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

Key Points

• Turning Point Brands hit a new 52-week low of $53.26 on Monday, before last trading at $63.24, below its prior close of $65.88.
• Quarterly EPS was $0.41, beating analysts’ $0.20 estimate, while revenue rose 27% year over year. EPS was down from $1.27 in the same quarter last year.
• Analysts’ consensus rating was Hold, with an average price target of $108.50; ratings included three Buys, one Hold, and one Sell. The company also declared a quarterly dividend of $0.08 per share.

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

Analysts Set New Price Targets

Several equities analysts have issued reports on TPB shares. BTIG Research restated a "buy" rating on shares of Turning Point Brands in a research report on Monday, August 10th. Weiss Ratings reaffirmed 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. Oppenheimer reduced 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 research note on Tuesday, September 22nd. Finally, Compass Point set a $116.00 price objective on shares of Turning Point Brands in a research note on Monday, August 10th. Three 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 stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $108.50.

Turning Point Brands Stock 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 company has a market capitalization of $1.28 billion, a P/E ratio of 27.97 and a beta of 1.08. The stock has a 50-day moving average price of $65.63 and a 200-day moving average price of $85.76.

Turning Point Brands (NYSE:TPB - Get Free Report) last posted its quarterly earnings data on Monday, November 9th. The company reported $0.41 EPS for the quarter, topping analysts' consensus estimates of $0.20 by $0.21. Turning Point Brands had a return on equity of 11.35% and a net margin of 8.78%. During the same period last year, the company earned $1.27 EPS. The business's revenue was up 27.0% compared to the same quarter last year. On average, research analysts predict that Turning Point Brands, Inc. will post 1.19 EPS for the current fiscal year.

Turning Point Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 8th. Shareholders of record on Friday, December 18th will be issued a dividend of $0.08 per share. The ex-dividend date is Friday, December 18th. This represents a $0.32 annualized dividend and a yield of 0.5%. Turning Point Brands's dividend payout ratio (DPR) is presently 13.73%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Turning Point Brands during the 2nd quarter valued at about $137,273,000. Copeland Capital Management LLC grew its stake in Turning Point Brands by 2.6% during the third quarter. Copeland Capital Management LLC now owns 708,507 shares of the company's stock worth $41,589,000 after purchasing an additional 18,184 shares during the period. First Trust Advisors LP increased its holdings in Turning Point Brands by 39.6% in the first quarter. First Trust Advisors LP now owns 689,905 shares of the company's stock worth $59,877,000 after purchasing an additional 195,643 shares in the last quarter. Maple Rock Capital Partners Inc. increased 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 worth $58,248,000 after purchasing an additional 250,800 shares in the last quarter. Finally, Bank of America Corp DE acquired a new position in Turning Point Brands in the second quarter valued at approximately $47,278,000. 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.

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