the company’s stock valued at $279,000 after buying an additional 398 shares during the last quarter. 31.10% of the stock is owned by institutional investors.

Turning Point Brands Company Profile

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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