Professional
Added to YB: 2024-05-03
Pitch date: 2024-05-01
TPB [bullish]
Turning Point Brands, Inc.
+243.02%
current return
Author Info
Atai Capital is a long only, concentrated, small-cap value fund. Sign up for the newsletter.
Company Info
Turning Point Brands, Inc., together with its subsidiaries, manufactures, markets, and distributes branded consumer products in the United States and Canada.
Market Cap
$2.0B
Pitch Price
$30.72
Price Target
46.00 (-56%)
Dividend
0.29%
EV/EBITDA
18.08
P/E
173.10
EV/Sales
4.73
Sector
Tobacco
Category
growth
Atai Capital Management Portfolio Holding: Turning Point Brands, Inc.
TPB: Turning Point Brands - Stoker's (49% of op income) HSD+ sales growth in Moist Snuff Tobacco from pricing, share gains, whitespace. Zig-Zag (51%) MSD growth in papers/wraps for cannabis use plus Clipper lighter opportunity. New-Gen vape biz is call option. Estimate $105M+ EBITDA in 2025, fair value $46 (10x multiple) for strong IRR. New CEO executing well.
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