Turning Point Brands (NYSE:TPB) Hits New 1-Year High – Should You Buy?

Turning Point Brands, Inc. (NYSE:TPB) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $43.34 and last traded at $43.24, with a volume of 6932 shares trading hands. The stock had previously closed at $42.57.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. StockNews.com upgraded shares of Turning Point Brands from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Benchmark reiterated a “buy” rating and issued a $45.00 target price on shares of Turning Point Brands in a research report on Friday, August 2nd. Roth Mkm began coverage on Turning Point Brands in a report on Thursday, September 19th. They set a “buy” rating and a $50.00 price target for the company. Finally, Roth Capital raised Turning Point Brands to a “strong-buy” rating in a research note on Thursday, September 19th.

Turning Point Brands Stock Down 0.8 %

The firm has a market cap of $761.27 million, a P/E ratio of 19.03 and a beta of 0.63. The company’s 50-day simple moving average is $40.35 and its 200 day simple moving average is $35.25. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.80 and a quick ratio of 1.17.

Turning Point Brands (NYSE:TPB) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.82 EPS for the quarter. The firm had revenue of $108.51 million during the quarter. Turning Point Brands had a net margin of 11.36% and a return on equity of 36.11%. Research analysts anticipate that Turning Point Brands, Inc. will post 2.68 EPS for the current fiscal year.

Turning Point Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 4th. Stockholders of record on Friday, September 13th were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date of this dividend was Friday, September 13th. Turning Point Brands’s dividend payout ratio (DPR) is 12.33%.

Insider Activity

In related news, Director Gregory H.A. Baxter sold 2,000 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $39.42, for a total value of $78,840.00. Following the completion of the sale, the director now directly owns 46,544 shares in the company, valued at $1,834,764.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 5.20% of the company’s stock.

Hedge Funds Weigh In On Turning Point Brands

Several hedge funds have recently added to or reduced their stakes in the company. 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 bought a new position in Turning Point Brands in the 1st quarter valued at $64,000. SG Americas Securities LLC purchased a new stake in Turning Point Brands in the second quarter worth $129,000. The Manufacturers Life Insurance Company bought a new stake in shares of Turning Point Brands during the second quarter worth $209,000. Finally, Magnetar Financial LLC bought a new stake in shares of Turning Point Brands during the second quarter worth $212,000. 96.12% of the stock is currently owned by institutional investors.

About Turning Point Brands

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.