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 on Monday . The stock traded as high as $61.77 and last traded at $60.02, with a volume of 30034 shares. The stock had previously closed at $60.58.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. StockNews.com cut Turning Point Brands from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 24th. Roth Mkm started coverage on shares of Turning Point Brands in a research report on Thursday, September 19th. They issued a “buy” rating and a $50.00 price target for the company. Roth Capital raised Turning Point Brands to a “strong-buy” rating in a research report on Friday, November 8th. Oppenheimer assumed coverage on Turning Point Brands in a report on Thursday. They issued an “outperform” rating and a $65.00 price objective for the company. Finally, Benchmark increased their target price on Turning Point Brands from $45.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $60.00.

Turning Point Brands Trading Up 0.2 %

The business’s 50 day moving average price is $44.60 and its two-hundred day moving average price is $38.51. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of 24.04 and a beta of 0.63. The company has a current ratio of 4.21, a quick ratio of 1.17 and a debt-to-equity ratio of 1.33.

Turning Point Brands (NYSE:TPB) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.01. Turning Point Brands had a return on equity of 33.14% and a net margin of 11.63%. The company had revenue of $105.62 million during the quarter, compared to analysts’ expectations of $100.71 million. During the same period in the prior year, the company earned $0.69 EPS. Turning Point Brands’s revenue was up 3.8% compared to the same quarter last year. On average, equities analysts predict that Turning Point Brands, Inc. will post 2.62 earnings per share for the current fiscal year.

Turning Point Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 20th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend is Friday, December 20th. Turning Point Brands’s dividend payout ratio (DPR) is currently 11.11%.

Insider Activity at Turning Point Brands

In related news, Director Gregory H.A. Baxter sold 2,000 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $39.42, for a total value of $78,840.00. Following the sale, the director now owns 46,544 shares of the company’s stock, valued at $1,834,764.48. The trade was a 4.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 5.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Turning Point Brands

A number of institutional investors have recently made changes to their positions in the stock. First Sabrepoint Capital Management LP acquired a new position in shares of Turning Point Brands in the third quarter worth approximately $7,517,000. Federated Hermes Inc. boosted its stake in shares of Turning Point Brands by 245.9% in the 2nd quarter. Federated Hermes Inc. now owns 154,708 shares of the company’s stock valued at $4,965,000 after purchasing an additional 109,983 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Turning Point Brands by 6.6% during the first quarter. Vanguard Group Inc. now owns 1,497,110 shares of the company’s stock worth $43,865,000 after buying an additional 92,147 shares during the period. Tidal Investments LLC bought a new position in Turning Point Brands during the first quarter worth $1,661,000. Finally, Renaissance Technologies LLC lifted its holdings in Turning Point Brands by 21.1% in the second quarter. Renaissance Technologies LLC now owns 302,697 shares of the company’s stock valued at $9,714,000 after buying an additional 52,800 shares during the period. Institutional investors own 96.12% of the company’s stock.

About Turning Point Brands

Turning Point Brands, Inc, together with its subsidiaries, manufactures, markets, and distributes branded consumer products. The company operates through three segments: Zig-Zag Products, Stoker’s Products, and Creative Distribution Solutions. Zig-Zag Products segment markets and distributes rolling papers, tubes, finished cigars, make-your-own cigar wraps, and related products, as well as lighters and other accessories under the Zig-Zag brand.