Turning Point Brands, Inc. (NYSE:TPB) Stock Has Average Target Price of $109.00

by · The Cerbat Gem

Shares of Turning Point Brands, Inc. (NYSE:TPB – Get Free Report) have been given an average rating of “Moderate Buy” by the six analysts that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $109.00.

TPB has been the subject of a number of research reports. Oppenheimer reduced their price objective on Turning Point Brands from $130.00 to $90.00 and set an “outperform” rating for the company in a research report on Tuesday, September 22nd. Compass Point set a $116.00 target price on Turning Point Brands in a research note on Monday, August 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Turning Point Brands in a research report on Friday, August 28th. BTIG Research reaffirmed a “buy” rating on shares of Turning Point Brands in a research note on Monday, August 10th. Finally, Wall Street Zen raised Turning Point Brands from a “strong sell” rating to a “sell” rating in a research note on Monday, August 10th.

View Our Latest Stock Report on TPB

Hedge Funds Weigh In On Turning Point Brands

Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of Turning Point Brands in the second quarter worth about $137,273,000. Bank of America Corp DE bought a new stake in shares of Turning Point Brands during the 2nd quarter worth about $47,278,000. Maple Rock Capital Partners Inc. boosted its stake in shares of Turning Point Brands by 57.5% during the 2nd quarter. Maple Rock Capital Partners Inc. now owns 686,800 shares of the company’s stock worth $58,248,000 after acquiring an additional 250,800 shares in the last quarter. Madison Avenue Partners LP acquired a new position in shares of Turning Point Brands during the 4th quarter valued at about $26,853,000. Finally, Copeland Capital Management LLC increased its holdings in shares of Turning Point Brands by 99.4% during the 1st quarter. Copeland Capital Management LLC now owns 407,208 shares of the company’s stock valued at $35,342,000 after acquiring an additional 203,020 shares during the last quarter. Institutional investors and hedge funds own 96.12% of the company’s stock.

Turning Point Brands Trading Down 1.5%

Shares of NYSE:TPB opened at $55.39 on Friday. The firm has a fifty day moving average of $72.95 and a two-hundred day moving average of $79.28. The firm has a market capitalization of $1.07 billion, a P/E ratio of 24.13 and a beta of 0.97. Turning Point Brands has a 12-month low of $54.69 and a 12-month high of $146.90. The company has a quick ratio of 4.16, a current ratio of 5.67 and a debt-to-equity ratio of 0.65.

Turning Point Brands (NYSE:TPB – Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.12 by $0.11. Turning Point Brands had a net margin of 8.78% and a return on equity of 11.35%. The business had revenue of $142.96 million for the quarter, compared to analysts’ expectations of $129.56 million. During the same period in the previous year, the company posted $0.98 EPS. Turning Point Brands’s revenue was up 22.6% on a year-over-year basis. On average, equities analysts expect that Turning Point Brands will post 1.19 EPS for the current fiscal year.

Turning Point Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 9th. Investors of record on Friday, September 18th were paid a $0.08 dividend. The ex-dividend date of this dividend was Friday, September 18th. This represents a $0.32 annualized dividend and a dividend yield of 0.6%. Turning Point Brands’s payout ratio is presently 13.73%.

Turning Point Brands Company Profile

(Get Free Report)

Turning Point Brands, Inc is a Louisville, Kentucky-based consumer products company focused primarily on tobacco, nicotine and related products. The company develops, manufactures, markets and distributes products through convenience stores, tobacco shops, mass merchants, e-commerce channels and other retailers in the United States and select international markets.

Its portfolio includes rolling papers, cigar and cigarette wraps, and other smoking accessories sold under the Zig-Zag brand; moist snuff and other smokeless tobacco products marketed under the Stoker’s brand; and modern oral nicotine products, including FRE nicotine pouches.

See Also