Analysts Set Turning Point Brands, Inc. (NYSE:TPB) PT at $116.67

Shares of Turning Point Brands, Inc. (NYSE:TPB) have received an average recommendation of “Moderate Buy” from the five analysts that are covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $116.6667.

Several brokerages have recently issued reports on TPB. Oppenheimer reissued an “outperform” rating and set a $130.00 price target on shares of Turning Point Brands in a report on Wednesday, January 14th. Alliance Global Partners lifted their price objective on shares of Turning Point Brands from $103.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Industrial Alliance Securities set a $110.00 target price on shares of Turning Point Brands in a research report on Wednesday, November 5th. Wall Street Zen lowered shares of Turning Point Brands from a “buy” rating to a “hold” rating in a research note on Saturday, January 17th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Turning Point Brands in a research report on Tuesday, December 23rd.

Insider Activity at Turning Point Brands

In other news, Director Lawrence Wexler sold 21,069 shares of the stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $100.02, for a total value of $2,107,321.38. Following the completion of the transaction, the director owned 290,765 shares of the company’s stock, valued at approximately $29,082,315.30. This represents a 6.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman David Edward Glazek sold 30,000 shares of the company’s stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $110.26, for a total transaction of $3,307,800.00. Following the completion of the sale, the chairman directly owned 127,083 shares of the company’s stock, valued at $14,012,171.58. The trade was a 19.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 96,220 shares of company stock worth $9,958,542 in the last ninety days. 6.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its position in Turning Point Brands by 90.7% in the second quarter. GAMMA Investing LLC now owns 328 shares of the company’s stock worth $25,000 after purchasing an additional 156 shares during the period. First Horizon Corp bought a new stake in shares of Turning Point Brands in the 3rd quarter worth $25,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Turning Point Brands in the 3rd quarter worth $28,000. Advisory Services Network LLC acquired a new stake in shares of Turning Point Brands in the third quarter valued at $28,000. Finally, Briaud Financial Planning Inc bought a new position in Turning Point Brands during the second quarter valued at about $31,000. Institutional investors and hedge funds own 96.12% of the company’s stock.

Turning Point Brands Stock Performance

Shares of TPB stock opened at $124.81 on Tuesday. The company has a market cap of $2.38 billion, a P/E ratio of 43.95 and a beta of 0.87. The business has a 50 day moving average of $110.79 and a two-hundred day moving average of $100.08. Turning Point Brands has a 52 week low of $51.48 and a 52 week high of $129.94. The company has a quick ratio of 3.98, a current ratio of 5.56 and a debt-to-equity ratio of 0.82.

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

About Turning Point Brands

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.