Zacks: Brokerages Set $45.00 Target Price for Turning Point Brands Inc (TPB)

Turning Point Brands Inc (NYSE:TPB) has received a consensus broker rating score of 1.00 (Strong Buy) from the two brokers that cover the company, Zacks Investment Research reports. Two analysts have rated the stock with a strong buy recommendation.

Brokerages have set a twelve-month consensus price objective of $45.00 for the company and are expecting that the company will post $0.62 EPS for the current quarter, according to Zacks. Zacks has also assigned Turning Point Brands an industry rank of 120 out of 257 based on the ratings given to related companies.

A number of equities research analysts recently weighed in on the company. B. Riley raised their price objective on Turning Point Brands from $30.00 to $34.00 and gave the company a “$32.61” rating in a research report on Wednesday, July 18th. Zacks Investment Research raised Turning Point Brands from a “hold” rating to a “buy” rating and set a $47.00 price objective on the stock in a research report on Wednesday, November 7th. Finally, Cowen reaffirmed a “buy” rating on shares of Turning Point Brands in a research report on Friday, August 10th.

TPB stock traded down $1.67 during trading on Monday, reaching $35.57. 79,800 shares of the company traded hands, compared to its average volume of 94,500. Turning Point Brands has a 12 month low of $15.52 and a 12 month high of $47.00. The company has a market cap of $728.00 million, a P/E ratio of 33.15 and a beta of 0.69. The company has a debt-to-equity ratio of 2.45, a current ratio of 1.75 and a quick ratio of 0.55.

Turning Point Brands (NYSE:TPB) last issued its quarterly earnings data on Wednesday, November 7th. The company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.05). Turning Point Brands had a net margin of 7.64% and a return on equity of 48.99%. The company had revenue of $83.30 million for the quarter, compared to the consensus estimate of $84.10 million. During the same period in the previous year, the business earned $0.38 EPS. Turning Point Brands’s revenue for the quarter was up 13.6% compared to the same quarter last year. On average, analysts anticipate that Turning Point Brands will post 1.94 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 11th. Investors of record on Friday, December 21st will be given a dividend of $0.045 per share. The ex-dividend date of this dividend is Thursday, December 20th. This represents a $0.18 dividend on an annualized basis and a yield of 0.51%. This is an increase from Turning Point Brands’s previous quarterly dividend of $0.04. Turning Point Brands’s dividend payout ratio (DPR) is presently 14.81%.

In other Turning Point Brands news, VP James Michael Murray sold 1,000 shares of the firm’s stock in a transaction dated Thursday, August 30th. The stock was sold at an average price of $33.44, for a total value of $33,440.00. Following the completion of the sale, the vice president now owns 24,046 shares of the company’s stock, valued at $804,098.24. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder General L.P. Standard purchased 153,079 shares of the stock in a transaction on Wednesday, September 5th. The stock was acquired at an average cost of $34.60 per share, with a total value of $5,296,533.40. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 67,547 shares of company stock worth $2,497,905. 6.90% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of TPB. BlackRock Inc. boosted its holdings in Turning Point Brands by 43.6% in the third quarter. BlackRock Inc. now owns 546,550 shares of the company’s stock worth $22,659,000 after acquiring an additional 166,063 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Turning Point Brands by 36.5% in the second quarter. Renaissance Technologies LLC now owns 336,762 shares of the company’s stock worth $10,743,000 after acquiring an additional 90,062 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Turning Point Brands in the second quarter worth about $2,633,000. Dimensional Fund Advisors LP boosted its holdings in Turning Point Brands by 101.5% in the second quarter. Dimensional Fund Advisors LP now owns 163,140 shares of the company’s stock worth $5,204,000 after acquiring an additional 82,182 shares in the last quarter. Finally, Cadence Capital Management LLC acquired a new stake in Turning Point Brands in the second quarter worth about $2,157,000. 27.23% of the stock is owned by institutional investors and hedge funds.

About Turning Point Brands

Turning Point Brands, Inc, together with its subsidiaries, provides other tobacco products primarily in the United States. It operates through three segments: Smokeless Products, Smoking Products, and NewGen Products. The Smokeless Products segment manufactures and markets moist snuff; and contracts for and markets loose leaf chewing tobacco products.

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