Turning Point Brands (NYSE:TPB) Sets New 1-Year High – Should You Buy?

Turning Point Brands, Inc. (NYSE:TPB)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $137.99 and last traded at $135.9910, with a volume of 223777 shares. The stock had previously closed at $135.52.

Analyst Ratings Changes

TPB has been the topic of several analyst reports. iA Financial set a $110.00 price objective on Turning Point Brands in a research note on Wednesday, November 5th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Turning Point Brands in a research note on Tuesday, December 23rd. Wall Street Zen downgraded shares of Turning Point Brands from a “buy” rating to a “hold” rating in a research note on Saturday, January 17th. Oppenheimer reaffirmed an “outperform” rating and issued a $130.00 target price on shares of Turning Point Brands in a report on Wednesday, January 14th. Finally, Alliance Global Partners boosted their price target on shares of Turning Point Brands from $103.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Three research 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, the company presently has an average rating of “Moderate Buy” and an average price target of $116.67.

Turning Point Brands Stock Performance

The stock has a 50 day moving average price of $117.83 and a two-hundred day moving average price of $104.49. The company has a debt-to-equity ratio of 0.82, a current ratio of 5.56 and a quick ratio of 3.98. The company has a market capitalization of $2.59 billion, a price-to-earnings ratio of 47.88 and a beta of 0.87.

Insider Transactions at Turning Point Brands

In other news, Chairman David Edward Glazek sold 30,000 shares of the firm’s stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $110.26, for a total value of $3,307,800.00. Following the transaction, the chairman owned 127,083 shares of the company’s stock, valued at approximately $14,012,171.58. This trade represents a 19.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director H.C. Charles Diao sold 2,000 shares of the stock in a transaction that occurred on 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 transaction, the director owned 9,804 shares in the company, valued at $1,060,792.80. This represents a 16.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On Turning Point Brands

Several hedge funds have recently made changes to their positions in TPB. First Horizon Corp bought a new stake in shares of Turning Point Brands in the third quarter worth $25,000. Kemnay Advisory Services Inc. acquired a new stake in Turning Point Brands in the 4th quarter valued at $27,000. Empowered Funds LLC bought a new stake in Turning Point Brands during the 4th quarter worth about $27,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Turning Point Brands in the 3rd quarter valued at about $28,000. Finally, Advisory Services Network LLC acquired a new stake in shares of Turning Point Brands in the third quarter valued at about $28,000. 96.12% of the stock is owned by institutional investors.

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.