Turning Point Brands (NYSE:TPB) Hits New 52-Week High – Still a Buy?

Turning Point Brands, Inc. (NYSE:TPB) shares hit a new 52-week high on Wednesday . The company traded as high as $135.66 and last traded at $136.35, with a volume of 13323 shares traded. The stock had previously closed at $132.62.

Wall Street Analyst Weigh In

Several research firms recently commented on TPB. Oppenheimer restated an “outperform” rating and issued a $130.00 price target on shares of Turning Point Brands in a research note on Wednesday, January 14th. Zacks Research cut shares of Turning Point Brands from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Wall Street Zen cut shares of Turning Point Brands from a “buy” rating to a “hold” rating in a research report on Saturday, January 17th. Alliance Global Partners raised their target price 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. Finally, iA Financial set a $110.00 target price on Turning Point Brands in a report on Wednesday, November 5th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $116.67.

Turning Point Brands Stock Up 0.2%

The company’s 50 day simple moving average is $115.55 and its 200-day simple moving average is $103.17. The company has a debt-to-equity ratio of 0.82, a quick ratio of 3.98 and a current ratio of 5.56. The firm has a market capitalization of $2.53 billion, a PE ratio of 46.79 and a beta of 0.87.

Insider Transactions at Turning Point Brands

In related news, Director H.C. Charles Diao sold 2,000 shares of the stock in a transaction 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 transaction, the director owned 9,804 shares of the company’s stock, valued at approximately $1,060,792.80. This trade represents a 16.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman David Edward Glazek sold 30,000 shares of the business’s stock in a transaction on Friday, December 19th. The stock was sold at an average price of $110.26, for a total transaction of $3,307,800.00. Following the completion of the sale, the chairman directly owned 127,083 shares of the company’s stock, valued at $14,012,171.58. This represents a 19.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 33,500 shares of company stock worth $3,671,545. 6.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Turning Point Brands

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Turning Point Brands by 4.4% in the fourth quarter. Vanguard Group Inc. now owns 1,451,394 shares of the company’s stock valued at $157,331,000 after acquiring an additional 61,311 shares in the last quarter. Divisadero Street Capital Management LP increased its holdings in shares of Turning Point Brands by 3.2% in the third quarter. Divisadero Street Capital Management LP now owns 974,066 shares of the company’s stock worth $96,296,000 after purchasing an additional 30,282 shares during the last quarter. ArrowMark Colorado Holdings LLC raised its position in Turning Point Brands by 28.9% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 869,747 shares of the company’s stock valued at $94,281,000 after purchasing an additional 194,938 shares during the period. Thrivent Financial for Lutherans boosted its stake in Turning Point Brands by 4.8% during the fourth quarter. Thrivent Financial for Lutherans now owns 847,050 shares of the company’s stock worth $91,820,000 after buying an additional 38,437 shares during the period. Finally, Geode Capital Management LLC increased its position in Turning Point Brands by 5.5% during the fourth quarter. Geode Capital Management LLC now owns 541,667 shares of the company’s stock valued at $58,728,000 after acquiring an additional 28,463 shares during the last quarter. 96.12% of the stock is owned by hedge funds and other 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.