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

by · The Cerbat Gem

Turning Point Brands, Inc. (NYSE:TPB – Get Free Report)’s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $103.31 and last traded at $103.33, with a volume of 14139 shares trading hands. The stock had previously closed at $102.34.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on TPB shares. Zacks Research raised shares of Turning Point Brands from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 14th. Wall Street Zen cut shares of Turning Point Brands from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. Needham & Company LLC started coverage on shares of Turning Point Brands in a research note on Friday, August 1st. They issued a “hold” rating on the stock. Finally, Oppenheimer lifted their price target on shares of Turning Point Brands from $85.00 to $98.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $78.83.

Check Out Our Latest Report on TPB

Turning Point Brands Stock Performance

The firm has a market capitalization of $1.87 billion, a price-to-earnings ratio of 43.52 and a beta of 0.76. The company has a quick ratio of 2.67, a current ratio of 4.22 and a debt-to-equity ratio of 1.30. The stock has a 50-day moving average price of $89.37 and a 200 day moving average price of $74.34.

Turning Point Brands (NYSE:TPB – Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.19. Turning Point Brands had a return on equity of 25.32% and a net margin of 10.34%.The business had revenue of $116.63 million during the quarter, compared to the consensus estimate of $107.30 million. During the same period in the previous year, the company posted $0.68 earnings per share. The business’s revenue for the quarter was up 25.1% on a year-over-year basis. On average, analysts forecast that Turning Point Brands, Inc. will post 2.59 EPS for the current year.

Turning Point Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Friday, September 19th will be issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Friday, September 19th. Turning Point Brands’s dividend payout ratio is 12.55%.

Insider Transactions at Turning Point Brands

In related news, Director Lawrence Wexler sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $75.94, for a total value of $1,898,500.00. Following the completion of the transaction, the director directly owned 330,186 shares of the company’s stock, valued at $25,074,324.84. This represents a 7.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 6.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Turning Point Brands

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its holdings in shares of Turning Point Brands by 90.7% in the second quarter. GAMMA Investing LLC now owns 328 shares of the company’s stock valued at $25,000 after acquiring an additional 156 shares during the period. Briaud Financial Planning Inc acquired a new stake in shares of Turning Point Brands in the second quarter valued at approximately $31,000. Virtus Fund Advisers LLC acquired a new stake in shares of Turning Point Brands in the fourth quarter valued at approximately $48,000. Sunbelt Securities Inc. acquired a new stake in shares of Turning Point Brands in the fourth quarter valued at approximately $96,000. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of Turning Point Brands in the second quarter valued at approximately $129,000. 96.12% of the stock is owned by institutional investors and hedge funds.

Turning Point Brands Company Profile

(Get Free Report)

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.

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