Shares of Turning Point Brands Inc (NYSE:TPB) have been assigned an average broker rating score of 1.00 (Strong Buy) from the four brokers that cover the company, Zacks Investment Research reports. Four investment analysts have rated the stock with a strong buy recommendation.
Analysts have set a 1 year consensus price target of $42.50 for the company and are predicting that the company will post $0.46 earnings per share for the current quarter, according to Zacks. Zacks has also given Turning Point Brands an industry rank of 100 out of 255 based on the ratings given to related companies.
A number of brokerages have recently issued reports on TPB. Zacks Investment Research cut Turning Point Brands from a “hold” rating to a “sell” rating in a research note on Wednesday, October 23rd. ValuEngine lowered Turning Point Brands from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 29th. Buckingham Research began coverage on Turning Point Brands in a research report on Tuesday, November 26th. They issued a “buy” rating and a $40.00 price objective for the company. Finally, B. Riley decreased their target price on shares of Turning Point Brands from $56.00 to $38.00 and set a “buy” rating on the stock in a research note on Monday, October 21st.
TPB traded down $0.15 during trading on Friday, hitting $26.59. 85,146 shares of the company traded hands, compared to its average volume of 203,725. Turning Point Brands has a one year low of $20.10 and a one year high of $57.06. The stock’s fifty day moving average is $24.85 and its 200 day moving average is $36.60. The company has a quick ratio of 2.40, a current ratio of 4.68 and a debt-to-equity ratio of 3.25. The firm has a market cap of $542.87 million, a P/E ratio of 15.55 and a beta of 0.72.
Turning Point Brands (NYSE:TPB) last released its earnings results on Friday, November 1st. The company reported $0.56 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.10. The firm had revenue of $96.80 million for the quarter, compared to analysts’ expectations of $80.55 million. Turning Point Brands had a net margin of 8.25% and a return on equity of 42.94%. The company’s quarterly revenue was up 16.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.48 earnings per share. On average, equities research analysts forecast that Turning Point Brands will post 1.72 EPS for the current fiscal year.
Several hedge funds have recently bought and sold shares of the business. Bank of Montreal Can raised its stake in Turning Point Brands by 68,100.0% during the second quarter. Bank of Montreal Can now owns 682 shares of the company’s stock valued at $33,000 after buying an additional 681 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in shares of Turning Point Brands during the second quarter valued at $38,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Turning Point Brands during the second quarter valued at $55,000. Ibex Investors LLC purchased a new position in shares of Turning Point Brands in the 2nd quarter worth about $229,000. Finally, Alps Advisors Inc. purchased a new position in shares of Turning Point Brands in the 3rd quarter worth about $320,000. Hedge funds and other institutional investors own 44.82% of the company’s stock.
Turning Point Brands Company Profile
Turning Point Brands, Inc, together with its subsidiaries, provides other tobacco products in the United States. The company operates in 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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