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

Key Points

• Wall Street Zen raised Turning Point Brands from “strong sell” to “sell”, though the stock still carries a mixed analyst picture overall with a Moderate Buy consensus and an average target price of $113.50.
• The company reported better-than-expected quarterly results, posting EPS of $0.76 versus estimates of $0.68 and revenue of $124.28 million versus expectations of $115.67 million, with revenue up 16.8% year over year.
• Turning Point Brands shares were trading up 4.4% at $76.30, still well below the stock’s 52-week high of $146.90; the company also saw insider selling and notable institutional ownership of 96.12%.

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

Other equities analysts have also recently issued research reports about the stock. BTIG Research assumed coverage on shares of Turning Point Brands in a research report on Tuesday. They set a "buy" rating and a $103.00 price target on the stock. Compass Point set a $103.00 price objective on Turning Point Brands in a report on Tuesday. Weiss Ratings cut 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 Turning Point Brands from a "hold" rating to a "buy" rating and set a $125.00 target price on the stock in a report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Turning Point Brands currently has an average rating of "Moderate Buy" and an average target price of $113.50.

Turning Point Brands Trading Up 4.4%

TPB opened at $76.30 on Friday. The stock has a market capitalization of $1.48 billion, a PE ratio of 25.95 and a beta of 0.92. The firm's fifty day moving average price is $84.14 and its 200 day moving average price is $95.48. The company has a debt-to-equity ratio of 0.76, a current ratio of 5.87 and a quick ratio of 4.05. Turning Point Brands has a 12-month low of $65.80 and a 12-month high of $146.90.

Turning Point Brands (NYSE:TPB - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.08. The company had revenue of $124.28 million during the quarter, compared to analyst estimates of $115.67 million. Turning Point Brands had a net margin of 11.53% and a return on equity of 16.54%. The firm's revenue for the quarter was up 16.8% compared to the same quarter last year. During the same period last year, the business earned $0.91 EPS. As a group, research analysts expect that Turning Point Brands will post 1.39 EPS for the current fiscal year.

Insider Activity

In other news, CAO Brian Wigginton sold 4,000 shares of the firm's stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $91.67, for a total value of $366,680.00. Following the transaction, the chief accounting officer directly owned 9,230 shares in the company, valued at approximately $846,114.10. This trade represents a 30.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 5.40% of the company's stock.

Hedge Funds Weigh In On Turning Point Brands

A number of large investors have recently bought and sold shares of TPB. SWP Investment Management LLC bought a new position in shares of Turning Point Brands during the second quarter valued at approximately $2,174,000. Militia Capital Management LLC acquired a new position in Turning Point Brands during the 1st quarter valued at approximately $3,472,000. Norris Financial Group LLC acquired a new position in Turning Point Brands during the 1st quarter valued at approximately $4,151,000. Bank of America Corp DE grew its stake in Turning Point Brands by 66.9% during the 1st quarter. Bank of America Corp DE now owns 290,813 shares of the company's stock worth $25,240,000 after buying an additional 116,543 shares during the last quarter. Finally, Riposte Capital LLC grew its stake in Turning Point Brands by 50.0% during the 1st quarter. Riposte Capital LLC now owns 150,000 shares of the company's stock worth $13,018,000 after buying an additional 50,000 shares during the last quarter. 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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