Turning Point Brands (NYSE:TPB) Raised to Sell at Wall Street Zen

Key Points

• Wall Street Zen upgraded Turning Point Brands from “strong sell” to “sell,” while the broader analyst consensus remains “Moderate Buy” with an average price target of $113.50.
• TPB opened at $86.80, below the consensus target, and has traded between $65.80 and $146.90 over the past year. The company recently exceeded quarterly earnings and revenue expectations, reporting $0.76 EPS and $124.28 million in revenue.
• Institutional investors own 96.12% of the company’s shares, while an insider recently sold 4,000 shares; the sale reduced that executive’s position by 30.23%.

Turning Point Brands (NYSE:TPB - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "strong sell" rating to a "sell" rating in a report issued on Monday.

A number of other brokerages also recently commented on TPB. Compass Point set a $103.00 price target on Turning Point Brands in a report on Tuesday, July 21st. BTIG Research began coverage on shares of Turning Point Brands in a report on Tuesday, July 21st. They issued a "buy" rating and a $103.00 price target on the stock. Weiss Ratings lowered shares of Turning Point Brands from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, June 2nd. Finally, Needham & Company LLC raised shares of Turning Point Brands from a "hold" rating to a "buy" rating and set a $125.00 price target on the stock in a research report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $113.50.

Turning Point Brands Price Performance

TPB opened at $86.80 on Monday. Turning Point Brands has a twelve month low of $65.80 and a twelve month high of $146.90. The firm has a market cap of $1.68 billion, a price-to-earnings ratio of 37.25 and a beta of 0.92. The company has a current ratio of 5.67, a quick ratio of 4.16 and a debt-to-equity ratio of 0.65. The company has a fifty day simple moving average of $82.38 and a 200 day simple moving average of $93.24.

Turning Point Brands (NYSE:TPB - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.76 EPS for the quarter, topping analysts' consensus estimates of $0.68 by $0.08. The firm had revenue of $124.28 million for the quarter, compared to analyst estimates of $115.67 million. Turning Point Brands had a net margin of 8.78% and a return on equity of 11.35%. The firm's revenue was up 16.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.91 EPS. Equities research analysts expect that Turning Point Brands will post 1.39 EPS for the current fiscal year.

Insider Activity at Turning Point Brands

In related news, CAO Brian Wigginton sold 4,000 shares of the business's stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $91.67, for a total transaction of $366,680.00. Following the completion of the sale, the chief accounting officer owned 9,230 shares of the company's stock, valued at $846,114.10. This represents a 30.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 5.40% of the company's stock.

Hedge Funds Weigh In On Turning Point Brands

Several institutional investors have recently made changes to their positions in TPB. Apis Capital Advisors LLC grew its stake in Turning Point Brands by 186.2% during the 4th quarter. Apis Capital Advisors LLC now owns 164,377 shares of the company's stock worth $17,818,000 after buying an additional 106,948 shares during the last quarter. Copeland Capital Management LLC increased its position in Turning Point Brands by 29,795.8% in the fourth quarter. Copeland Capital Management LLC now owns 204,188 shares of the company's stock worth $22,134,000 after buying an additional 203,505 shares during the period. Bronte Capital Management Pty Ltd. bought a new stake in Turning Point Brands in the fourth quarter valued at $2,642,000. M&T Bank Corp lifted its stake in Turning Point Brands by 712.5% in the fourth quarter. M&T Bank Corp now owns 19,499 shares of the company's stock valued at $2,114,000 after buying an additional 17,099 shares during the last quarter. Finally, AWH Capital L.P. boosted its holdings in shares of Turning Point Brands by 45.1% during the fourth quarter. AWH Capital L.P. now owns 69,450 shares of the company's stock valued at $7,528,000 after acquiring an additional 21,600 shares during the period. 96.12% of the stock is owned by institutional investors.

About Turning Point Brands

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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