Turning Point Brands, Inc. (NYSE:TPB – Get Free Report)’s share price hit a new 52-week low during mid-day trading on Thursday. The stock traded as low as $57.39 and last traded at $57.54, with a volume of 6179 shares changing hands. The stock had previously closed at $60.08.
Wall Street Analysts Forecast Growth
TPB has been the topic of a number of recent analyst reports. BTIG Research reaffirmed a “buy” rating on shares of Turning Point Brands in a research report on Monday, August 10th. Compass Point set a $116.00 price objective on Turning Point Brands in a report on Monday, August 10th. Oppenheimer cut their target price on Turning Point Brands from $130.00 to $90.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 22nd. Wall Street Zen raised Turning Point Brands from a “strong sell” rating to a “sell” rating in a report on Monday, August 10th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Turning Point Brands in a report on Friday, August 28th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $109.00.
Read Our Latest Analysis on Turning Point Brands
Turning Point Brands Stock Performance
Turning Point Brands (NYSE:TPB – Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.11. Turning Point Brands had a net margin of 8.78% and a return on equity of 11.35%. The company had revenue of $142.96 million for the quarter, compared to analyst estimates of $129.56 million. During the same period in the previous year, the business posted $0.98 earnings per share. Turning Point Brands’s quarterly revenue was up 22.6% on a year-over-year basis. Analysts anticipate that Turning Point Brands, Inc. will post 1.19 earnings per share for the current fiscal year.
Turning Point Brands Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 18th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.6%. The ex-dividend date is Friday, September 18th. Turning Point Brands’s payout ratio is 13.73%.
Institutional Trading of Turning Point Brands
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Operose Advisors LLC purchased a new position in shares of Turning Point Brands in the 2nd quarter valued at approximately $42,000. Fifth Third Bancorp purchased a new stake in shares of Turning Point Brands during the first quarter worth approximately $126,000. Quantbot Technologies LP acquired a new stake in shares of Turning Point Brands during the second quarter worth $209,000. AXQ Capital LP acquired a new stake in shares of Turning Point Brands during the fourth quarter worth $301,000. Finally, Bessemer Group Inc. lifted its holdings in shares of Turning Point Brands by 31.0% during the first quarter. Bessemer Group Inc. now owns 2,845 shares of the company’s stock worth $247,000 after purchasing an additional 674 shares during the period. 96.12% of the stock is owned by hedge funds and other institutional investors.
About Turning Point Brands
Turning Point Brands, Inc is a consumer-products company focused on branded products for the tobacco, smoking-accessory and modern oral categories. Its portfolio includes rolling papers, wraps, smokeless tobacco, nicotine pouches and related products marketed under established brands.
The company’s principal brands include Zig-Zag, which offers rolling papers, cones, wraps and smoking accessories; Stoker’s, known for smokeless tobacco products; and FRE, a brand of nicotine pouches. Turning Point Brands also develops and distributes other alternative and specialty products through its brand portfolio.
Turning Point Brands sells its products primarily through convenience stores, tobacco and vape retailers, specialty retailers, distributors, e-commerce channels and other consumer outlets in the United States, with some products available internationally.
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