Zacks: Turning Point Brands Inc (TPB) Given $28.00 Consensus Target Price by Brokerages

Turning Point Brands Inc (NYSE:TPB) has been assigned a consensus broker rating score of 1.00 (Strong Buy) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. Two analysts have rated the stock with a strong buy recommendation.

Brokers have set a 12 month consensus price objective of $28.00 for the company and are forecasting that the company will post $0.30 EPS for the current quarter, according to Zacks. Zacks has also given Turning Point Brands an industry rank of 237 out of 265 based on the ratings given to related companies.

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A number of brokerages have weighed in on TPB. Zacks Investment Research downgraded Turning Point Brands from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 14th. Cowen reiterated a “buy” rating on shares of Turning Point Brands in a report on Thursday, March 15th.

Shares of Turning Point Brands stock traded down $0.11 during trading hours on Friday, reaching $20.21. The company had a trading volume of 28,212 shares, compared to its average volume of 48,017. The company has a market cap of $388.23, a price-to-earnings ratio of 19.43 and a beta of 0.47. The company has a debt-to-equity ratio of 3.49, a quick ratio of 0.42 and a current ratio of 2.08. Turning Point Brands has a twelve month low of $14.45 and a twelve month high of $22.99.

Turning Point Brands (NYSE:TPB) last announced its earnings results on Thursday, March 8th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by ($0.10). The company had revenue of $73.56 million for the quarter, compared to the consensus estimate of $72.35 million. Turning Point Brands had a return on equity of 55.65% and a net margin of 7.07%. The firm’s revenue for the quarter was up 36.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.87 earnings per share. equities analysts anticipate that Turning Point Brands will post 1.37 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 13th. Shareholders of record on Monday, March 26th will be issued a dividend of $0.04 per share. The ex-dividend date of this dividend is Friday, March 23rd. This represents a $0.16 dividend on an annualized basis and a yield of 0.79%. Turning Point Brands’s payout ratio is currently 3.85%.

In other Turning Point Brands news, insider James Wells Dobbins sold 10,000 shares of the stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $20.94, for a total transaction of $209,400.00. Following the completion of the sale, the insider now directly owns 94,041 shares in the company, valued at approximately $1,969,218.54. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder General L.P. Standard purchased 150,000 shares of the firm’s stock in a transaction on Wednesday, January 3rd. The shares were acquired at an average price of $20.80 per share, with a total value of $3,120,000.00. Following the completion of the acquisition, the insider now owns 2,500 shares in the company, valued at approximately $52,000. The disclosure for this purchase can be found here. Company insiders own 14.20% of the company’s stock.

Institutional investors have recently modified their holdings of the business. OxFORD Asset Management LLP acquired a new stake in Turning Point Brands during the 3rd quarter worth about $197,000. Brandywine Global Investment Management LLC acquired a new stake in shares of Turning Point Brands in the 4th quarter valued at about $381,000. Martingale Asset Management L P grew its stake in shares of Turning Point Brands by 20.8% in the 4th quarter. Martingale Asset Management L P now owns 34,803 shares of the company’s stock valued at $736,000 after buying an additional 6,000 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Turning Point Brands by 11.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 42,473 shares of the company’s stock valued at $722,000 after buying an additional 4,256 shares during the period. Finally, Millennium Management LLC grew its stake in shares of Turning Point Brands by 68.3% in the 4th quarter. Millennium Management LLC now owns 42,500 shares of the company’s stock valued at $898,000 after buying an additional 17,252 shares during the period. Hedge funds and other institutional investors own 19.83% of the company’s stock.

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About Turning Point Brands

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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