Turning Point Brands (NYSE:TPB) Trading Down 2.8% – What’s Next?

Shares of Turning Point Brands, Inc. (NYSE:TPB) fell 2.8% during trading on Monday . The stock traded as low as $58.13 and last traded at $59.00. 26,774 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 131,170 shares. The stock had previously closed at $60.71.

Analysts Set New Price Targets

A number of research analysts have weighed in on TPB shares. Roth Capital upgraded shares of Turning Point Brands to a “strong-buy” rating in a research note on Friday, November 8th. Oppenheimer initiated coverage on Turning Point Brands in a research note on Thursday, November 14th. They issued an “outperform” rating and a $65.00 price objective on the stock. StockNews.com raised Turning Point Brands from a “hold” rating to a “buy” rating in a research report on Friday, January 3rd. Craig Hallum boosted their target price on Turning Point Brands from $60.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Finally, Benchmark increased their price target on Turning Point Brands from $45.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $68.75.

Turning Point Brands Trading Up 0.6 %

The firm has a 50-day simple moving average of $58.46 and a 200-day simple moving average of $45.84. The company has a quick ratio of 1.78, a current ratio of 4.21 and a debt-to-equity ratio of 1.33. The stock has a market cap of $997.58 million, a PE ratio of 22.37 and a beta of 0.66.

Turning Point Brands (NYSE:TPB) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.01. The business had revenue of $105.62 million for the quarter, compared to analysts’ expectations of $100.71 million. Turning Point Brands had a return on equity of 33.14% and a net margin of 11.63%. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.69 EPS. Equities analysts forecast that Turning Point Brands, Inc. will post 2.59 earnings per share for the current year.

Turning Point Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 20th will be issued a $0.07 dividend. The ex-dividend date is Friday, December 20th. This represents a $0.28 annualized dividend and a dividend yield of 0.50%. Turning Point Brands’s payout ratio is currently 11.11%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Corsair Capital Management L.P. grew its stake in Turning Point Brands by 49.0% in the 3rd quarter. Corsair Capital Management L.P. now owns 30,412 shares of the company’s stock worth $1,312,000 after buying an additional 10,000 shares in the last quarter. Pekin Hardy Strauss Inc. bought a new stake in shares of Turning Point Brands during the 3rd quarter worth $1,260,000. Federated Hermes Inc. grew its position in Turning Point Brands by 245.9% in the second quarter. Federated Hermes Inc. now owns 154,708 shares of the company’s stock worth $4,965,000 after acquiring an additional 109,983 shares in the last quarter. Millennium Management LLC increased its stake in Turning Point Brands by 14.1% in the second quarter. Millennium Management LLC now owns 178,367 shares of the company’s stock valued at $5,724,000 after acquiring an additional 22,035 shares during the last quarter. Finally, Harspring Capital Management LLC raised its position in Turning Point Brands by 13.4% during the second quarter. Harspring Capital Management LLC now owns 181,500 shares of the company’s stock valued at $5,824,000 after purchasing an additional 21,500 shares in the last quarter. 96.12% of the stock is currently owned by institutional investors.

Turning Point Brands Company Profile

Turning Point Brands, Inc, together with its subsidiaries, manufactures, markets, and distributes branded consumer products. The company operates through three segments: Zig-Zag Products, Stoker’s Products, and Creative Distribution Solutions. Zig-Zag Products segment markets and distributes rolling papers, tubes, finished cigars, make-your-own cigar wraps, and related products, as well as lighters and other accessories under the Zig-Zag brand.