Turning Point Brands, Inc. (NYSE:TPB) Stock Has Average Target Price of $108.50

Key Points

• Analysts have a consensus “Hold” rating on Turning Point Brands, based on five brokerages: three rate it a buy, one a hold, and one a sell. Their average 12-month price target is $108.50.
• The company beat quarterly expectations, reporting EPS of $0.23 versus $0.12 expected and revenue of $142.96 million versus $129.56 million expected; revenue rose 22.6% year over year.
• Turning Point Brands declared a quarterly dividend of $0.08 per share, or $0.32 annualized, representing a 0.5% yield.

Turning Point Brands, Inc. (NYSE:TPB - Get Free Report) has been given a consensus recommendation of "Hold" by the five brokerages that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $108.50.

A number of equities research analysts recently issued reports on TPB shares. Wall Street Zen raised shares of Turning Point Brands from a "strong sell" rating to a "sell" rating in a report on Monday, August 10th. BTIG Research restated a "buy" rating on shares of Turning Point Brands in a research report on Monday, August 10th. Compass Point set a $116.00 target price on shares of Turning Point Brands in a research note on Monday, August 10th. Weiss Ratings reiterated a "hold (c)" rating on shares of Turning Point Brands in a report on Friday, August 28th. Finally, Oppenheimer decreased their target price 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.

Turning Point Brands Stock Performance

NYSE TPB opened at $70.20 on Thursday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 4.16 and a current ratio of 5.67. The stock's fifty day moving average is $66.42 and its two-hundred day moving average is $86.28. The firm has a market capitalization of $1.36 billion, a P/E ratio of 30.13 and a beta of 1.08. Turning Point Brands has a fifty-two week low of $54.17 and a fifty-two week high of $146.90.

Turning Point Brands (NYSE:TPB - Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.12 by $0.11. The business 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 company's revenue for the quarter was up 22.6% on a year-over-year basis. During the same period last year, the company earned $0.98 EPS. On average, research analysts anticipate that Turning Point Brands will post 1.19 earnings per share for the current year.

Turning Point Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 8th. Stockholders of record on Friday, December 18th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Friday, December 18th. Turning Point Brands's payout ratio is presently 13.73%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in Turning Point Brands in the second quarter valued at about $137,273,000. First Trust Advisors LP boosted its stake in Turning Point Brands by 39.6% during the first quarter. First Trust Advisors LP now owns 689,905 shares of the company's stock worth $59,877,000 after buying an additional 195,643 shares during the period. Maple Rock Capital Partners Inc. increased its position in shares of Turning Point Brands by 57.5% during the second quarter. Maple Rock Capital Partners Inc. now owns 686,800 shares of the company's stock valued at $58,248,000 after acquiring an additional 250,800 shares during the last quarter. Bank of America Corp DE acquired a new stake in shares of Turning Point Brands during the second quarter valued at about $47,278,000. Finally, Copeland Capital Management LLC increased its position in shares of Turning Point Brands by 2.6% during the third quarter. Copeland Capital Management LLC now owns 708,507 shares of the company's stock valued at $41,589,000 after acquiring an additional 18,184 shares during the last quarter. 96.12% of the stock is currently owned by institutional investors and hedge funds.

About Turning Point Brands

Turning Point Brands, Inc is a consumer products company focused on the manufacture, marketing and distribution of branded products for adult consumers. Its portfolio includes rolling papers, wraps, cigarette papers, smoking accessories, smokeless tobacco and modern oral nicotine products.

The company's principal brands include Zig-Zag, a long-standing brand of rolling papers and related accessories, and Stoker's, which offers moist smokeless tobacco and other tobacco products. Turning Point Brands also develops and markets newer nicotine products, including nicotine pouches, through its NewGen Products business.

Turning Point Brands serves retailers and consumers primarily in the United States through convenience stores, tobacco and specialty retailers, mass merchants, e-commerce channels and other distribution networks.

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