Turning Point Brands (NYSE:TPB) Trading Up 4.3% – Should You Buy?

Turning Point Brands, Inc. (NYSE:TPB)’s stock price was up 4.3% during trading on Thursday . The stock traded as high as $57.58 and last traded at $57.39. Approximately 73,975 shares changed hands during mid-day trading, a decline of 38% from the average daily volume of 118,495 shares. The stock had previously closed at $55.00.

Wall Street Analysts Forecast Growth

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

Turning Point Brands Stock Performance

The stock’s fifty day simple moving average is $43.81 and its 200-day simple moving average is $38.02. The company has a market capitalization of $1.03 billion, a PE ratio of 23.49 and a beta of 0.63. The company has a quick ratio of 1.17, a current ratio of 4.21 and a debt-to-equity ratio of 1.33.

Turning Point Brands (NYSE:TPB) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.67 by $0.01. The business had revenue of $105.62 million during the quarter, compared to analyst estimates of $100.71 million. Turning Point Brands had a net margin of 11.63% and a return on equity of 33.14%. The company’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.69 EPS. On average, research 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. The ex-dividend date is Friday, December 20th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.48%. Turning Point Brands’s dividend payout ratio is currently 11.11%.

Insider Activity at Turning Point Brands

In other Turning Point Brands news, Director Gregory H.A. Baxter sold 2,000 shares of the stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $39.42, for a total transaction 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. This represents a 4.12 % decrease in their position. 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 currently owned by insiders.

Institutional Trading of Turning Point Brands

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Copeland Capital Management LLC purchased a new stake in Turning Point Brands in the 3rd quarter worth about $61,000. Lazard Asset Management LLC purchased a new position in shares of Turning Point Brands during the first quarter valued at approximately $48,000. Allspring Global Investments Holdings LLC purchased a new stake in Turning Point Brands in the first quarter worth $64,000. SG Americas Securities LLC purchased a new stake in shares of Turning Point Brands in the second quarter worth $129,000. Finally, Aigen Investment Management LP purchased a new stake in shares of Turning Point Brands in the third quarter worth $221,000. Institutional investors and hedge funds own 96.12% of the company’s stock.

Turning Point Brands Company Profile

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.