Turning Point Brands, Inc. (NYSE:TPB)‘s stock had its “buy” rating reaffirmed by B. Riley in a report released on Friday. They currently have a $20.00 target price on the stock. B. Riley’s price target would suggest a potential upside of 28.12% from the stock’s previous close. B. Riley also issued estimates for Turning Point Brands’ Q3 2017 earnings at $0.37 EPS, Q4 2017 earnings at $0.33 EPS, FY2017 earnings at $1.14 EPS and FY2018 earnings at $1.39 EPS.
Other equities research analysts also recently issued reports about the stock. Cowen and Company reaffirmed a “buy” rating and issued a $20.00 target price on shares of Turning Point Brands in a research note on Sunday, September 17th. FBR & Co reaffirmed a “buy” rating and issued a $17.00 target price on shares of Turning Point Brands in a research note on Monday, October 2nd. Finally, Zacks Investment Research raised shares of Turning Point Brands from a “sell” rating to a “hold” rating in a research note on Tuesday, September 26th.
Shares of Turning Point Brands (NYSE:TPB) opened at $15.61 on Friday. The firm has a market cap of $299.87, a P/E ratio of 8.09 and a beta of 0.15. The company has a debt-to-equity ratio of 4.51, a current ratio of 1.52 and a quick ratio of 0.29. Turning Point Brands has a one year low of $11.67 and a one year high of $18.99.
Turning Point Brands (NYSE:TPB) last announced its earnings results on Thursday, November 9th. The company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.06). The company had revenue of $73.30 million during the quarter, compared to analysts’ expectations of $71.15 million. Turning Point Brands had a net margin of 12.70% and a return on equity of 101.35%. The company’s revenue for the quarter was up 43.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.34 earnings per share. equities analysts anticipate that Turning Point Brands will post 1.13 EPS for the current fiscal year.
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In other Turning Point Brands news, VP James Michael Murray sold 3,000 shares of the stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $16.15, for a total transaction of $48,450.00. Following the transaction, the vice president now directly owns 19,629 shares in the company, valued at $317,008.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder General L.P. Standard purchased 100,000 shares of Turning Point Brands stock in a transaction on Thursday, September 14th. The shares were acquired at an average price of $17.09 per share, for a total transaction of $1,709,000.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 203,303 shares of company stock worth $3,415,466 and have sold 21,002 shares worth $347,884. 14.20% of the stock is owned by company insiders.
Institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp grew its holdings in shares of Turning Point Brands by 55.7% in the first quarter. Bank of New York Mellon Corp now owns 40,236 shares of the company’s stock worth $628,000 after purchasing an additional 14,396 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of Turning Point Brands in the first quarter worth approximately $658,000. Wells Fargo & Company MN grew its holdings in shares of Turning Point Brands by 30.5% in the second quarter. Wells Fargo & Company MN now owns 62,412 shares of the company’s stock worth $957,000 after purchasing an additional 14,584 shares during the last quarter. Argent Capital Management LLC bought a new position in shares of Turning Point Brands in the second quarter worth approximately $2,552,000. Finally, Spark Investment Management LLC grew its holdings in shares of Turning Point Brands by 133.5% in the second quarter. Spark Investment Management LLC now owns 54,643 shares of the company’s stock worth $838,000 after purchasing an additional 31,243 shares during the last quarter. Hedge funds and other institutional investors own 15.84% of the company’s stock.
About Turning Point Brands
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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