In a report released today, Eric Des Lauriers from Craig-Hallum maintained a Buy rating on Turning Point Brands (TPB – Research Report). The company’s shares closed yesterday at $23.48.
Des Lauriers covers the Basic Materials sector, focusing on stocks such as Curaleaf Holdings, Green Thumb Industries, and Trulieve Cannabis. According to TipRanks, Des Lauriers has an average return of 4.6% and a 27.69% success rate on recommended stocks.
Turning Point Brands has an analyst consensus of Moderate Buy, with a price target consensus of $22.00.
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Based on Turning Point Brands’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $103.39 million and a GAAP net loss of $16.32 million. In comparison, last year the company earned a revenue of $105.28 million and had a net profit of $11.45 million
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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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