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

Turning Point Brands, Inc. (NYSE:TPB - Get Free Report) has received a consensus rating of "Buy" from the six ratings firms that are presently covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $76.67.

TPB has been the subject of several analyst reports. Oppenheimer lifted their price target on shares of Turning Point Brands from $65.00 to $85.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Industrial Alliance Securities set a $85.00 price target on shares of Turning Point Brands in a research report on Thursday, March 6th. Alliance Global Partners initiated coverage on shares of Turning Point Brands in a research report on Monday, March 3rd. They set a "buy" rating and a $80.00 price target for the company. Finally, Wall Street Zen upgraded shares of Turning Point Brands from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th.

Insider Buying and Selling

In related news, CAO Brian Wigginton sold 3,500 shares of Turning Point Brands stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $75.75, for a total transaction of $265,125.00. Following the transaction, the chief accounting officer now owns 10,171 shares of the company's stock, valued at $770,453.25. This trade represents a 25.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Brittani Cushman sold 7,500 shares of Turning Point Brands stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $74.36, for a total transaction of $557,700.00. Following the transaction, the senior vice president now directly owns 34,687 shares in the company, valued at $2,579,325.32. The trade was a 17.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 115,300 shares of company stock valued at $8,666,867 in the last 90 days. 6.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Ameriprise Financial Inc. bought a new position in Turning Point Brands during the 4th quarter worth approximately $957,000. ProShare Advisors LLC bought a new position in Turning Point Brands in the fourth quarter valued at approximately $290,000. Rhumbline Advisers lifted its stake in Turning Point Brands by 1.9% in the first quarter. Rhumbline Advisers now owns 24,531 shares of the company's stock valued at $1,458,000 after buying an additional 464 shares in the last quarter. Northern Trust Corp lifted its stake in Turning Point Brands by 7.9% in the fourth quarter. Northern Trust Corp now owns 160,386 shares of the company's stock valued at $9,639,000 after buying an additional 11,808 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in Turning Point Brands by 14,100.0% in the first quarter. GAMMA Investing LLC now owns 10,224 shares of the company's stock valued at $608,000 after buying an additional 10,152 shares in the last quarter. Institutional investors own 96.12% of the company's stock.

Turning Point Brands Price Performance

NYSE:TPB traded up $1.34 during mid-day trading on Monday, reaching $74.36. 384,328 shares of the company were exchanged, compared to its average volume of 187,816. Turning Point Brands has a 12 month low of $31.45 and a 12 month high of $81.25. The company has a fifty day moving average of $70.24 and a 200 day moving average of $64.11. The company has a quick ratio of 2.64, a current ratio of 4.42 and a debt-to-equity ratio of 1.44. The stock has a market cap of $1.33 billion, a PE ratio of 32.61 and a beta of 0.76.

Turning Point Brands (NYSE:TPB - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.91 EPS for the quarter, topping analysts' consensus estimates of $0.75 by $0.16. Turning Point Brands had a net margin of 10.19% and a return on equity of 27.70%. The firm had revenue of $106.44 million for the quarter, compared to analyst estimates of $95.75 million. During the same quarter in the prior year, the firm earned $0.63 EPS. The company's revenue was up 28.2% on a year-over-year basis. On average, research analysts anticipate that Turning Point Brands will post 2.59 EPS for the current fiscal year.

Turning Point Brands Announces Dividend

The company 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 dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend is Friday, June 20th. Turning Point Brands's payout ratio is 13.16%.

About Turning Point Brands

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.