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

Key Points

• Turning Point Brands, Inc. has received a consensus recommendation of "Buy" from seven research firms, with a target price averaging $78.83.
• The company recently reported earnings of $0.98 per share, exceeding analysts' expectations and signifying a year-over-year revenue increase of 25.1%.
• A quarterly dividend of $0.075 per share has been declared, reflecting an annual yield of 0.3%, set to be paid on October 10th.

Turning Point Brands, Inc. (NYSE:TPB - Get Free Report) has received a consensus rating of "Buy" from the seven research firms that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $78.8333.

A number of research firms have recently commented on TPB. Oppenheimer increased their target price 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. Wall Street Zen downgraded Turning Point Brands from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Finally, Needham & Company LLC assumed coverage on Turning Point Brands in a research report on Friday, August 1st. They issued a "hold" rating for the company.

Insider Activity

In other news, Director Stephen Usher sold 600 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $75.25, for a total transaction of $45,150.00. Following the transaction, the director owned 6,175 shares in the company, valued at approximately $464,668.75. This trade represents a 8.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Lawrence Wexler sold 25,000 shares of the firm's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $75.94, for a total value of $1,898,500.00. Following the transaction, the director owned 330,186 shares in the company, valued at approximately $25,074,324.84. This represents a 7.04% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 110,300 shares of company stock valued at $8,291,282. Company insiders own 6.60% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Divisadero Street Capital Management LP increased its position in shares of Turning Point Brands by 187.5% in the second quarter. Divisadero Street Capital Management LP now owns 943,784 shares of the company's stock valued at $71,511,000 after buying an additional 615,521 shares in the last quarter. Maple Rock Capital Partners Inc. purchased a new stake in shares of Turning Point Brands during the second quarter worth approximately $18,458,000. 4D Advisors LLC increased its position in shares of 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 purchasing an additional 127,000 shares in the last quarter. SG Americas Securities LLC grew its holdings in Turning Point Brands by 1,369.7% in the 2nd quarter. SG Americas Securities LLC now owns 123,648 shares of the company's stock valued at $9,369,000 after buying an additional 115,235 shares in the last quarter. Finally, Northern Right Capital Management L.P. lifted its stake in shares of Turning Point Brands by 356.6% in the 4th quarter. Northern Right Capital Management L.P. now owns 134,354 shares of the company's stock valued at $8,075,000 after purchasing an additional 104,931 shares during the last quarter. 96.12% of the stock is owned by institutional investors and hedge funds.

Turning Point Brands Stock Performance

Shares of NYSE TPB traded down $1.06 during midday trading on Tuesday, hitting $98.28. 85,594 shares of the company's stock traded hands, compared to its average volume of 267,140. Turning Point Brands has a 1 year low of $38.08 and a 1 year high of $102.90. The stock has a market capitalization of $1.77 billion, a price-to-earnings ratio of 41.23 and a beta of 0.66. The company has a debt-to-equity ratio of 1.30, a quick ratio of 2.64 and a current ratio of 4.22. The firm has a fifty day moving average of $79.19 and a 200 day moving average of $69.58.

Turning Point Brands (NYSE:TPB - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $116.63 million during the quarter, compared to analyst estimates of $107.30 million. During the same period in the prior year, the firm posted $0.68 EPS. The firm's quarterly revenue was up 25.1% compared to the same quarter last year. On average, analysts forecast that Turning Point Brands will post 2.59 earnings per share 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 paid a dividend of $0.075 per share. The ex-dividend date is Friday, September 19th. This represents a $0.30 annualized dividend and a dividend yield of 0.3%. Turning Point Brands's dividend payout ratio (DPR) is currently 12.55%.

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.