Turning Point Brands, Inc. (TPB) – What Are Investment Firms Thinking About This Stock?

Shares of Turning Point Brands, Inc. (NYSE:TPB) have been given an average recommendation of “Moderate Buy” by the six research firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $109.00.

Several research firms have recently weighed in on TPB. Wall Street Zen raised Turning Point Brands from a “strong sell” rating to a “sell” rating in a research note on Monday, August 10th. Compass Point set a $116.00 target price on shares of Turning Point Brands in a research report on Monday, August 10th. Weiss Ratings reissued a “hold (c)” rating on shares of Turning Point Brands in a research report on Friday, August 28th. Oppenheimer cut their price target on shares of Turning Point Brands from $130.00 to $90.00 and set an “outperform” rating on the stock in a report on Tuesday, September 22nd. Finally, BTIG Research reaffirmed a “buy” rating on shares of Turning Point Brands in a research report on Monday, August 10th.

Hedge Funds Weigh In On Turning Point Brands

A number of hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC lifted its holdings in shares of Turning Point Brands by 103.3% during the 3rd quarter. GAMMA Investing LLC now owns 681 shares of the company’s stock valued at $40,000 after acquiring an additional 346 shares in the last quarter. Operose Advisors LLC purchased a new stake in Turning Point Brands during the 2nd quarter worth $42,000. Fifth Third Bancorp acquired a new stake in Turning Point Brands in the 1st quarter valued at $126,000. Quantbot Technologies LP acquired a new stake in Turning Point Brands in the 2nd quarter valued at $209,000. Finally, Bessemer Group Inc. increased its holdings in Turning Point Brands by 31.0% in the 1st quarter. Bessemer Group Inc. now owns 2,845 shares of the company’s stock valued at $247,000 after purchasing an additional 674 shares in the last quarter. Hedge funds and other institutional investors own 96.12% of the company’s stock.

Turning Point Brands Price Performance

Shares of Turning Point Brands stock opened at $62.55 on Friday. Turning Point Brands has a twelve month low of $54.17 and a twelve month high of $146.90. The stock has a market capitalization of $1.21 billion, a P/E ratio of 26.85 and a beta of 0.97. The company has a current ratio of 5.67, a quick ratio of 4.16 and a debt-to-equity ratio of 0.65. The business’s fifty day moving average price is $71.45 and its 200 day moving average price is $78.79.

Turning Point Brands (NYSE:TPB) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.11. The firm had revenue of $142.96 million during the quarter, compared to the consensus estimate of $129.56 million. Turning Point Brands had a return on equity of 11.35% and a net margin of 8.78%. The firm’s quarterly revenue was up 22.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.98 earnings per share. As a group, research analysts anticipate that Turning Point Brands will post 1.19 earnings per share for the current year.

Turning Point Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 9th. Stockholders of record on Friday, September 18th were given a $0.08 dividend. The ex-dividend date of this dividend was Friday, September 18th. This represents a $0.32 annualized dividend and a dividend yield of 0.5%. Turning Point Brands’s dividend payout ratio is presently 13.73%.

Turning Point Brands Company Profile

Turning Point Brands, Inc is a Louisville, Kentucky-based consumer products company focused primarily on tobacco, nicotine and related products. The company develops, manufactures, markets and distributes products through convenience stores, tobacco shops, mass merchants, e-commerce channels and other retailers in the United States and select international markets.

Its portfolio includes rolling papers, cigar and cigarette wraps, and other smoking accessories sold under the Zig-Zag brand; moist snuff and other smokeless tobacco products marketed under the Stoker’s brand; and modern oral nicotine products, including FRE nicotine pouches.