Positive Press Coverage Somewhat Unlikely to Affect Turning Point Brands (TPB) Stock Price
News articles about Turning Point Brands (NYSE:TPB) have been trending positive this week, Accern reports. The research firm identifies negative and positive news coverage by reviewing more than 20 million blog and news sources in real-time. Accern ranks coverage of companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Turning Point Brands earned a coverage optimism score of 0.29 on Accern’s scale. Accern also assigned media stories about the company an impact score of 44.8545567152493 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the near future.
Shares of Turning Point Brands (TPB) traded up 1.35% during midday trading on Friday, hitting $17.27. The company’s stock had a trading volume of 34,075 shares. The stock’s 50 day moving average is $17.02 and its 200-day moving average is $16.05. Turning Point Brands has a 52-week low of $11.67 and a 52-week high of $18.05. The firm has a market cap of $328.63 million, a P/E ratio of 10.85 and a beta of 0.18.
Turning Point Brands (NYSE:TPB) last issued its earnings results on Thursday, August 10th. The company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. Turning Point Brands had a return on equity of 76.79% and a net margin of 9.55%. The business had revenue of $72.10 million during the quarter, compared to analyst estimates of $67.35 million. During the same period in the previous year, the company posted $0.05 EPS. The firm’s revenue was up 39.7% compared to the same quarter last year. Equities analysts predict that Turning Point Brands will post $1.28 EPS for the current fiscal year.
TPB has been the topic of a number of research analyst reports. Cowen and Company reaffirmed a “buy” rating and issued a $20.00 target price on shares of Turning Point Brands in a report on Sunday, September 17th. FBR & Co reaffirmed a “buy” rating and issued a $17.00 target price on shares of Turning Point Brands in a report on Monday. Finally, Zacks Investment Research raised Turning Point Brands from a “sell” rating to a “hold” rating in a report on Tuesday, September 26th.
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In related news, insider James Wells Dobbins sold 6,000 shares of the business’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $16.04, for a total value of $96,240.00. Following the completion of the sale, the insider now directly owns 90,041 shares of the company’s stock, valued at approximately $1,444,257.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder General L.P. Standard bought 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The stock was purchased at an average cost of $17.09 per share, with a total value of $1,709,000.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 203,303 shares of company stock valued at $3,415,466 and sold 21,002 shares valued at $347,884. Insiders own 14.20% of the company’s stock.
About Turning Point Brands
Turning Point Brands, Inc is an independent provider of Other Tobacco Products (OTP) in the United States. The Company operates in three segments smokeless products, smoking products and NewGen products. The smokeless products segment manufactures and markets moist snuff; and contracts for and markets chewing tobacco products.
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