Turning Point Brands (NYSE:TPB) Reaches New 1-Year High – Still a Buy?

Turning Point Brands, Inc. (NYSE:TPB) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $47.95 and last traded at $47.95, with a volume of 275 shares trading hands. The stock had previously closed at $46.99.

Analyst Ratings Changes

Several equities analysts have recently issued reports on TPB shares. Roth Mkm started coverage on shares of Turning Point Brands in a report on Thursday, September 19th. They set a “buy” rating and a $50.00 price target for the company. Benchmark reissued a “buy” rating and set a $45.00 price target on shares of Turning Point Brands in a report on Friday, August 2nd. StockNews.com cut shares of Turning Point Brands from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 24th. Finally, Roth Capital upgraded shares of Turning Point Brands to a “strong-buy” rating in a research note on Thursday, September 19th.

Turning Point Brands Trading Up 0.1 %

The business’s 50 day moving average is $41.44 and its two-hundred day moving average is $36.32. The company has a quick ratio of 1.17, a current ratio of 1.80 and a debt-to-equity ratio of 1.43. The firm has a market capitalization of $829.29 million, a P/E ratio of 20.73 and a beta of 0.63.

Turning Point Brands (NYSE:TPB) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.82 earnings per share for the quarter. Turning Point Brands had a net margin of 11.36% and a return on equity of 36.11%. The business had revenue of $108.51 million for the quarter. Analysts expect that Turning Point Brands, Inc. will post 2.68 EPS for the current year.

Insiders Place Their Bets

In other Turning Point Brands news, Director Gregory H.A. Baxter sold 2,000 shares of the business’s stock in a transaction dated 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 directly owns 46,544 shares in the company, valued at approximately $1,834,764.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Turning Point Brands

Several hedge funds and other institutional investors have recently bought and sold shares of TPB. Federated Hermes Inc. increased its stake in Turning Point Brands by 245.9% in the 2nd quarter. Federated Hermes Inc. now owns 154,708 shares of the company’s stock worth $4,965,000 after purchasing an additional 109,983 shares in the last quarter. Vanguard Group Inc. increased its stake in Turning Point Brands by 6.6% in the 1st quarter. Vanguard Group Inc. now owns 1,497,110 shares of the company’s stock worth $43,865,000 after purchasing an additional 92,147 shares in the last quarter. Lord Abbett & CO. LLC increased its stake in Turning Point Brands by 45.2% in the 1st quarter. Lord Abbett & CO. LLC now owns 255,309 shares of the company’s stock worth $7,481,000 after purchasing an additional 79,489 shares in the last quarter. Tidal Investments LLC purchased a new position in Turning Point Brands in the 1st quarter worth about $1,661,000. Finally, GSA Capital Partners LLP purchased a new position in Turning Point Brands in the 1st quarter worth about $1,587,000. 96.12% of the stock is currently owned by institutional investors.

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.