Brokerages Set Turning Point Brands, Inc. (NYSE:TPB) Target Price at $102.50

Shares of Turning Point Brands, Inc. (NYSE:TPB) have earned a consensus rating of “Buy” from the six brokerages that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $102.50.

TPB has been the topic of several recent analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of Turning Point Brands in a research report on Thursday, October 30th. Oppenheimer raised their price target on shares of Turning Point Brands from $110.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 19th. Alliance Global Partners increased their target price on shares of Turning Point Brands from $103.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Wall Street Zen downgraded shares of Turning Point Brands from a “buy” rating to a “hold” rating in a research note on Saturday, December 13th. Finally, Industrial Alliance Securities set a $110.00 price target on shares of Turning Point Brands in a research report on Wednesday, November 5th.

Insiders Place Their Bets

In related news, Director Stephen Usher sold 1,000 shares of the stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $101.00, for a total value of $101,000.00. Following the transaction, the director owned 5,175 shares of the company’s stock, valued at $522,675. This represents a 16.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $216,400.00. Following the sale, the director owned 9,804 shares in the company, valued at $1,060,792.80. The trade was a 16.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 66,220 shares of company stock worth $6,650,742. Company insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On Turning Point Brands

Several institutional investors and hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC boosted its holdings in Turning Point Brands by 90.7% during the 2nd quarter. GAMMA Investing LLC now owns 328 shares of the company’s stock valued at $25,000 after acquiring an additional 156 shares during the period. First Horizon Corp purchased a new position in Turning Point Brands in the 3rd quarter worth approximately $25,000. Caitong International Asset Management Co. Ltd bought a new stake in Turning Point Brands in the third quarter valued at approximately $28,000. Advisory Services Network LLC purchased a new stake in shares of Turning Point Brands during the third quarter valued at approximately $28,000. Finally, Briaud Financial Planning Inc purchased a new stake in shares of Turning Point Brands during the second quarter valued at approximately $31,000. Institutional investors own 96.12% of the company’s stock.

Turning Point Brands Stock Performance

Shares of Turning Point Brands stock opened at $109.28 on Monday. The company has a debt-to-equity ratio of 0.82, a current ratio of 5.56 and a quick ratio of 3.98. Turning Point Brands has a one year low of $51.48 and a one year high of $113.31. The business has a 50-day simple moving average of $96.86 and a 200 day simple moving average of $90.43. The firm has a market capitalization of $2.08 billion, a price-to-earnings ratio of 38.48 and a beta of 0.89.

Turning Point Brands (NYSE:TPB) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $1.27 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.46. Turning Point Brands had a net margin of 12.02% and a return on equity of 24.44%. The business had revenue of $118.98 million for the quarter, compared to analysts’ expectations of $111.42 million. During the same quarter last year, the firm earned $0.68 EPS. The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. On average, research analysts anticipate that Turning Point Brands will post 2.59 earnings per share for the current fiscal year.

Turning Point Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Friday, December 19th will be issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Friday, December 19th. Turning Point Brands’s payout ratio is presently 10.56%.

About Turning Point Brands

Turning Point Brands, Inc, together with its subsidiaries, manufactures, markets, and distributes branded consumer products. The company operates through three segments: Zig-Zag Products, Stoker’s Products, and Creative Distribution Solutions. Zig-Zag Products segment markets and distributes rolling papers, tubes, finished cigars, make-your-own cigar wraps, and related products, as well as lighters and other accessories under the Zig-Zag brand.