Turning Point Brands (NYSE:TPB) Hits New 1-Year Low - What's Next?

Key Points

• Turning Point Brands shares fell 6.5% to $57.39 intraday, marking a new 52-week low and trading well below their 50-day and 200-day moving averages.
• Analyst sentiment remains positive overall, with a “Moderate Buy” consensus and an average price target of $109, although Oppenheimer recently cut its target from $130 to $90.
• The company beat quarterly earnings and revenue expectations, while declaring a quarterly dividend of $0.08 per share; institutional investors own approximately 96.12% of the stock.

Turning Point Brands, Inc. (NYSE:TPB - Get Free Report) hit a new 52-week low during mid-day trading on Thursday. The company 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.

Analyst Ratings Changes

TPB has been the subject of several research analyst reports. Wall Street Zen upgraded Turning Point Brands from a "strong sell" rating to a "sell" rating in a research report on Monday, August 10th. BTIG Research reiterated a "buy" rating on shares of Turning Point Brands in a report on Monday, August 10th. Oppenheimer decreased their target price on Turning Point Brands from $130.00 to $90.00 and set an "outperform" rating on the stock in a research note on Tuesday, September 22nd. Weiss Ratings restated a "hold (c)" rating on shares of Turning Point Brands in a report on Friday, August 28th. Finally, Compass Point set a $116.00 target price on Turning Point Brands in a report on Monday, August 10th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $109.00.

Turning Point Brands Trading Down 6.5%

The company has a current ratio of 5.67, a quick ratio of 4.16 and a debt-to-equity ratio of 0.65. The company has a market cap of $1.06 billion, a PE ratio of 23.47 and a beta of 0.94. The company has a fifty day simple moving average of $76.72 and a two-hundred day simple moving average of $81.30.

Turning Point Brands (NYSE:TPB - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.11. The business had revenue of $142.96 million during 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 business's quarterly revenue was up 22.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.98 EPS. Analysts anticipate that Turning Point Brands, Inc. will post 1.19 EPS for the current year.

Turning Point Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 18th will be issued a dividend of $0.08 per share. 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 Investors Weigh In On Turning Point Brands

A number of hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of Turning Point Brands during the 2nd quarter worth about $137,273,000. Bank of America Corp DE acquired a new position in Turning Point Brands in the second quarter valued at approximately $47,278,000. Maple Rock Capital Partners Inc. boosted its holdings in Turning Point Brands by 57.5% in the second quarter. Maple Rock Capital Partners Inc. now owns 686,800 shares of the company's stock valued at $58,248,000 after purchasing an additional 250,800 shares in the last quarter. Madison Avenue Partners LP purchased a new position in Turning Point Brands in the fourth quarter valued at approximately $26,853,000. Finally, Copeland Capital Management LLC increased its stake in Turning Point Brands by 99.4% in the first quarter. Copeland Capital Management LLC now owns 407,208 shares of the company's stock valued at $35,342,000 after purchasing an additional 203,020 shares during the last quarter. 96.12% of the stock is currently owned by institutional investors and hedge funds.

Turning Point Brands Company Profile

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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