Brokerages Set Turning Point Brands, Inc. (NYSE:TPB) Price Target at $115.67

Turning Point Brands, Inc. (NYSE:TPB) has earned a consensus rating of “Moderate Buy” from the six analysts that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $115.6667.

TPB has been the topic of a number of research analyst reports. Wall Street Zen raised Turning Point Brands from a “strong sell” rating to a “sell” rating in a research note on Monday, August 10th. BTIG Research reissued a “buy” rating on shares of Turning Point Brands in a research note on Monday, August 10th. Weiss Ratings restated a “hold (c)” rating on shares of Turning Point Brands in a report on Friday, August 28th. Finally, Compass Point set a $116.00 target price on shares of Turning Point Brands in a research note on Monday, August 10th.

Institutional Trading of Turning Point Brands

Several large investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in Turning Point Brands in the 2nd quarter valued at about $137,273,000. First Trust Advisors LP boosted its holdings in shares of Turning Point Brands by 39.6% during the 1st quarter. First Trust Advisors LP now owns 689,905 shares of the company’s stock worth $59,877,000 after purchasing an additional 195,643 shares during the last quarter. Maple Rock Capital Partners Inc. boosted its holdings in shares of Turning Point Brands by 57.5% during the 2nd quarter. Maple Rock Capital Partners Inc. now owns 686,800 shares of the company’s stock worth $58,248,000 after purchasing an additional 250,800 shares during the last quarter. Bank of America Corp DE purchased a new stake in shares of Turning Point Brands in the second quarter valued at approximately $47,278,000. Finally, Copeland Capital Management LLC grew its position in shares of Turning Point Brands by 99.4% in the first quarter. Copeland Capital Management LLC now owns 407,208 shares of the company’s stock valued at $35,342,000 after purchasing an additional 203,020 shares in the last quarter. Hedge funds and other institutional investors own 96.12% of the company’s stock.

Turning Point Brands Trading Down 0.4%

TPB stock opened at $68.35 on Wednesday. The company has a current ratio of 5.67, a quick ratio of 4.16 and a debt-to-equity ratio of 0.65. Turning Point Brands has a 12-month low of $65.80 and a 12-month high of $146.90. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of 29.33 and a beta of 0.94. The business’s 50-day moving average is $79.95 and its 200 day moving average is $83.36.

Turning Point Brands (NYSE:TPB) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.12 by $0.11. Turning Point Brands had a return on equity of 11.35% and a net margin of 8.78%.The company had revenue of $142.96 million during the quarter, compared to analyst estimates of $129.56 million. During the same period in the previous year, the business earned $0.98 EPS. Turning Point Brands’s quarterly revenue was up 22.6% on a year-over-year basis. On average, sell-side analysts anticipate that Turning Point Brands will post 1.23 EPS for the current fiscal year.

Turning Point Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Friday, September 18th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Friday, September 18th. Turning Point Brands’s dividend payout ratio (DPR) is currently 13.73%.

About Turning Point Brands

Turning Point Brands, Inc is a consumer-products company focused on branded products for the tobacco, smoking-accessory and modern oral categories. Its portfolio includes rolling papers, wraps, smokeless tobacco, nicotine pouches and related products marketed under established brands.

The company’s principal brands include Zig-Zag, which offers rolling papers, cones, wraps and smoking accessories; Stoker’s, known for smokeless tobacco products; and FRE, a brand of nicotine pouches. Turning Point Brands also develops and distributes other alternative and specialty products through its brand portfolio.

Turning Point Brands sells its products primarily through convenience stores, tobacco and vape retailers, specialty retailers, distributors, e-commerce channels and other consumer outlets in the United States, with some products available internationally.