“TPB reported 1Q17 net sales of $66.8M, slightly above FBR’s estimate of $66.3M. GM de-leveraged –684 bps vs. FBR’s estimate of –336 bps. The adjusted SGA margin leveraged +208 bps vs. our estimate of +225 bps. Adjusted 1Q reported EBITDA were $13.6M, compared to FBR’s $16.0M estimate. Adjusted 1Q EPS were $0.52, compared to FBR’s $0.58 estimate. On the call, management reiterated confidence in its ability to grow via acquisitions, and we believe additional acquisitions are likely in the future. TPB also continues to roll out MST cans and gained just under 1,000 stores in 1Q17, mainly through additional independent stores. TPB expects to begin expanding into chain stores, but the expansion could be lumpy given uncertainty on timing of products shipped to stores. We expect continued growth through acquisitions, MST cans, and Zig-Zag papers, coupled with solid FCF generation, to continue to drive the stock higher.”,” the firm’s analyst commented.
Separately, Zacks Investment Research upgraded Turning Point Brands from a hold rating to a buy rating and set a $16.00 price target on the stock in a research note on Saturday, March 18th.
Turning Point Brands (NYSE:TPB) opened at 15.41 on Friday. The firm has a market cap of $289.99 million and a price-to-earnings ratio of 10.34. The firm has a 50-day moving average price of $15.86 and a 200-day moving average price of $14.11. Turning Point Brands has a 1-year low of $6.46 and a 1-year high of $18.05.
Turning Point Brands (NYSE:TPB) last posted its quarterly earnings data on Thursday, May 11th. The company reported $0.29 EPS for the quarter, missing the Zacks’ consensus estimate of $0.32 by $0.03. The business had revenue of $66.80 million during the quarter, compared to analysts’ expectations of $64.90 million. During the same quarter in the previous year, the business posted $0.12 EPS. Turning Point Brands’s revenue for the quarter was up 33.9% on a year-over-year basis. On average, analysts expect that Turning Point Brands will post $1.32 earnings per share for the current fiscal year.
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Several institutional investors have recently modified their holdings of TPB. Western Standard LLC acquired a new position in shares of Turning Point Brands during the first quarter valued at about $750,000. potrero capital research llc acquired a new position in shares of Turning Point Brands during the first quarter valued at about $356,000. Renaissance Technologies LLC acquired a new position in shares of Turning Point Brands during the first quarter valued at about $658,000. Geode Capital Management LLC raised its position in shares of Turning Point Brands by 4.0% in the first quarter. Geode Capital Management LLC now owns 39,231 shares of the company’s stock valued at $612,000 after buying an additional 1,500 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Turning Point Brands by 0.5% in the first quarter. Vanguard Group Inc. now owns 252,293 shares of the company’s stock valued at $3,936,000 after buying an additional 1,276 shares during the last quarter. Institutional investors own 68.45% of the company’s stock.
Turning Point Brands Company Profile
Turning Point Brands, Inc is an independent provider of Other Tobacco Products (OTP) in the United States. The Company operates in three segments smokeless products, smoking products and NewGen products. The smokeless products segment manufactures and markets moist snuff; and contracts for and markets chewing tobacco products.
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