Turning Point Brands (TPB) Given New $55.00 Price Target at B. Riley

Turning Point Brands (NYSE:TPB) had its target price boosted by B. Riley from $45.00 to $55.00 in a report released on Wednesday morning, The Fly reports. B. Riley currently has a buy rating on the stock. B. Riley also issued estimates for Turning Point Brands’ Q1 2019 earnings at $0.38 EPS, Q2 2019 earnings at $0.56 EPS, Q3 2019 earnings at $0.55 EPS, Q4 2019 earnings at $0.56 EPS, FY2019 earnings at $2.06 EPS and FY2020 earnings at $2.35 EPS.

Separately, Zacks Investment Research cut shares of Turning Point Brands from a hold rating to a sell rating in a research report on Tuesday, December 11th.

Turning Point Brands stock opened at $48.01 on Wednesday. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.32 and a current ratio of 1.75. The firm has a market cap of $938.93 million, a PE ratio of 28.08 and a beta of 1.27. Turning Point Brands has a fifty-two week low of $19.11 and a fifty-two week high of $49.35.

Turning Point Brands (NYSE:TPB) last posted its quarterly earnings data on Tuesday, March 5th. The company reported $0.49 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.01). The company had revenue of $94.29 million for the quarter, compared to analysts’ expectations of $91.70 million. Turning Point Brands had a net margin of 7.60% and a return on equity of 51.39%. The business’s quarterly revenue was up 28.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.39 EPS. As a group, equities analysts forecast that Turning Point Brands will post 1.99 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 12th. Investors of record on Friday, March 22nd will be issued a dividend of $0.045 per share. This represents a $0.18 annualized dividend and a dividend yield of 0.37%. The ex-dividend date of this dividend is Thursday, March 21st. Turning Point Brands’s dividend payout ratio is currently 10.53%.

Hedge funds have recently added to or reduced their stakes in the stock. Martingale Asset Management L P grew its holdings in shares of Turning Point Brands by 2.5% during the 3rd quarter. Martingale Asset Management L P now owns 37,303 shares of the company’s stock valued at $1,547,000 after purchasing an additional 900 shares during the last quarter. O Shaughnessy Asset Management LLC grew its holdings in shares of Turning Point Brands by 9.3% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 19,436 shares of the company’s stock valued at $806,000 after purchasing an additional 1,655 shares during the last quarter. Prudential Financial Inc. grew its holdings in shares of Turning Point Brands by 45.1% during the 3rd quarter. Prudential Financial Inc. now owns 21,502 shares of the company’s stock valued at $891,000 after purchasing an additional 6,685 shares during the last quarter. Vanguard Group Inc grew its holdings in shares of Turning Point Brands by 0.7% during the 3rd quarter. Vanguard Group Inc now owns 370,122 shares of the company’s stock valued at $15,345,000 after purchasing an additional 2,605 shares during the last quarter. Finally, Stone Ridge Asset Management LLC bought a new position in shares of Turning Point Brands during the 3rd quarter valued at $236,000. 34.52% of the stock is currently owned by institutional investors.

Turning Point Brands Company Profile

Turning Point Brands, Inc, together with its subsidiaries, provides other tobacco products primarily in the United States. It operates through 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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