Shares of Turning Point Brands Inc (NYSE:TPB) have been given an average broker rating score of 1.00 (Strong Buy) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. Two equities research analysts have rated the stock with a strong buy recommendation.
Brokerages have set a 12 month consensus target price of $22.50 for the company and are predicting that the company will post $0.33 earnings per share for the current quarter, according to Zacks. Zacks has also given Turning Point Brands an industry rank of 102 out of 265 based on the ratings given to its competitors.
A number of brokerages have commented on TPB. B. Riley reissued a “buy” rating on shares of Turning Point Brands in a research note on Wednesday, November 1st. Zacks Investment Research cut shares of Turning Point Brands from a “hold” rating to a “sell” rating in a research note on Tuesday, November 14th. Finally, FBR & Co reissued a “buy” rating and issued a $17.00 price objective on shares of Turning Point Brands in a research note on Monday, October 2nd.
Several hedge funds have recently added to or reduced their stakes in the stock. Northern Right Capital Management L.P. boosted its stake in shares of Turning Point Brands by 13.3% during the 2nd quarter. Northern Right Capital Management L.P. now owns 365,308 shares of the company’s stock worth $5,604,000 after purchasing an additional 42,800 shares during the period. Vanguard Group Inc. boosted its stake in shares of Turning Point Brands by 1.1% during the 2nd quarter. Vanguard Group Inc. now owns 255,127 shares of the company’s stock worth $3,914,000 after purchasing an additional 2,834 shares during the period. Argent Capital Management LLC boosted its stake in shares of Turning Point Brands by 8.7% during the 3rd quarter. Argent Capital Management LLC now owns 180,929 shares of the company’s stock worth $3,076,000 after purchasing an additional 14,555 shares during the period. State Street Corp boosted its stake in shares of Turning Point Brands by 5.8% during the 2nd quarter. State Street Corp now owns 84,823 shares of the company’s stock worth $1,301,000 after purchasing an additional 4,663 shares during the period. Finally, Wells Fargo & Company MN boosted its stake in shares of Turning Point Brands by 30.2% during the 3rd quarter. Wells Fargo & Company MN now owns 81,278 shares of the company’s stock worth $1,383,000 after purchasing an additional 18,866 shares during the period. 17.63% of the stock is owned by hedge funds and other institutional investors.
Shares of Turning Point Brands (TPB) traded down $0.06 during trading hours on Thursday, hitting $21.98. 53,724 shares of the company’s stock were exchanged, compared to its average volume of 88,036. Turning Point Brands has a 1-year low of $12.45 and a 1-year high of $22.99. The stock has a market cap of $412.05, a PE ratio of 11.11 and a beta of -0.15. The company has a quick ratio of 0.37, a current ratio of 1.81 and a debt-to-equity ratio of 3.77.
Turning Point Brands (NYSE:TPB) last issued its quarterly earnings data on Thursday, November 9th. The company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.06). Turning Point Brands had a return on equity of 93.53% and a net margin of 12.70%. The business had revenue of $73.30 million during the quarter, compared to analysts’ expectations of $71.15 million. During the same period in the previous year, the business earned $0.34 earnings per share. The business’s quarterly revenue was up 43.9% on a year-over-year basis. equities research analysts forecast that Turning Point Brands will post 1.15 earnings per share for the current year.
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Turning Point Brands Company Profile
Turning Point Brands, Inc is an independent provider of Other Tobacco Products (OTP) 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 chewing tobacco products.
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