Turning Point Brands (TPB) Sets New 1-Year High Following Analyst Upgrade

Turning Point Brands Inc (NYSE:TPB)’s share price hit a new 52-week high during trading on Monday after B. Riley raised their price target on the stock from $35.00 to $45.00. B. Riley currently has a buy rating on the stock. Turning Point Brands traded as high as $44.45 and last traded at $43.92, with a volume of 9802 shares. The stock had previously closed at $39.18.

Separately, Cowen restated a “buy” rating on shares of Turning Point Brands in a research note on Friday, August 10th.

In other news, Director Thomas F. Jr. Helms sold 20,000 shares of the company’s stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $31.82, for a total value of $636,400.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Thomas F. Jr. Helms sold 7,500 shares of the company’s stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $32.18, for a total transaction of $241,350.00. Following the completion of the sale, the director now owns 1,650 shares in the company, valued at approximately $53,097. The disclosure for this sale can be found here. In the last 90 days, insiders sold 62,547 shares of company stock worth $2,293,515. Company insiders own 6.90% of the company’s stock.

Institutional investors have recently modified their holdings of the company. OppenheimerFunds Inc. bought a new stake in shares of Turning Point Brands during the 2nd quarter valued at about $200,000. Rhumbline Advisers bought a new stake in shares of Turning Point Brands during the 2nd quarter valued at about $239,000. Citadel Advisors LLC bought a new stake in shares of Turning Point Brands during the 1st quarter valued at about $265,000. Macquarie Group Ltd. bought a new stake in shares of Turning Point Brands during the 2nd quarter valued at about $267,000. Finally, Schwab Charles Investment Management Inc. bought a new stake in shares of Turning Point Brands during the 1st quarter valued at about $315,000. Institutional investors and hedge funds own 27.11% of the company’s stock.

The company has a debt-to-equity ratio of 2.86, a quick ratio of 0.55 and a current ratio of 2.03. The stock has a market cap of $800.75 million, a price-to-earnings ratio of 39.24 and a beta of 0.61.

Turning Point Brands (NYSE:TPB) last announced its quarterly earnings data on Wednesday, August 8th. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.01. Turning Point Brands had a net margin of 7.70% and a return on equity of 51.44%. The business had revenue of $81.10 million during the quarter, compared to the consensus estimate of $82.40 million. During the same quarter in the prior year, the firm earned $0.38 EPS. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. Sell-side analysts predict that Turning Point Brands Inc will post 1.73 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 12th. Investors of record on Friday, September 21st will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date of this dividend is Thursday, September 20th. Turning Point Brands’s dividend payout ratio is presently 14.81%.

Turning Point Brands Company Profile (NYSE:TPB)

Turning Point Brands, Inc, together with its subsidiaries, provides other tobacco products primarily in the United States. It operates through three segments: Smokeless Products, Smoking Products, and NewGen Products. The Smokeless Products segment manufactures and markets moist snuff; and contracts for and markets loose leaf chewing tobacco products.

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