Turning Point Brands (NYSE:TPB) Trading Down 7.9% – What’s Next?

Shares of Turning Point Brands, Inc. (NYSE:TPBGet Free Report) were down 7.9% during trading on Thursday . The stock traded as low as $72.60 and last traded at $72.21. Approximately 277,612 shares were traded during trading, a decline of 35% from the average daily volume of 427,745 shares. The stock had previously closed at $78.39.

Analyst Ratings Changes

A number of equities analysts have weighed in on TPB shares. BTIG Research started coverage on shares of Turning Point Brands in a research note on Tuesday. They issued a “buy” rating and a $103.00 target price for the company. Needham & Company LLC upgraded Turning Point Brands from a “hold” rating to a “buy” rating and set a $125.00 price objective on the stock in a research report on Friday, May 8th. Wall Street Zen raised Turning Point Brands from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 6th. Weiss Ratings cut Turning Point Brands from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, June 2nd. Finally, Compass Point set a $103.00 target price on shares of Turning Point Brands in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $113.50.

Read Our Latest Stock Report on TPB

Turning Point Brands Trading Down 8.3%

The company has a quick ratio of 4.05, a current ratio of 5.87 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $1.39 billion, a P/E ratio of 24.42 and a beta of 0.92. The business has a fifty day moving average price of $84.78 and a 200 day moving average price of $95.88.

Turning Point Brands (NYSE:TPBGet Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.08. The business had revenue of $124.28 million during the quarter, compared to the consensus estimate of $115.67 million. Turning Point Brands had a return on equity of 16.54% and a net margin of 11.53%.Turning Point Brands’s quarterly revenue was up 16.8% on a year-over-year basis. During the same period last year, the company earned $0.91 earnings per share. On average, analysts expect that Turning Point Brands, Inc. will post 1.39 earnings per share for the current fiscal year.

Turning Point Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Friday, June 19th were given a $0.08 dividend. The ex-dividend date of this dividend was Thursday, June 18th. This represents a $0.32 dividend on an annualized basis and a yield of 0.4%. Turning Point Brands’s dividend payout ratio (DPR) is 10.88%.

Insider Buying and Selling

In other news, CAO Brian Wigginton sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $91.67, for a total value of $366,680.00. Following the completion of the transaction, the chief accounting officer owned 9,230 shares in the company, valued at $846,114.10. This trade represents a 30.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.40% of the stock is owned by company insiders.

Institutional Trading of Turning Point Brands

Several institutional investors and hedge funds have recently added to or reduced their stakes in TPB. Kemnay Advisory Services Inc. acquired a new stake in Turning Point Brands in the 4th quarter valued at about $27,000. Empowered Funds LLC bought a new stake in Turning Point Brands in the fourth quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd bought a new stake in Turning Point Brands in the third quarter valued at approximately $28,000. Advisory Services Network LLC acquired a new stake in shares of Turning Point Brands in the third quarter valued at approximately $28,000. Finally, First Horizon Corp boosted its stake in shares of Turning Point Brands by 96.0% during the 4th quarter. First Horizon Corp now owns 492 shares of the company’s stock worth $53,000 after acquiring an additional 241 shares during the period. 96.12% of the stock is owned by institutional investors.

Turning Point Brands Company Profile

(Get Free Report)

Turning Point Brands, Inc (NYSE: TPB) is a U.S.-based consumer products company focused on the manufacture, marketing and distribution of smokeless tobacco, vaping and cigar products. Headquartered in Old Hickory, Tennessee, the company serves retail outlets across all 50 states through a direct-store-delivery network and select third-party distributors. Turning Point Brands operates two reporting segments—Smokeless Products and Cigar—and leverages its logistics capabilities to offer a broad portfolio of brands and SKUs.

In its Smokeless Products segment, Turning Point Brands produces moist smokeless tobacco under leading brand names such as Grizzly, Kodiak and Stoker’s.

Further Reading

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