Turning Point Brands (NYSE:TPB) Sets New 1-Year High – What’s Next?

Turning Point Brands, Inc. (NYSE:TPB) shares hit a new 52-week high on Wednesday . The company traded as high as $135.66 and last traded at $136.35, with a volume of 13323 shares trading hands. The stock had previously closed at $132.62.

Analysts Set New Price Targets

Several analysts have commented on the stock. Zacks Research lowered shares of Turning Point Brands from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Alliance Global Partners increased their target price on Turning Point Brands from $103.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. iA Financial set a $110.00 target price on Turning Point Brands in a research note on Wednesday, November 5th. Oppenheimer restated an “outperform” rating and set a $130.00 price target on shares of Turning Point Brands in a research report on Wednesday, January 14th. Finally, Wall Street Zen downgraded Turning Point Brands from a “buy” rating to a “hold” rating in a report on Saturday, January 17th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Turning Point Brands has an average rating of “Moderate Buy” and a consensus target price of $116.67.

Turning Point Brands Stock Performance

The company has a debt-to-equity ratio of 0.82, a quick ratio of 3.98 and a current ratio of 5.56. The stock has a market capitalization of $2.58 billion, a P/E ratio of 47.72 and a beta of 0.87. The business has a 50-day moving average price of $117.30 and a 200 day moving average price of $103.95.

Insider Buying and Selling at Turning Point Brands

In other Turning Point Brands news, Director H.C. Charles Diao sold 2,000 shares of the firm’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $108.20, for a total transaction of $216,400.00. Following the completion of the sale, the director directly owned 9,804 shares in the company, valued at approximately $1,060,792.80. This trade represents a 16.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman David Edward Glazek sold 30,000 shares of Turning Point Brands stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $110.26, for a total transaction of $3,307,800.00. Following the completion of the transaction, the chairman directly owned 127,083 shares of the company’s stock, valued at $14,012,171.58. This trade represents a 19.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 6.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Turning Point Brands

A number of hedge funds have recently added to or reduced their stakes in TPB. Vanguard Group Inc. boosted its stake in Turning Point Brands by 4.4% during the 4th quarter. Vanguard Group Inc. now owns 1,451,394 shares of the company’s stock valued at $157,331,000 after purchasing an additional 61,311 shares during the last quarter. Divisadero Street Capital Management LP boosted its position in shares of Turning Point Brands by 3.2% during the third quarter. Divisadero Street Capital Management LP now owns 974,066 shares of the company’s stock valued at $96,296,000 after buying an additional 30,282 shares during the last quarter. ArrowMark Colorado Holdings LLC increased its holdings in Turning Point Brands by 28.9% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 869,747 shares of the company’s stock worth $94,281,000 after buying an additional 194,938 shares in the last quarter. Thrivent Financial for Lutherans increased its holdings in Turning Point Brands by 4.8% in the 4th quarter. Thrivent Financial for Lutherans now owns 847,050 shares of the company’s stock worth $91,820,000 after buying an additional 38,437 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Turning Point Brands by 5.5% in the 4th quarter. Geode Capital Management LLC now owns 541,667 shares of the company’s stock worth $58,728,000 after buying an additional 28,463 shares during the last quarter. 96.12% of the stock is currently owned by hedge funds and other institutional investors.

About Turning Point Brands

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.