Turning Point Brands (NYSE:TPB) Hits New 12-Month Low – What’s Next?

Turning Point Brands, Inc. (NYSE:TPB)’s stock price reached a new 52-week low on Monday. The stock traded as low as $53.26 and last traded at $63.2440, with a volume of 2,431 shares trading hands. The stock had previously closed at $65.88.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on TPB shares. Weiss Ratings reissued a “hold (c)” rating on shares of Turning Point Brands in a research note on Friday, August 28th. Wall Street Zen upgraded shares of Turning Point Brands from a “strong sell” rating to a “sell” rating in a report on Monday, August 10th. BTIG Research reaffirmed a “buy” rating on shares of Turning Point Brands in a research note on Monday, August 10th. Oppenheimer dropped their price objective on shares of Turning Point Brands from $130.00 to $90.00 and set an “outperform” rating on the stock in a report on Tuesday, September 22nd. Finally, Compass Point set a $116.00 price objective on shares of Turning Point Brands in a research report on Monday, August 10th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Turning Point Brands currently has an average rating of “Hold” and a consensus target price of $108.50.

Turning Point Brands Trading Up 0.1%

The company has a debt-to-equity ratio of 0.65, a current ratio of 5.67 and a quick ratio of 4.16. The firm has a fifty day simple moving average of $65.63 and a 200-day simple moving average of $85.76. The firm has a market cap of $1.28 billion, a P/E ratio of 27.97 and a beta of 1.08.

Turning Point Brands (NYSE:TPB) last released its quarterly earnings data on Monday, November 9th. The company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.20 by $0.21. Turning Point Brands had a return on equity of 11.35% and a net margin of 8.78%. The business’s quarterly revenue was up 27.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.27 earnings per share. On average, equities research analysts expect that Turning Point Brands, Inc. will post 1.19 earnings per share for the current year.

Turning Point Brands Dividend Announcement

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

Institutional Trading of Turning Point Brands

Hedge funds have recently bought and sold shares of the business. Sterling Capital Management LLC raised its holdings in Turning Point Brands by 566.7% during the third quarter. Sterling Capital Management LLC now owns 620 shares of the company’s stock worth $36,000 after buying an additional 527 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Turning Point Brands by 103.3% in the third quarter. GAMMA Investing LLC now owns 681 shares of the company’s stock valued at $40,000 after buying an additional 346 shares in the last quarter. Operose Advisors LLC bought a new position in shares of Turning Point Brands in the second quarter valued at $42,000. Fifth Third Bancorp bought a new position in shares of Turning Point Brands in the first quarter valued at $126,000. Finally, Quantbot Technologies LP acquired a new position in shares of Turning Point Brands during the second quarter valued at about $209,000. Institutional investors and hedge funds 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.