Turning Point Brands (NYSE:TPB) Stock Price Breaks Above Fifty Day Moving Average – Here’s Why

Turning Point Brands, Inc. (NYSE:TPB) shares crossed above its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $66.74 and traded as high as $67.96. Turning Point Brands shares last traded at $67.40, with a volume of 274,935 shares trading hands.

Analyst Ratings Changes

TPB has been the subject of several recent analyst reports. Wall Street Zen upgraded Turning Point Brands from a “strong sell” rating to a “sell” rating in a research note on Monday, August 10th. Compass Point set a $116.00 price target on Turning Point Brands in a report on Monday, August 10th. Oppenheimer dropped their price objective 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. BTIG Research reiterated a “buy” rating on shares of Turning Point Brands in a report on Monday, August 10th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Turning Point Brands in a research report on Friday, August 28th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $109.00.

Turning Point Brands Stock Performance

The company has a debt-to-equity ratio of 0.65, a quick ratio of 4.16 and a current ratio of 5.67. The firm has a market cap of $1.31 billion, a P/E ratio of 28.93 and a beta of 1.08. The business’s 50-day simple moving average is $66.74 and its 200 day simple moving average is $86.52.

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

Turning Point Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 8th. Investors of record on Friday, December 18th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Friday, December 18th. Turning Point Brands’s dividend payout ratio is 13.73%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. CenterBook Partners LP raised its position in Turning Point Brands by 2.0% in the third quarter. CenterBook Partners LP now owns 39,984 shares of the company’s stock worth $2,347,000 after acquiring an additional 774 shares during the period. Pekin Hardy Strauss Inc. boosted its stake in shares of Turning Point Brands by 1.2% during the 3rd quarter. Pekin Hardy Strauss Inc. now owns 34,480 shares of the company’s stock worth $2,024,000 after acquiring an additional 400 shares during the last quarter. Access Investment Management LLC boosted its stake in shares of Turning Point Brands by 57.7% during the 3rd quarter. Access Investment Management LLC now owns 51,392 shares of the company’s stock worth $3,017,000 after acquiring an additional 18,800 shares during the last quarter. Sterling Capital Management LLC grew its position in shares of Turning Point Brands by 566.7% during the 3rd quarter. Sterling Capital Management LLC now owns 620 shares of the company’s stock valued at $36,000 after acquiring an additional 527 shares during the period. Finally, Vest Financial LLC grew its position in shares of Turning Point Brands by 12.2% during the 3rd quarter. Vest Financial LLC now owns 79,710 shares of the company’s stock valued at $4,679,000 after acquiring an additional 8,664 shares during the period. Institutional investors own 96.12% of the company’s stock.

About Turning Point Brands

Turning Point Brands, Inc is a consumer products company focused on the manufacture, marketing and distribution of branded products for adult consumers. Its portfolio includes rolling papers, wraps, cigarette papers, smoking accessories, smokeless tobacco and modern oral nicotine products.

The company’s principal brands include Zig-Zag, a long-standing brand of rolling papers and related accessories, and Stoker’s, which offers moist smokeless tobacco and other tobacco products. Turning Point Brands also develops and markets newer nicotine products, including nicotine pouches, through its NewGen Products business.

Turning Point Brands serves retailers and consumers primarily in the United States through convenience stores, tobacco and specialty retailers, mass merchants, e-commerce channels and other distribution networks.