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

Shares of Turning Point Brands, Inc. (NYSE:TPB - Get Free Report) have earned an average recommendation of "Buy" from the six brokerages that are currently covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $76.67.

Several brokerages have weighed in on TPB. Oppenheimer upped their target price on Turning Point Brands from $65.00 to $85.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Alliance Global Partners initiated coverage on Turning Point Brands in a report on Monday, March 3rd. They issued a "buy" rating and a $80.00 price objective on the stock. Industrial Alliance Securities set a $85.00 target price on shares of Turning Point Brands in a research note on Thursday, March 6th. Finally, Wall Street Zen raised shares of Turning Point Brands from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th.

Turning Point Brands Stock Up 2.4%

TPB stock traded up $1.75 during midday trading on Thursday, reaching $74.43. The company had a trading volume of 220,028 shares, compared to its average volume of 171,799. Turning Point Brands has a 1 year low of $30.61 and a 1 year high of $81.05. The company has a current ratio of 4.21, a quick ratio of 1.78 and a debt-to-equity ratio of 1.33. The company has a market capitalization of $1.33 billion, a P/E ratio of 29.54 and a beta of 0.69. The company has a 50 day moving average of $63.65 and a two-hundred day moving average of $62.29.

Turning Point Brands (NYSE:TPB - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.75 by $0.16. Turning Point Brands had a net margin of 11.63% and a return on equity of 33.14%. The business had revenue of $106.44 million for the quarter, compared to the consensus estimate of $95.75 million. During the same period in the prior year, the business posted $0.63 earnings per share. Turning Point Brands's revenue for the quarter was up 28.2% compared to the same quarter last year. On average, equities research analysts expect that Turning Point Brands will post 2.59 earnings per share for the current fiscal year.

Turning Point Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 20th will be paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date is Friday, June 20th. Turning Point Brands's payout ratio is 13.16%.

Insiders Place Their Bets

In related news, Director Gregory H.A. Baxter sold 1,500 shares of the company's stock in a transaction on Friday, May 9th. The stock was sold at an average price of $73.64, for a total value of $110,460.00. Following the completion of the transaction, the director now directly owns 40,419 shares in the company, valued at approximately $2,976,455.16. This represents a 3.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Brian Wigginton sold 3,500 shares of Turning Point Brands stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $75.75, for a total transaction of $265,125.00. Following the sale, the chief accounting officer now owns 10,171 shares in the company, valued at $770,453.25. This represents a 25.60% decrease in their position. The disclosure for this sale can be found here. Company insiders own 6.60% of the company's stock.

Institutional Trading of Turning Point Brands

Institutional investors have recently made changes to their positions in the business. Entropy Technologies LP acquired a new position in Turning Point Brands in the fourth quarter worth about $234,000. Northern Trust Corp raised its holdings in shares of Turning Point Brands by 7.9% in the 4th quarter. Northern Trust Corp now owns 160,386 shares of the company's stock worth $9,639,000 after buying an additional 11,808 shares in the last quarter. Legato Capital Management LLC acquired a new position in shares of Turning Point Brands in the 4th quarter worth approximately $278,000. Principal Financial Group Inc. lifted its position in shares of Turning Point Brands by 7.1% during the 4th quarter. Principal Financial Group Inc. now owns 7,247 shares of the company's stock worth $436,000 after buying an additional 482 shares during the period. Finally, Russell Investments Group Ltd. boosted its stake in Turning Point Brands by 2,339.9% in the 4th quarter. Russell Investments Group Ltd. now owns 24,985 shares of the company's stock valued at $1,502,000 after buying an additional 23,961 shares in the last quarter. 96.12% of the stock is currently owned by institutional investors and hedge funds.

Turning Point Brands Company Profile

Turning Point Brands, Inc, together with its subsidiaries, manufactures, markets, and distributes branded consumer products. The company operates through three segments: Zig-Zag Products, Stoker's Products, and Creative Distribution Solutions. Zig-Zag Products segment markets and distributes rolling papers, tubes, finished cigars, make-your-own cigar wraps, and related products, as well as lighters and other accessories under the Zig-Zag brand.