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 investment analysts have rated the stock with a strong buy rating.
Brokerages have set a twelve-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 225 out of 256 based on the ratings given to its competitors.
TPB has been the topic of a number of analyst reports. Zacks Investment Research lowered Turning Point Brands from a “buy” rating to a “hold” rating in a research report on Saturday, March 9th. B. Riley upped their price target on Turning Point Brands from $45.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, March 13th. Finally, TheStreet upgraded Turning Point Brands from a “c-” rating to a “b-” rating in a research report on Friday, May 10th.
In related news, Director H.C. Charles Diao purchased 2,000 shares of Turning Point Brands stock in a transaction on Tuesday, May 21st. The shares were purchased at an average price of $50.54 per share, for a total transaction of $101,080.00. Following the transaction, the director now owns 12,000 shares of the company’s stock, valued at approximately $606,480. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 5.50% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. Dynamic Technology Lab Private Ltd bought a new stake in shares of Turning Point Brands during the 1st quarter valued at about $593,000. Wedge Capital Management L L P NC boosted its position in shares of Turning Point Brands by 18.3% during the 1st quarter. Wedge Capital Management L L P NC now owns 35,600 shares of the company’s stock valued at $1,641,000 after purchasing an additional 5,502 shares in the last quarter. Rhumbline Advisers boosted its position in shares of Turning Point Brands by 6.3% during the 1st quarter. Rhumbline Advisers now owns 10,770 shares of the company’s stock valued at $496,000 after purchasing an additional 635 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of Turning Point Brands by 8.5% during the 1st quarter. SG Americas Securities LLC now owns 34,812 shares of the company’s stock valued at $1,604,000 after purchasing an additional 2,735 shares in the last quarter. Finally, Virginia Retirement Systems ET AL boosted its position in shares of Turning Point Brands by 5.3% during the 1st quarter. Virginia Retirement Systems ET AL now owns 21,700 shares of the company’s stock valued at $1,000,000 after purchasing an additional 1,100 shares in the last quarter. Institutional investors own 31.10% of the company’s stock.
TPB traded down $2.37 on Tuesday, reaching $47.42. The stock had a trading volume of 158,258 shares, compared to its average volume of 135,540. Turning Point Brands has a fifty-two week low of $26.39 and a fifty-two week high of $55.53. The company has a quick ratio of 0.29, a current ratio of 1.77 and a debt-to-equity ratio of 2.14. The stock has a market cap of $928.91 million, a PE ratio of 27.73 and a beta of 0.81.
Turning Point Brands (NYSE:TPB) last issued its earnings results on Wednesday, May 1st. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.07. Turning Point Brands had a return on equity of 47.17% and a net margin of 8.22%. The business had revenue of $91.60 million during the quarter, compared to analysts’ expectations of $89.00 million. During the same quarter in the prior year, the firm earned $0.35 EPS. The business’s revenue for the quarter was up 24.0% compared to the same quarter last year. On average, equities research analysts expect that Turning Point Brands will post 1.97 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 21st will be given a $0.045 dividend. The ex-dividend date is Thursday, June 20th. This represents a $0.18 dividend on an annualized basis and a dividend yield of 0.38%. Turning Point Brands’s dividend payout ratio (DPR) is presently 10.53%.
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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