FBR & Co reiterated their buy rating on shares of Turning Point Brands, Inc. (NYSE:TPB) in a research report report published on Monday morning. They currently have a $17.00 target price on the stock.

“Last week we hosted upbeat meetings with Chief Executive Officer Larry Wexler, Chief Financial Officer Mark Stegeman and SVP of Business Planning Jim Murray. Management sounded positive on the market outlook across the three OTP (other tobacco products) categories and on their recent acquisitions of VaporBeast and Vapor Shark. We believe there is significant room to run for TPB in the vapor market as they integrate Vapor Beast and begin to realize operating efficiencies. We expect continued growth through acquisitions, MST cans, and Zig-Zag papers, coupled with solid FCF generation, to continue to drive the stock higher.”,” FBR & Co’s analyst wrote.

Several other analysts have also issued reports on TPB. Zacks Investment Research upgraded shares of Turning Point Brands from a sell rating to a hold rating in a research report on Tuesday, September 26th. Cowen and Company restated a buy rating and set a $20.00 target price on shares of Turning Point Brands in a research report on Sunday, September 17th.

Shares of Turning Point Brands (TPB) opened at 17.40 on Monday. The stock has a market capitalization of $331.10 million, a PE ratio of 10.93 and a beta of 0.18. The company’s 50 day moving average is $16.98 and its 200-day moving average is $16.03. Turning Point Brands has a 52 week low of $11.67 and a 52 week high of $18.05.

Turning Point Brands (NYSE:TPB) last announced its quarterly earnings results on Thursday, August 10th. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. Turning Point Brands had a net margin of 13.62% and a return on equity of 114.77%. The firm 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 business posted $0.05 earnings per share. The business’s revenue for the quarter was up 39.7% on a year-over-year basis. On average, equities analysts predict that Turning Point Brands will post $1.28 earnings per share for the current year.

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In related news, insider James Wells Dobbins sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $16.04, for a total transaction of $96,240.00. Following the completion of the sale, the insider now directly owns 90,041 shares in the company, valued at $1,444,257.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP James Michael Murray sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $16.15, for a total transaction of $48,450.00. Following the sale, the vice president now owns 19,629 shares of the company’s stock, valued at $317,008.35. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 203,303 shares of company stock valued at $3,415,466 and have sold 21,002 shares valued at $347,884. Insiders own 14.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Argent Capital Management LLC bought a new stake in Turning Point Brands during the second quarter valued at approximately $2,552,000. State Street Corp grew its position in Turning Point Brands by 5.8% during the second quarter. State Street Corp now owns 84,823 shares of the company’s stock valued at $1,301,000 after buying an additional 4,663 shares during the period. Northern Right Capital Management L.P. grew its position in Turning Point Brands by 13.3% during the second quarter. Northern Right Capital Management L.P. now owns 365,308 shares of the company’s stock valued at $5,604,000 after buying an additional 42,800 shares during the period. Vanguard Group Inc. grew its position in Turning Point Brands by 1.1% during the second quarter. Vanguard Group Inc. now owns 255,127 shares of the company’s stock valued at $3,914,000 after buying an additional 2,834 shares during the period. Finally, D.A. Davidson & CO. bought a new stake in Turning Point Brands during the second quarter valued at approximately $413,000. Institutional investors own 15.85% 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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