Turning Point Brands (NYSE:TPB) Reaches New 1-Year High – Still a Buy?

Turning Point Brands, Inc. (NYSE:TPB) reached a new 52-week high during trading on Wednesday . The stock traded as high as $47.95 and last traded at $47.95, with a volume of 275 shares changing hands. The stock had previously closed at $46.99.

Analyst Ratings Changes

A number of research firms have recently issued reports on TPB. Roth Mkm began coverage on shares of Turning Point Brands in a research note on Thursday, September 19th. They set a “buy” rating and a $50.00 price objective on the stock. Roth Capital upgraded shares of Turning Point Brands to a “strong-buy” rating in a research note on Thursday, September 19th. StockNews.com lowered shares of Turning Point Brands from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 24th. Finally, Benchmark reiterated a “buy” rating and set a $45.00 price objective on shares of Turning Point Brands in a research note on Friday, August 2nd.

Turning Point Brands Price Performance

The company has a debt-to-equity ratio of 1.43, a current ratio of 1.80 and a quick ratio of 1.17. The firm has a market cap of $829.29 million, a price-to-earnings ratio of 20.73 and a beta of 0.63. The business’s 50-day moving average price is $41.44 and its two-hundred day moving average price is $36.32.

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

Insider Transactions at Turning Point Brands

In other Turning Point Brands news, Director Gregory H.A. Baxter sold 2,000 shares of Turning Point Brands stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $39.42, for a total value of $78,840.00. Following the completion of the transaction, the director now owns 46,544 shares of the company’s stock, valued at $1,834,764.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 5.20% of the company’s stock.

Hedge Funds Weigh In On Turning Point Brands

Hedge funds have recently added to or reduced their stakes in the business. Copeland Capital Management LLC acquired a new position in Turning Point Brands in the third quarter worth $61,000. Lazard Asset Management LLC acquired a new position in shares of Turning Point Brands during the first quarter valued at $48,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Turning Point Brands during the first quarter valued at $64,000. SG Americas Securities LLC acquired a new position in shares of Turning Point Brands during the second quarter valued at $129,000. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Turning Point Brands during the second quarter valued at $209,000. Institutional investors and hedge funds own 96.12% of the company’s stock.

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.