Turning Point Brands, Inc. (NYSE:TPB) Receives $78.83 Consensus Target Price from Brokerages

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 rating of "Buy" from the eight research firms that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation, five have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $78.8333.

A number of analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of Turning Point Brands from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Needham & Company LLC began coverage on Turning Point Brands in a research report on Friday, August 1st. They issued a "hold" rating for the company. Oppenheimer boosted their price objective on shares of Turning Point Brands from $85.00 to $98.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Finally, Zacks Research upgraded shares of Turning Point Brands from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 14th.

Insiders Place Their Bets

In other Turning Point Brands news, CEO Graham Purdy sold 21,400 shares of the firm's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $74.89, for a total transaction of $1,602,646.00. Following the transaction, the chief executive officer owned 227,466 shares of the company's stock, valued at approximately $17,034,928.74. This trade represents a 8.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Lawrence Wexler sold 25,000 shares of Turning Point Brands stock in a transaction that occurred 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 57,200 shares of company stock worth $4,318,382 in the last three months. Corporate insiders own 6.60% of the company's stock.

Hedge Funds Weigh In On Turning Point Brands

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC lifted its position in shares of Turning Point Brands by 53.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 13,693 shares of the company's stock valued at $819,000 after buying an additional 4,797 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Turning Point Brands in the first quarter worth $325,000. Teacher Retirement System of Texas grew its stake in shares of Turning Point Brands by 122.3% during the first quarter. Teacher Retirement System of Texas now owns 121,804 shares of the company's stock worth $7,240,000 after acquiring an additional 67,005 shares during the last quarter. 4D Advisors LLC acquired a new position in shares of Turning Point Brands during the first quarter valued at about $5,647,000. Finally, Ameriprise Financial Inc. acquired a new stake in Turning Point Brands in the 4th quarter worth approximately $957,000. Hedge funds and other institutional investors own 96.12% of the company's stock.

Turning Point Brands Stock Performance

Shares of Turning Point Brands stock traded down $1.03 on Friday, hitting $98.48. 44,260 shares of the company's stock were exchanged, compared to its average volume of 274,229. The company has a 50-day simple moving average of $87.75 and a 200-day simple moving average of $73.64. The stock has a market capitalization of $1.77 billion, a PE ratio of 41.22 and a beta of 0.76. Turning Point Brands has a 1 year low of $38.08 and a 1 year high of $102.90. 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 quarterly earnings results on Wednesday, August 6th. The company reported $0.98 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.79 by $0.19. The company had revenue of $116.63 million for the quarter, compared to the consensus estimate of $107.30 million. Turning Point Brands had a net margin of 10.34% and a return on equity of 25.32%. Turning Point Brands's revenue for the quarter was up 25.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.68 EPS. As a group, equities analysts anticipate that Turning Point Brands will post 2.59 EPS for the current year.

Turning Point Brands Announces Dividend

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

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.