Turning Point Brands’ (TPB) “Buy” Rating Reaffirmed at B. Riley
B. Riley reaffirmed their buy rating on shares of Turning Point Brands, Inc. (NYSE:TPB) in a research note issued to investors on Friday. They currently have a $20.00 price target on the stock. B. Riley also issued estimates for Turning Point Brands’ Q3 2017 earnings at $0.37 EPS, Q4 2017 earnings at $0.33 EPS, FY2017 earnings at $1.14 EPS and FY2018 earnings at $1.39 EPS.
Several other research analysts have also issued reports on the stock. Zacks Investment Research upgraded shares of Turning Point Brands from a sell rating to a hold rating in a research report on Tuesday, July 18th. Cowen and Company reiterated a buy rating and issued a $19.00 target price on shares of Turning Point Brands in a research report on Thursday, August 3rd. Finally, FBR & Co restated a buy rating and set a $17.00 price target on shares of Turning Point Brands in a research report on Monday, October 2nd.
Turning Point Brands (NYSE TPB) opened at $15.88 on Friday. Turning Point Brands has a 1 year low of $11.67 and a 1 year high of $18.99. The stock has a market cap of $302.18 and a price-to-earnings ratio of 8.09. The company has a debt-to-equity ratio of 3.77, a current ratio of 1.81 and a quick ratio of 0.37.
Turning Point Brands (NYSE:TPB) last announced its earnings results on Thursday, November 9th. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.06). Turning Point Brands had a return on equity of 93.53% and a net margin of 12.70%. The company had revenue of $73.30 million during the quarter, compared to analysts’ expectations of $71.15 million. During the same quarter last year, the firm posted $0.34 earnings per share. The firm’s revenue was up 43.9% on a year-over-year basis. analysts predict that Turning Point Brands will post 1.13 EPS for the current fiscal year.
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The firm also recently declared an annual dividend, which will be paid on Friday, December 15th. Shareholders of record on Monday, November 27th will be given a dividend of $0.04 per share. The ex-dividend date of this dividend is Friday, November 24th.
In other Turning Point Brands news, major shareholder General L.P. Standard purchased 100,000 shares of the business’s stock in a transaction on Wednesday, August 16th. The stock was acquired at an average cost of $16.52 per share, for a total transaction of $1,652,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James Wells Dobbins sold 12,002 shares of the company’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $16.93, for a total transaction of $203,193.86. Following the sale, the insider now owns 96,043 shares of the company’s stock, valued at $1,626,007.99. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 203,303 shares of company stock valued at $3,415,466. Company insiders own 14.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Northern Right Capital Management L.P. boosted its position in Turning Point Brands by 13.3% during the second quarter. Northern Right Capital Management L.P. now owns 365,308 shares of the company’s stock valued at $5,604,000 after buying an additional 42,800 shares during the period. Vanguard Group Inc. raised its stake in shares of Turning Point Brands by 1.1% during the second quarter. Vanguard Group Inc. now owns 255,127 shares of the company’s stock valued at $3,914,000 after acquiring an additional 2,834 shares during the last quarter. Argent Capital Management LLC bought a new position in shares of Turning Point Brands during the second quarter valued at about $2,552,000. State Street Corp raised its stake in shares of Turning Point Brands by 5.8% during the second quarter. State Street Corp now owns 84,823 shares of the company’s stock valued at $1,301,000 after acquiring an additional 4,663 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of Turning Point Brands by 30.2% during the third quarter. Wells Fargo & Company MN now owns 81,278 shares of the company’s stock valued at $1,383,000 after acquiring an additional 18,866 shares during the last quarter. Institutional investors and hedge funds own 15.11% 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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