Shares of Turning Point Brands Inc (NYSE:TPB) have been assigned a consensus broker rating score of 1.00 (Strong Buy) from the two brokers that cover the stock, Zacks Investment Research reports. Two research analysts have rated the stock with a strong buy recommendation.
Brokerages have set a 12-month consensus price objective of $22.50 for the company and are expecting that the company will post $0.33 EPS for the current quarter, according to Zacks. Zacks has also given Turning Point Brands an industry rank of 100 out of 265 based on the ratings given to related companies.
TPB has been the subject of several recent analyst reports. B. Riley reiterated a “buy” rating and set a $20.00 price objective on shares of Turning Point Brands in a research note on Friday, November 10th. Zacks Investment Research upgraded Turning Point Brands from a “strong sell” rating to a “hold” rating and set a $24.00 price objective for the company in a research note on Thursday, January 11th.
Turning Point Brands (NYSE:TPB) traded down $0.24 during trading on Friday, reaching $21.17. The company’s stock had a trading volume of 6,175 shares, compared to its average volume of 71,580. The company has a quick ratio of 0.37, a current ratio of 1.81 and a debt-to-equity ratio of 3.77. Turning Point Brands has a 1 year low of $12.92 and a 1 year high of $22.99. The firm has a market capitalization of $411.28, a price-to-earnings ratio of 12.36 and a beta of -0.12.
In other news, insider James Wells Dobbins sold 10,000 shares of the stock in a transaction on Monday, January 8th. The stock was sold at an average price of $20.94, for a total transaction of $209,400.00. Following the sale, the insider now owns 94,041 shares in the company, valued at $1,969,218.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder General L.P. Standard bought 150,000 shares of the firm’s stock in a transaction dated Wednesday, January 3rd. The shares were acquired at an average price of $20.80 per share, for a total transaction of $3,120,000.00. Following the acquisition, the insider now directly owns 2,500 shares of the company’s stock, valued at approximately $52,000. The disclosure for this purchase can be found here. 14.20% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the stock. Millennium Management LLC boosted its holdings in Turning Point Brands by 68.3% in the fourth quarter. Millennium Management LLC now owns 42,500 shares of the company’s stock valued at $898,000 after acquiring an additional 17,252 shares during the last quarter. Brigade Capital Management LP boosted its holdings in Turning Point Brands by 10.5% in the fourth quarter. Brigade Capital Management LP now owns 321,573 shares of the company’s stock valued at $6,795,000 after acquiring an additional 30,527 shares during the last quarter. Deutsche Bank AG boosted its holdings in Turning Point Brands by 82.5% in the fourth quarter. Deutsche Bank AG now owns 73,862 shares of the company’s stock valued at $1,560,000 after acquiring an additional 33,398 shares during the last quarter. Brandywine Global Investment Management LLC bought a new position in Turning Point Brands in the fourth quarter valued at about $381,000. Finally, Renaissance Technologies LLC boosted its holdings in Turning Point Brands by 131.3% in the fourth quarter. Renaissance Technologies LLC now owns 182,300 shares of the company’s stock valued at $3,852,000 after acquiring an additional 103,500 shares during the last quarter. Institutional investors and hedge funds own 16.01% of the company’s stock.
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Turning Point Brands Company Profile
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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