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

Key Points

• Turning Point Brands fell to a new 52-week low, trading as low as $54.17 and well below its 50-day and 200-day moving averages of $72.95 and $79.28, respectively.
• Analyst sentiment remains mixed but leans positive: four analysts rate the stock a Buy, one rates it Hold, and one rates it Sell. The consensus rating is “Moderate Buy,” with a $109 target price, although Oppenheimer recently cut its target from $130 to $90.
• The company exceeded quarterly expectations, reporting $0.23 in EPS versus a $0.12 estimate and revenue of $142.96 million, up 22.6% year over year. Turning Point Brands also pays a quarterly dividend of $0.08 per share, yielding about 0.6%.

Turning Point Brands, Inc. (NYSE:TPB - Get Free Report) reached a new 52-week low during mid-day trading on Wednesday. The stock traded as low as $54.17 and last traded at $54.7240, with a volume of 7,957 shares. The stock had previously closed at $55.25.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. BTIG Research reaffirmed a "buy" rating on shares of Turning Point Brands in a report on Monday, August 10th. Oppenheimer cut their target price on Turning Point Brands from $130.00 to $90.00 and set an "outperform" rating for the company in a research note on Tuesday, September 22nd. Weiss Ratings reissued a "hold (c)" rating on shares of Turning Point Brands in a report on Friday, August 28th. Wall Street Zen raised Turning Point Brands from a "strong sell" rating to a "sell" rating in a report on Monday, August 10th. Finally, Compass Point set a $116.00 price target on Turning Point Brands in a research note on Monday, August 10th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $109.00.

Turning Point Brands Stock Performance

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 firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of 23.53 and a beta of 0.97. The stock's 50 day moving average price is $72.95 and its two-hundred day moving average price is $79.28.

Turning Point Brands (NYSE:TPB - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.12 by $0.11. Turning Point Brands had a net margin of 8.78% and a return on equity of 11.35%. The firm had revenue of $142.96 million during the quarter, compared to analysts' expectations of $129.56 million. During the same quarter last year, the business earned $0.98 earnings per share. The business's revenue for the quarter was up 22.6% compared to the same quarter last year. On average, analysts forecast 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 was paid on Friday, October 9th. Stockholders of record on Friday, September 18th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, September 18th. This represents a $0.32 annualized dividend and a dividend yield of 0.6%. Turning Point Brands's payout ratio is 13.73%.

Hedge Funds Weigh In On Turning Point Brands

Several hedge funds have recently bought and sold shares of the company. Copeland Capital Management LLC grew its holdings in Turning Point Brands by 2.6% in the third quarter. Copeland Capital Management LLC now owns 708,507 shares of the company's stock valued at $41,589,000 after purchasing an additional 18,184 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Turning Point Brands by 103.3% during the 3rd quarter. GAMMA Investing LLC now owns 681 shares of the company's stock worth $40,000 after buying an additional 346 shares during the last quarter. Operose Advisors LLC purchased a new stake in shares of Turning Point Brands in the 2nd quarter worth about $42,000. Maple Rock Capital Partners Inc. boosted its position in shares of Turning Point Brands by 57.5% in the 2nd quarter. Maple Rock Capital Partners Inc. now owns 686,800 shares of the company's stock worth $58,248,000 after buying an additional 250,800 shares in the last quarter. Finally, AWH Capital L.P. purchased a new stake in shares of Turning Point Brands in the 2nd quarter worth about $6,526,130. 96.12% of the stock is owned by hedge funds and other institutional investors.

Turning Point Brands Company Profile

Turning Point Brands, Inc is a Louisville, Kentucky-based consumer products company focused primarily on tobacco, nicotine and related products. The company develops, manufactures, markets and distributes products through convenience stores, tobacco shops, mass merchants, e-commerce channels and other retailers in the United States and select international markets.

Its portfolio includes rolling papers, cigar and cigarette wraps, and other smoking accessories sold under the Zig-Zag brand; moist snuff and other smokeless tobacco products marketed under the Stoker's brand; and modern oral nicotine products, including FRE nicotine pouches.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.