Turning Point Brands (NYSE:TPB) Stock Jumps 5.3% - What's Next?

Key Points

• Turning Point Brands shares rose 5.3% to about $63.49, although trading volume was 74% below the daily average.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $109 target price, well above the current share price.
• The company exceeded quarterly expectations, reporting $0.23 in adjusted earnings per share and $142.96 million in revenue, while paying a quarterly dividend of $0.08 per share.

Turning Point Brands, Inc. (NYSE:TPB - Get Free Report)'s stock price traded up 5.3% during trading on Friday. The stock traded as high as $63.39 and last traded at $63.49. 109,232 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 415,345 shares. The stock had previously closed at $60.31.

Wall Street Analyst Weigh In

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

Turning Point Brands Stock Up 4.4%

The company has a market capitalization of $1.22 billion, a P/E ratio of 27.03 and a beta of 0.97. The company has a debt-to-equity ratio of 0.65, a quick ratio of 4.16 and a current ratio of 5.67. The stock has a 50 day moving average price of $71.94 and a 200 day moving average price of $78.91.

Turning Point Brands (NYSE:TPB - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.23 earnings per share for the quarter, topping analysts' consensus estimates 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 company had revenue of $142.96 million for the quarter, compared to the consensus estimate of $129.56 million. During the same period in the previous year, the firm earned $0.98 EPS. The firm's quarterly revenue was up 22.6% on a year-over-year basis. Equities research analysts forecast that Turning Point Brands, Inc. will post 1.19 earnings per share for the current fiscal year.

Turning Point Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 9th. Shareholders of record on Friday, September 18th were given a $0.08 dividend. The ex-dividend date of this dividend was Friday, September 18th. This represents a $0.32 annualized dividend and a yield of 0.5%. Turning Point Brands's payout ratio is currently 13.73%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue increased its stake in shares of Turning Point Brands by 2.5% during the 3rd quarter. State of Alaska Department of Revenue now owns 6,963 shares of the company's stock worth $408,000 after purchasing an additional 171 shares during the last quarter. Copeland Capital Management LLC raised its holdings in shares of Turning Point Brands by 2.6% in the 3rd 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. GAMMA Investing LLC raised its holdings in shares of Turning Point Brands by 103.3% in the 3rd quarter. GAMMA Investing LLC now owns 681 shares of the company's stock worth $40,000 after purchasing an additional 346 shares during the period. Operose Advisors LLC purchased a new position in Turning Point Brands in the second quarter valued at approximately $42,000. Finally, Maple Rock Capital Partners Inc. lifted its stake 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 during the last quarter. 96.12% of the stock is currently 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.

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