Turning Point Brands Inc (NYSE:TPB) has been given 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 recommendation.
Analysts have set a 1 year consensus target price of $20.00 for the company and are predicting that the company will post $0.33 EPS for the current quarter, according to Zacks. Zacks has also assigned Turning Point Brands an industry rank of 239 out of 265 based on the ratings given to related companies.
Several research firms have recently commented on TPB. Zacks Investment Research cut shares of Turning Point Brands from a “hold” rating to a “sell” rating in a research note on Tuesday, November 14th. B. Riley restated a “buy” rating and issued a $20.00 target price on shares of Turning Point Brands in a research note on Friday, November 10th. FBR & Co restated a “buy” rating and issued a $17.00 target price on shares of Turning Point Brands in a research note on Monday, October 2nd. Finally, Cowen restated a “buy” rating and issued a $20.00 target price on shares of Turning Point Brands in a research note on Sunday, September 17th.
Turning Point Brands (NYSE TPB) opened at $20.47 on Friday. Turning Point Brands has a 52-week low of $12.31 and a 52-week high of $21.59. The company has a debt-to-equity ratio of 3.77, a quick ratio of 0.37 and a current ratio of 1.81. The stock has a market cap of $393.22 and a price-to-earnings ratio of 12.33.
Turning Point Brands (NYSE:TPB) last issued its quarterly earnings data on Thursday, November 9th. The company reported $0.38 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.06). Turning Point Brands had a return on equity of 93.53% and a net margin of 12.70%. The business had revenue of $73.30 million for the quarter, compared to analysts’ expectations of $71.15 million. During the same period in the previous year, the business posted $0.34 earnings per share. The company’s revenue for the quarter was up 43.9% on a year-over-year basis. equities analysts anticipate that Turning Point Brands will post 1.15 earnings per share for the current fiscal year.
The business also recently disclosed an annual dividend, which was paid on Friday, December 15th. Investors of record on Monday, November 27th were paid a $0.04 dividend. The ex-dividend date was Friday, November 24th. Turning Point Brands’s dividend payout ratio (DPR) is 2.41%.
In related news, Director H.C. Charles Diao acquired 7,697 shares of Turning Point Brands stock in a transaction that occurred on Monday, November 13th. The stock was purchased at an average price of $15.91 per share, for a total transaction of $122,459.27. Following the completion of the purchase, the director now directly owns 11,000 shares of the company’s stock, valued at $175,010. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 14.20% of the stock is owned by company insiders.
A number of large investors have recently bought and sold shares of TPB. Wells Fargo & Company MN increased its holdings in Turning Point Brands by 30.5% during the 2nd quarter. Wells Fargo & Company MN now owns 62,412 shares of the company’s stock valued at $957,000 after acquiring an additional 14,584 shares in the last quarter. Martingale Asset Management L P purchased a new position in Turning Point Brands during the 2nd quarter valued at about $280,000. AJO LP purchased a new position in Turning Point Brands during the 2nd quarter valued at about $520,000. Teachers Advisors LLC increased its holdings in Turning Point Brands by 25.6% during the 2nd quarter. Teachers Advisors LLC now owns 10,249 shares of the company’s stock valued at $157,000 after acquiring an additional 2,087 shares in the last quarter. Finally, D.A. Davidson & CO. purchased a new position in Turning Point Brands during the 2nd quarter valued at about $413,000. Hedge funds and other institutional investors own 17.62% of the company’s stock.
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About Turning Point Brands
Turning Point Brands, Inc is an independent provider of Other Tobacco Products (OTP) 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 chewing tobacco products.
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