Turning Point Brands (NYSE:TPB) Hits New 1-Year High – Time to Buy?

Turning Point Brands, Inc. (NYSE:TPB) shares reached a new 52-week high on Monday . The stock traded as high as $125.50 and last traded at $125.0230, with a volume of 85756 shares traded. The stock had previously closed at $121.15.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Zacks Research lowered shares of Turning Point Brands from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Wall Street Zen lowered shares of Turning Point Brands from a “buy” rating to a “hold” rating in a report on Saturday, January 17th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Turning Point Brands in a research note on Tuesday, December 23rd. Industrial Alliance Securities set a $110.00 target price on Turning Point Brands in a research note on Wednesday, November 5th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $130.00 price target on shares of Turning Point Brands in a research note on Wednesday, January 14th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Turning Point Brands has an average rating of “Moderate Buy” and a consensus price target of $116.67.

Turning Point Brands Stock Performance

The company has a debt-to-equity ratio of 0.82, a current ratio of 5.56 and a quick ratio of 3.98. The stock’s 50 day simple moving average is $108.61 and its two-hundred day simple moving average is $99.04. The stock has a market cap of $2.39 billion, a P/E ratio of 44.22 and a beta of 0.86.

Turning Point Brands (NYSE:TPB) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.46. The business had revenue of $118.98 million for the quarter, compared to analyst estimates of $111.42 million. Turning Point Brands had a net margin of 12.02% and a return on equity of 24.44%. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period last year, the business posted $0.68 earnings per share. As a group, research analysts forecast that Turning Point Brands, Inc. will post 2.59 EPS for the current year.

Turning Point Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 9th. Stockholders of record on Friday, December 19th were paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend was Friday, December 19th. Turning Point Brands’s dividend payout ratio (DPR) is currently 10.56%.

Insiders Place Their Bets

In other Turning Point Brands news, Chairman David Edward Glazek sold 30,000 shares of the company’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $110.26, for a total value of $3,307,800.00. Following the transaction, the chairman directly owned 127,083 shares in the company, valued at $14,012,171.58. The trade was a 19.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gregory H.A. Baxter sold 1,500 shares of Turning Point Brands stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $98.23, for a total transaction of $147,345.00. Following the sale, the director directly owned 38,919 shares of the company’s stock, valued at $3,823,013.37. The trade was a 3.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 96,220 shares of company stock valued at $9,958,542 in the last quarter. Company insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On Turning Point Brands

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Pekin Hardy Strauss Inc. grew its stake in shares of Turning Point Brands by 3.1% during the fourth quarter. Pekin Hardy Strauss Inc. now owns 31,165 shares of the company’s stock worth $3,378,000 after buying an additional 950 shares during the last quarter. Vest Financial LLC lifted its stake in shares of Turning Point Brands by 118.8% in the 4th quarter. Vest Financial LLC now owns 31,398 shares of the company’s stock valued at $3,404,000 after purchasing an additional 17,046 shares during the last quarter. Comerica Bank increased its stake in Turning Point Brands by 720.9% in the fourth quarter. Comerica Bank now owns 1,141 shares of the company’s stock worth $124,000 after purchasing an additional 1,002 shares during the period. Pictet Asset Management Holding SA lifted its holdings in Turning Point Brands by 23.7% during the 4th quarter. Pictet Asset Management Holding SA now owns 2,687 shares of the company’s stock valued at $291,000 after buying an additional 514 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Turning Point Brands by 4.4% during the fourth quarter. Vanguard Group Inc. now owns 1,451,394 shares of the company’s stock valued at $157,331,000 after acquiring an additional 61,311 shares in the last quarter. Institutional investors and hedge funds own 96.12% of the company’s stock.

Turning Point Brands Company Profile

Turning Point Brands, Inc (NYSE: TPB) is a U.S.-based consumer products company focused on the manufacture, marketing and distribution of smokeless tobacco, vaping and cigar products. Headquartered in Old Hickory, Tennessee, the company serves retail outlets across all 50 states through a direct-store-delivery network and select third-party distributors. Turning Point Brands operates two reporting segments—Smokeless Products and Cigar—and leverages its logistics capabilities to offer a broad portfolio of brands and SKUs.

In its Smokeless Products segment, Turning Point Brands produces moist smokeless tobacco under leading brand names such as Grizzly, Kodiak and Stoker’s.