Access Investment Management LLC Purchases 18,800 Shares of Turning Point Brands, Inc. $TPB

Key Points

• Access Investment Management increased its Turning Point Brands stake by 57.7% in the third quarter, purchasing 18,800 shares to own 51,392 shares valued at approximately $3.02 million. Institutional investors collectively own 96.12% of TPB.
• Turning Point Brands reported quarterly EPS of $0.23, beating estimates by $0.11, while revenue rose 22.6% year over year to $142.96 million. The stock opened at $64.12, near the lower end of its 52-week range.
• Analyst sentiment remains generally positive, with four Buy ratings, one Hold and one Sell; the stock has a “Moderate Buy” consensus rating and an average price target of $109, despite Oppenheimer cutting its target to $90.

Access Investment Management LLC raised its position in Turning Point Brands, Inc. (NYSE:TPB - Free Report) by 57.7% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 51,392 shares of the company's stock after purchasing an additional 18,800 shares during the period. Access Investment Management LLC owned 0.27% of Turning Point Brands worth $3,017,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TPB. Operose Advisors LLC acquired a new stake in shares of Turning Point Brands in the second quarter valued at about $42,000. Sterling Capital Management LLC raised its holdings in Turning Point Brands by 566.7% in the 3rd quarter. Sterling Capital Management LLC now owns 620 shares of the company's stock valued at $36,000 after acquiring an additional 527 shares during the last quarter. GAMMA Investing LLC raised its holdings in Turning Point Brands by 103.3% in 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 during the last quarter. Fifth Third Bancorp acquired a new stake in Turning Point Brands in the 1st quarter valued at about $126,000. Finally, Quantbot Technologies LP purchased a new position in Turning Point Brands in the 2nd quarter worth approximately $209,000. Institutional investors and hedge funds own 96.12% of the company's stock.

Turning Point Brands Stock Performance

NYSE:TPB opened at $64.12 on Monday. 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 has a market capitalization of $1.24 billion, a P/E ratio of 27.52 and a beta of 0.97. The company has a 50 day moving average price of $69.14 and a 200 day moving average price of $78.33. Turning Point Brands, Inc. 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 posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.11. The firm had revenue of $142.96 million for 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 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 EPS. Equities research analysts forecast that Turning Point Brands, Inc. will post 1.19 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on TPB shares. Oppenheimer cut their price target on Turning Point Brands from $130.00 to $90.00 and set an "outperform" rating for the company in a report on Tuesday, September 22nd. Compass Point set a $116.00 price objective on Turning Point Brands in a research note on Monday, August 10th. BTIG Research reissued a "buy" rating on shares of Turning Point Brands in a research note on Monday, August 10th. Weiss Ratings restated a "hold (c)" rating on shares of Turning Point Brands in a report on Friday, August 28th. Finally, Wall Street Zen upgraded Turning Point Brands from a "strong sell" rating to a "sell" rating in a report on Monday, August 10th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Turning Point Brands presently has an average rating of "Moderate Buy" and a consensus price target of $109.00.

Turning Point Brands Company Profile

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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