Turning Point Brands (NYSE:TPB) Reaches New 1-Year Low – What’s Next?

Turning Point Brands, Inc. (NYSE:TPB – Get Free Report) hit a new 52-week low during mid-day trading on Wednesday. The stock traded as low as $54.17 and last traded at $54.7240, with a volume of 7,957 shares changing hands. The stock had previously closed at $55.25.

Analyst Upgrades and Downgrades

Several analysts have recently commented on TPB shares. Compass Point set a $116.00 price target on shares of Turning Point Brands in a research report on Monday, August 10th. BTIG Research restated a “buy” rating on shares of Turning Point Brands in a research report on Monday, August 10th. Oppenheimer reduced their target price on Turning Point Brands from $130.00 to $90.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 22nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Turning Point Brands in a research note on Friday, August 28th. Finally, Wall Street Zen upgraded Turning Point Brands from a “strong sell” rating to a “sell” rating in a report on Monday, August 10th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $109.00.

Get Our Latest Stock Report on Turning Point Brands

Turning Point Brands Stock Down 1.0%

The firm’s 50 day moving average is $72.95 and its two-hundred day moving average is $79.28. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of 23.53 and a beta of 0.97. The company has a current ratio of 5.67, a quick ratio of 4.16 and a debt-to-equity ratio of 0.65.

Turning Point Brands (NYSE:TPB – Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.11. The company had revenue of $142.96 million for the quarter, compared to analysts’ expectations of $129.56 million. Turning Point Brands had a net margin of 8.78% and a return on equity of 11.35%. The firm’s revenue for the quarter was up 22.6% compared to the same quarter last year. During the same period last year, the company earned $0.98 EPS. On average, sell-side analysts predict that Turning Point Brands, Inc. will post 1.19 EPS for the current year.

Turning Point Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 9th. Investors of record on Friday, September 18th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, September 18th. This represents a $0.32 annualized dividend and a dividend yield of 0.6%. Turning Point Brands’s dividend payout ratio is presently 13.73%.

Institutional Trading of Turning Point Brands

Hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC raised its stake in shares of Turning Point Brands by 103.3% in the 3rd quarter. GAMMA Investing LLC now owns 681 shares of the company’s stock valued at $40,000 after purchasing an additional 346 shares in the last quarter. Operose Advisors LLC acquired a new position in Turning Point Brands in the second quarter worth $42,000. Fifth Third Bancorp bought a new position in shares of Turning Point Brands during the first quarter valued at approximately $126,000. Quantbot Technologies LP acquired a new position in Turning Point Brands during the 2nd quarter valued at approximately $209,000. Finally, Bessemer Group Inc. boosted its position in Turning Point Brands by 31.0% during the 1st quarter. Bessemer Group Inc. now owns 2,845 shares of the company’s stock valued at $247,000 after purchasing an additional 674 shares during the period. Institutional investors and hedge funds own 96.12% of the company’s stock.

Turning Point Brands Company Profile

(Get Free Report)

Turning Point Brands, Inc is a Louisville, Kentucky-based consumer products company focused primarily on tobacco, nicotine and related products. The company develops, manufactures, markets and distributes products through convenience stores, tobacco shops, mass merchants, e-commerce channels and other retailers in the United States and select international markets.

Its portfolio includes rolling papers, cigar and cigarette wraps, and other smoking accessories sold under the Zig-Zag brand; moist snuff and other smokeless tobacco products marketed under the Stoker’s brand; and modern oral nicotine products, including FRE nicotine pouches.

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