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

Key Points

• Turning Point Brands, Inc. (NYSE:TPB) has received an average rating of "Buy" from eight brokerages, with analysts setting an average 12-month price target of $78.83.
• The company's recent quarterly earnings report showed EPS of $0.98, surpassing analysts' expectations by $0.19, and a year-over-year revenue growth of 25.1%.
• Turning Point Brands announced a quarterly dividend of $0.075 per share, to be paid on October 10th, with an annualized yield of 0.3%.

Turning Point Brands, Inc. (NYSE:TPB - Get Free Report) has been assigned an average recommendation of "Buy" from the eight analysts that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $78.8333.

TPB has been the topic of a number of recent research reports. Needham & Company LLC assumed coverage on shares of Turning Point Brands in a research note on Friday, August 1st. They issued a "hold" rating on the stock. Oppenheimer boosted their price target on Turning Point Brands from $85.00 to $98.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Zacks Research raised Turning Point Brands from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 14th. Finally, Wall Street Zen downgraded Turning Point Brands from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th.

Turning Point Brands Stock Performance

NYSE TPB traded up $2.64 on Friday, reaching $100.82. The stock had a trading volume of 200,848 shares, compared to its average volume of 316,003. The stock has a market cap of $1.82 billion, a P/E ratio of 42.18 and a beta of 0.76. Turning Point Brands has a 12-month low of $38.16 and a 12-month high of $102.90. The business's 50-day moving average price is $88.80 and its 200 day moving average price is $74.04. The company has a debt-to-equity ratio of 1.30, a quick ratio of 2.67 and a current ratio of 4.22.

Turning Point Brands (NYSE:TPB - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.98 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.79 by $0.19. Turning Point Brands had a net margin of 10.34% and a return on equity of 25.32%. The business had revenue of $116.63 million for the quarter, compared to analyst estimates of $107.30 million. During the same period last year, the firm posted $0.68 earnings per share. The company's revenue for the quarter was up 25.1% compared to the same quarter last year. As a group, equities analysts expect that Turning Point Brands will post 2.59 earnings per share for the current year.

Turning Point Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Friday, September 19th will be paid a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Friday, September 19th. Turning Point Brands's payout ratio is currently 12.55%.

Insiders Place Their Bets

In other Turning Point Brands news, Director Lawrence Wexler sold 25,000 shares of the business's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $75.94, for a total transaction of $1,898,500.00. Following the sale, the director directly owned 330,186 shares in the company, valued at approximately $25,074,324.84. The trade was a 7.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Brian Wigginton sold 10,800 shares of the stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $75.67, for a total transaction of $817,236.00. Following the completion of the transaction, the chief accounting officer owned 10,171 shares of the company's stock, valued at $769,639.57. This represents a 51.50% decrease in their position. The disclosure for this sale can be found here. 6.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Divisadero Street Capital Management LP boosted its stake in shares of Turning Point Brands by 187.5% during the 2nd quarter. Divisadero Street Capital Management LP now owns 943,784 shares of the company's stock worth $71,511,000 after acquiring an additional 615,521 shares in the last quarter. Maple Rock Capital Partners Inc. purchased a new position in shares of Turning Point Brands during the 2nd quarter worth approximately $18,458,000. 4D Advisors LLC increased its position in Turning Point Brands by 133.7% during the second quarter. 4D Advisors LLC now owns 222,000 shares of the company's stock worth $16,821,000 after buying an additional 127,000 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of Turning Point Brands by 1,369.7% in the second quarter. SG Americas Securities LLC now owns 123,648 shares of the company's stock worth $9,369,000 after acquiring an additional 115,235 shares during the last quarter. Finally, Northern Right Capital Management L.P. lifted its position in shares of Turning Point Brands by 63.9% in the first quarter. Northern Right Capital Management L.P. now owns 220,178 shares of the company's stock valued at $13,087,000 after acquiring an additional 85,824 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.