Turning Point Brands, Inc. (NYSE:TPB) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• Analysts give Turning Point Brands a “Moderate Buy” consensus: Four of six analysts rate the stock a buy, while one rates it a hold and one a sell. The average 12-month price target is $115.67, well above the reported $69.95 share price.
• Institutional ownership is substantial, at 96.12%: BlackRock and Bank of America initiated sizable positions, while Maple Rock Capital Partners and Copeland Capital Management increased their holdings.
• Quarterly results exceeded expectations: Turning Point Brands reported $0.23 in earnings per share versus the $0.12 consensus estimate and revenue of $142.96 million, up 22.6% year over year. The company also declared a quarterly dividend of $0.08 per share, yielding approximately 0.5% annually.

Shares of Turning Point Brands, Inc. (NYSE:TPB - Get Free Report) have been assigned an average rating of "Moderate Buy" from the six research firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $115.6667.

Several equities analysts have issued reports on TPB shares. Wall Street Zen upgraded shares of 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 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. Finally, BTIG Research restated a "buy" rating on shares of Turning Point Brands in a research note on Monday, August 10th.

Hedge Funds Weigh In On Turning Point Brands

A number of hedge funds have recently modified their holdings of TPB. BlackRock Inc. acquired a new stake in Turning Point Brands during the 2nd quarter worth $137,273,000. Bank of America Corp DE purchased a new position in Turning Point Brands during the 2nd quarter worth $47,278,000. Maple Rock Capital Partners Inc. increased its stake in Turning Point Brands by 57.5% in the second quarter. Maple Rock Capital Partners Inc. now owns 686,800 shares of the company's stock valued at $58,248,000 after purchasing an additional 250,800 shares during the period. Madison Avenue Partners LP acquired a new position in Turning Point Brands in the fourth quarter valued at $26,853,000. Finally, Copeland Capital Management LLC raised its holdings in shares of Turning Point Brands by 99.4% in the first quarter. Copeland Capital Management LLC now owns 407,208 shares of the company's stock valued at $35,342,000 after buying an additional 203,020 shares during the last quarter. 96.12% of the stock is currently owned by hedge funds and other institutional investors.

Turning Point Brands Price Performance

TPB stock opened at $69.95 on Wednesday. The business has a 50 day moving average price of $81.08 and a 200 day moving average price of $84.45. The company has a quick ratio of 4.16, a current ratio of 5.67 and a debt-to-equity ratio of 0.65. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of 30.02 and a beta of 0.94. Turning Point Brands has a fifty-two week low of $65.80 and a fifty-two week high of $146.90.

Turning Point Brands (NYSE:TPB - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.12 by $0.11. Turning Point Brands had a net margin of 8.78% and a return on equity of 11.35%. The company had revenue of $142.96 million for the quarter, compared to analyst estimates of $129.56 million. During the same period in the prior year, the firm posted $0.98 earnings per share. The firm's revenue was up 22.6% on a year-over-year basis. Equities research analysts anticipate that Turning Point Brands will post 1.23 earnings per share for the current fiscal year.

Turning Point Brands Announces Dividend

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

About Turning Point Brands

Turning Point Brands, Inc is a consumer-products company focused on branded products for the tobacco, smoking-accessory and modern oral categories. Its portfolio includes rolling papers, wraps, smokeless tobacco, nicotine pouches and related products marketed under established brands.

The company's principal brands include Zig-Zag, which offers rolling papers, cones, wraps and smoking accessories; Stoker's, known for smokeless tobacco products; and FRE, a brand of nicotine pouches. Turning Point Brands also develops and distributes other alternative and specialty products through its brand portfolio.

Turning Point Brands sells its products primarily through convenience stores, tobacco and vape retailers, specialty retailers, distributors, e-commerce channels and other consumer outlets in the United States, with some products available internationally.

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