The biggest gainers of the session on the Wall Street include Turning Point Brands, Inc. (NYSE:TPB), which rose 0.96 points or 3.81% to trade at $26.17 as last check. The stock closed last session at $25.21 and sets an active trading volume day with a reported 99720 contracts so far this session. TPB shares had a relatively better volume day versus average trading capacity of 294.85 thousand shares, but with a 8.94 million float and a 20.8% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for TPB stock indicates that the average analyst price target is $34.5 per share. This means the stock has a potential increase of 31.83% from where the TPB share price has been trading recently which is between $24.92 and $26.33. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $34. Flipping the other side of the coin, an analyst who is fully bullish set a price target as high as $38.
During the recent trading session for Turning Point Brands, Inc. (NYSE:TPB), the company witnessed their stock rise $1.65 over a week and surge $3.35 from the price 20 days ago. When compared to their established 52-week high of $57.06, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 10/07/19. The recent low of $20.1 stood for a -54.14% since 10/30/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0.57 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to. At the moment, the median target price for TPB is set at $36, a figure which is below the recent 1-year high the stock witnessed.
Looking at the current readings for Turning Point Brands, Inc., the two-week RSI stands at 60.89. This figure suggests that TPB stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current TPB readings is similarly very revealing as it has a stochastic reading of 78.67% at this stage. This figure means that TPB share price today is being oversold.
Technical chart claims that Turning Point Brands, Inc. (TPB) would settle between $26.05/share to $26.9/share level. However, if the stock price goes below the $24.64 mark, then the market for Turning Point Brands, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $24.08 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 1.92. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at FBR & Co. lifted target price for shares of TPB but were stick to Outperform recommendation for the stock in their opinion released on March 15. The price target has been raised from $15 to $17. FBR & Co. analysts again handed out a Outperform recommendation to Turning Point Brands, Inc. (NYSE:TPB) stock but they lifted target price for the shares in a flash note issued to investors on March 14. The target price has been raised from $14 to $15. Analysts at FBR & Co. are sticking to their Outperform stance. However, on October 11, they lifted price target for these shares to $14 from $13.
TPB equity has an average rating of 2, with the figure leaning towards a bullish end. 1 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 1 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 1 analysts rated Turning Point Brands, Inc. (NYSE:TPB) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, TPB stock price is currently trading at 13.06X forward 12-month Consensus EPS estimates, and its P/E ratio is 16.1 while for the average stock in the same group, the multiple is 23.4. Turning Point Brands, Inc. current P/B ratio of 5.2 means it is trading at a premium against its industry’s 3.6.
Turning Point Brands, Inc. (TPB)’s current-quarter revenues are projected to climb by nearly -6% to hit $88.6 million, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over 9.8% from $332680 to a noteworthy $365350. At the other end of the current quarter income statement, Turning Point Brands, Inc. is expected to see its adjusted earnings surge by roughly -6.1% to hit $0.46 per share. For the fiscal year, TPB’s earnings are projected to climb by roughly 4.5% to hit $1.85 per share.