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

Key Points

• Turning Point Brands has a “Moderate Buy” consensus rating from six analysts, with four buys, one hold and one sell. The average 12-month price target is $115.67, above the reported share price of $83.57.
• The company exceeded quarterly expectations, reporting adjusted EPS of $0.23 versus a $0.12 consensus estimate and revenue of $142.96 million, up 22.6% year over year.
• Turning Point Brands declared a quarterly dividend of $0.08 per share, equivalent to an annualized $0.32 payout and a 0.4% yield; institutional investors own 96.12% of the stock.

Turning Point Brands, Inc. (NYSE:TPB - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the six analysts that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $115.6667.

A number of equities research analysts have recently weighed in on TPB shares. Needham & Company LLC raised Turning Point Brands from a "hold" rating to a "buy" rating and set a $125.00 target price for the company in a research note on Friday, May 8th. BTIG Research restated a "buy" rating on shares of Turning Point Brands in a research report on Monday, August 10th. Wall Street Zen raised Turning Point Brands from a "strong sell" rating to a "sell" rating in a research note on Monday, August 10th. Weiss Ratings downgraded Turning Point Brands from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, June 2nd. Finally, Compass Point set a $116.00 price objective on Turning Point Brands in a research note on Monday, August 10th.

Turning Point Brands Price Performance

Shares of NYSE:TPB opened at $83.57 on Friday. The company has a quick ratio of 4.16, a current ratio of 5.67 and a debt-to-equity ratio of 0.65. The stock has a market cap of $1.62 billion, a PE ratio of 35.87 and a beta of 0.91. The company's fifty day moving average is $83.07 and its 200 day moving average is $91.09. Turning Point Brands has a 52 week low of $65.80 and a 52 week high of $146.90.

Turning Point Brands (NYSE:TPB - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.11. Turning Point Brands had a net margin of 8.78% and a return on equity of 11.35%. The business had revenue of $142.96 million during the quarter, compared to analyst estimates of $129.56 million. During the same period in the prior year, the business posted $0.98 earnings per share. The company's revenue was up 22.6% on a year-over-year basis. Research analysts anticipate that Turning Point Brands will post 1.23 earnings per share for the current year.

Turning Point Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 18th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Friday, September 18th. Turning Point Brands's dividend payout ratio is currently 13.73%.

Institutional Investors Weigh In On Turning Point Brands

Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of Turning Point Brands in the second quarter valued at about $137,273,000. Bank of America Corp DE purchased a new stake in shares of Turning Point Brands during the second quarter worth about $47,278,000. Lord Abbett & CO. LLC purchased a new stake in shares of Turning Point Brands during the fourth quarter worth about $28,454,000. Maple Rock Capital Partners Inc. grew its stake in shares of Turning Point Brands by 57.5% in the second quarter. Maple Rock Capital Partners Inc. now owns 686,800 shares of the company's stock worth $58,248,000 after purchasing an additional 250,800 shares during the last quarter. Finally, Madison Avenue Partners LP purchased a new position in Turning Point Brands during the 4th quarter valued at about $26,853,000. Hedge funds and other institutional investors own 96.12% of the company's stock.

Turning Point Brands Company Profile

Turning Point Brands, Inc NYSE: TPB is a U.S.-based consumer products company focused on the manufacture, marketing and distribution of smokeless tobacco, vaping and cigar products. Headquartered in Old Hickory, Tennessee, the company serves retail outlets across all 50 states through a direct-store-delivery network and select third-party distributors. Turning Point Brands operates two reporting segments—Smokeless Products and Cigar—and leverages its logistics capabilities to offer a broad portfolio of brands and SKUs.

In its Smokeless Products segment, Turning Point Brands produces moist smokeless tobacco under leading brand names such as Grizzly, Kodiak and Stoker's.

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