Turning Point Brands (NYSE:TPB) Downgraded to Strong Sell Rating by Wall Street Zen

Wall Street Zen lowered shares of Turning Point Brands (NYSE:TPB) from a sell rating to a strong sell rating in a research note issued to investors on Sunday morning.

Other analysts have also issued reports about the stock. BTIG Research initiated coverage on shares of Turning Point Brands in a research note on Tuesday, July 21st. They set a “buy” rating and a $103.00 target price for the company. Needham & Company LLC raised shares of Turning Point Brands from a “hold” rating to a “buy” rating and set a $125.00 price target on the stock in a research note on Friday, May 8th. Compass Point set a $103.00 price objective on shares of Turning Point Brands in a report on Tuesday, July 21st. Finally, Weiss Ratings lowered shares of Turning Point Brands from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, June 2nd. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Turning Point Brands presently has a consensus rating of “Moderate Buy” and an average target price of $113.50.

Turning Point Brands Trading Up 0.4%

Shares of NYSE TPB opened at $74.90 on Friday. Turning Point Brands has a fifty-two week low of $65.80 and a fifty-two week high of $146.90. The company has a debt-to-equity ratio of 0.76, a quick ratio of 4.05 and a current ratio of 5.87. The company has a market cap of $1.45 billion, a price-to-earnings ratio of 25.48 and a beta of 0.92. The business’s 50 day moving average price is $82.88 and its 200-day moving average price is $94.39.

Turning Point Brands (NYSE:TPB) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.08. The company had revenue of $124.28 million during the quarter, compared to analysts’ expectations of $115.67 million. Turning Point Brands had a return on equity of 16.54% and a net margin of 11.53%.Turning Point Brands’s revenue was up 16.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.91 EPS. On average, sell-side analysts expect that Turning Point Brands will post 1.39 earnings per share for the current year.

Turning Point Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 18th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Friday, September 18th. Turning Point Brands’s payout ratio is presently 10.88%.

Insiders Place Their Bets

In other Turning Point Brands news, CAO Brian Wigginton sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $91.67, for a total transaction of $366,680.00. Following the transaction, the chief accounting officer owned 9,230 shares of the company’s stock, valued at approximately $846,114.10. This trade represents a 30.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Turning Point Brands

Several hedge funds have recently modified their holdings of TPB. Covestor Ltd lifted its holdings in Turning Point Brands by 16.3% during the fourth quarter. Covestor Ltd now owns 663 shares of the company’s stock worth $72,000 after buying an additional 93 shares during the period. Osaic Holdings Inc. boosted its position in Turning Point Brands by 5.5% during the 4th quarter. Osaic Holdings Inc. now owns 1,888 shares of the company’s stock valued at $205,000 after acquiring an additional 98 shares in the last quarter. CWM LLC increased its holdings in shares of Turning Point Brands by 6.2% in the 4th quarter. CWM LLC now owns 2,706 shares of the company’s stock valued at $293,000 after acquiring an additional 157 shares during the period. Boston Partners increased its holdings in shares of Turning Point Brands by 1.5% in the 3rd quarter. Boston Partners now owns 13,712 shares of the company’s stock valued at $1,356,000 after acquiring an additional 206 shares during the period. Finally, First Horizon Corp raised its position in shares of Turning Point Brands by 96.0% in the 4th quarter. First Horizon Corp now owns 492 shares of the company’s stock worth $53,000 after acquiring an additional 241 shares in the last quarter. Hedge funds and other institutional investors own 96.12% of the company’s stock.

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.