Zacks: Turning Point Brands Inc (TPB) Given Average Rating of “Strong Buy” by Analysts

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 $35.00 for the company and are expecting that the company will post $0.63 EPS for the current quarter, according to Zacks. Zacks has also assigned Turning Point Brands an industry rank of 218 out of 255 based on the ratings given to related companies.

A number of equities analysts have weighed in on TPB shares. B. Riley boosted their price objective on Turning Point Brands from $30.00 to $34.00 and gave the stock a “$32.61” rating in a research note on Wednesday, July 18th. Cowen reissued a “buy” rating on shares of Turning Point Brands in a research note on Friday. Finally, Zacks Investment Research raised Turning Point Brands from a “sell” rating to a “hold” rating in a research note on Thursday, May 3rd.

Shares of TPB traded up $0.25 during trading hours on Tuesday, hitting $33.37. 214,930 shares of the stock were exchanged, compared to its average volume of 101,311. The company has a debt-to-equity ratio of 2.86, a quick ratio of 0.61 and a current ratio of 2.03. Turning Point Brands has a 12-month low of $15.34 and a 12-month high of $34.88. The stock has a market capitalization of $639.67 million, a price-to-earnings ratio of 22.68 and a beta of 0.87.

Turning Point Brands (NYSE:TPB) last released its quarterly earnings data on Wednesday, August 8th. The company reported $0.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.01. The company had revenue of $81.10 million for the quarter, compared to analyst estimates of $82.40 million. Turning Point Brands had a return on equity of 51.44% and a net margin of 7.70%. The firm’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.38 earnings per share. analysts predict that Turning Point Brands will post 1.74 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 12th. Shareholders of record on Friday, September 21st will be paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date is Thursday, September 20th. Turning Point Brands’s dividend payout ratio (DPR) is currently 14.81%.

In other news, major shareholder General L.P. Standard acquired 50,000 shares of the business’s stock in a transaction that occurred on Friday, June 8th. The shares were purchased at an average price of $28.16 per share, for a total transaction of $1,408,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider James Wells Dobbins sold 5,864 shares of the business’s stock in a transaction on Tuesday, June 12th. The shares were sold at an average price of $30.21, for a total value of $177,151.44. The disclosure for this sale can be found here. Insiders own 6.90% of the company’s stock.

Several hedge funds have recently bought and sold shares of TPB. O Shaughnessy Asset Management LLC purchased a new stake in shares of Turning Point Brands in the 1st quarter valued at $234,000. Rhumbline Advisers purchased a new stake in shares of Turning Point Brands in the 2nd quarter valued at $239,000. Citadel Advisors LLC purchased a new stake in shares of Turning Point Brands in the 1st quarter valued at $265,000. Schwab Charles Investment Management Inc. purchased a new stake in shares of Turning Point Brands in the 1st quarter valued at $315,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of Turning Point Brands by 274.7% in the 1st quarter. JPMorgan Chase & Co. now owns 18,035 shares of the company’s stock valued at $350,000 after buying an additional 13,222 shares during the period. Hedge funds and other institutional investors own 20.22% of the company’s stock.

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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