Turning Point Brands (TPB) Gets a Buy Rating from B.Riley FBR


In a report released yesterday, Susan Anderson from B.Riley FBR maintained a Buy rating on Turning Point Brands (TPB), with a price target of $38.00. The company’s shares closed last Wednesday at $24.71.

According to TipRanks.com, Anderson ‘s ranking currently consits of 0 on a 0-5 ranking scale, with an average return of -4.8% and a 35.1% success rate. Anderson covers the Consumer Goods sector, focusing on stocks such as Wolverine World Wide, G-III Apparel Group, and Lululemon Athletica.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Turning Point Brands with a $33.50 average price target.

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Based on Turning Point Brands’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $90.69 million and net profit of $3.28 million. In comparison, last year the company earned revenue of $91.63 million and had a net profit of $6.56 million.

Based on the recent corporate insider activity of 15 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of TPB in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Turning Point Brands, Inc. provides tobacco products. It operates through following 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. The Smoking products segment imports and markets cigarette papers, tubes, finished cigars, NYO cigar tobaccos and cigar wraps and processes, packages and markets pipe tobaccos. The NewGen products segment markets e-cigarettes, e-liquids, vaporizers, and other related products and distributes a wide assortment of vaping products to non-traditional retail outlets via VaporBeast and Vapor Shark. The company was founded by Thomas Helms, Jr. in 1988 and is headquartered in Louisville, KY.

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