Turning Point Brands, Inc. (NYSE:TPB) Receives $116.67 Average Target Price from Brokerages
by Kim Johansen · The Markets DailyShares of Turning Point Brands, Inc. (NYSE:TPB – Get Free Report) have earned a consensus recommendation of “Hold” from the five brokerages that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $116.6667.
A number of equities analysts recently commented on the company. Wall Street Zen downgraded Turning Point Brands from a “buy” rating to a “hold” rating in a report on Saturday, January 17th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Turning Point Brands in a research note on Tuesday, December 23rd. Zacks Research downgraded shares of Turning Point Brands from a “hold” rating to a “strong sell” rating in a research report on Monday, March 2nd. Finally, Oppenheimer restated an “outperform” rating and set a $130.00 price target on shares of Turning Point Brands in a research note on Wednesday, January 14th.
Turning Point Brands Stock Performance
Shares of TPB stock opened at $71.00 on Friday. Turning Point Brands has a fifty-two week low of $57.01 and a fifty-two week high of $146.90. The stock’s 50-day moving average is $98.29 and its two-hundred day moving average is $102.14. The company has a debt-to-equity ratio of 0.79, a current ratio of 5.56 and a quick ratio of 4.12. The firm has a market cap of $1.37 billion, a P/E ratio of 22.68 and a beta of 1.02.
Turning Point Brands Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, April 10th. Shareholders of record on Friday, March 20th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, March 20th. This is a positive change from Turning Point Brands’s previous quarterly dividend of $0.08. This represents a $0.32 annualized dividend and a yield of 0.5%. Turning Point Brands’s dividend payout ratio (DPR) is currently 10.22%.
Insiders Place Their Bets
In other Turning Point Brands news, CFO Andrew Flynn sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $97.57, for a total transaction of $195,140.00. Following the transaction, the chief financial officer directly owned 9,443 shares in the company, valued at $921,353.51. This trade represents a 17.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 5.40% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Turning Point Brands
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. First Horizon Corp bought a new stake in Turning Point Brands during the third quarter worth approximately $25,000. Kemnay Advisory Services Inc. acquired a new stake in shares of Turning Point Brands in the fourth quarter worth $27,000. Empowered Funds LLC acquired a new stake in shares of Turning Point Brands in the fourth quarter worth $27,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Turning Point Brands during the 3rd quarter worth $28,000. Finally, Advisory Services Network LLC bought a new stake in shares of Turning Point Brands during the 3rd quarter worth $28,000. 96.12% of the stock is currently owned by institutional investors and hedge funds.
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.