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

Turning Point Brands, Inc. (NYSE:TPB - Get Free Report) has received a consensus recommendation of "Buy" from the six analysts that are presently covering the stock, Marketbeat Ratings reports. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $76.67.

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

Insider Activity at Turning Point Brands

In other Turning Point Brands news, Director Gregory H.A. Baxter sold 1,500 shares of the stock in a transaction on Friday, May 9th. The stock was sold at an average price of $73.64, for a total transaction of $110,460.00. Following the completion of the transaction, the director now directly owns 40,419 shares in the company, valued at $2,976,455.16. This represents a 3.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Brian Wigginton sold 10,800 shares of the stock in a transaction on Monday, June 16th. The stock was sold at an average price of $75.67, for a total value of $817,236.00. Following the transaction, the chief accounting officer now owns 10,171 shares of the company's stock, valued at $769,639.57. This represents a 51.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 115,300 shares of company stock worth $8,666,867. 6.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Voya Investment Management LLC raised its stake in Turning Point Brands by 20.2% during the first quarter. Voya Investment Management LLC now owns 18,933 shares of the company's stock worth $1,125,000 after acquiring an additional 3,187 shares in the last quarter. Militia Capital Partners LP raised its stake in Turning Point Brands by 100.0% during the first quarter. Militia Capital Partners LP now owns 14,000 shares of the company's stock worth $832,000 after acquiring an additional 7,000 shares in the last quarter. Rhumbline Advisers raised its stake in Turning Point Brands by 1.9% during the first quarter. Rhumbline Advisers now owns 24,531 shares of the company's stock worth $1,458,000 after acquiring an additional 464 shares in the last quarter. 1060 Capital LLC acquired a new position in Turning Point Brands during the first quarter worth $2,114,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Turning Point Brands in the first quarter valued at $877,000. 96.12% of the stock is currently owned by institutional investors and hedge funds.

Turning Point Brands Stock Down 1.1%

TPB opened at $73.67 on Monday. Turning Point Brands has a 1-year low of $31.45 and a 1-year high of $81.25. The company has a current ratio of 4.42, a quick ratio of 2.64 and a debt-to-equity ratio of 1.44. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of 32.31 and a beta of 0.76. The business has a 50 day moving average of $69.19 and a 200-day moving average of $63.90.

Turning Point Brands (NYSE:TPB - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.16. Turning Point Brands had a return on equity of 27.70% and a net margin of 10.19%. The company had revenue of $106.44 million during the quarter, compared to analysts' expectations of $95.75 million. During the same period in the prior year, the business earned $0.63 earnings per share. Turning Point Brands's revenue for the quarter was up 28.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Turning Point Brands will post 2.59 earnings per share for the current year.

Turning Point Brands Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Friday, June 20th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.41%. 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.

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