Turning Point Brands (NYSE:TPB) Trading Down 7.4% - What's Next?

Key Points

• Turning Point Brands' stock price fell 7.4% during mid-day trading, closing at $95.33 after reaching a low of $94.93.
• Several analysts have downgraded Turning Point Brands, with Zacks Research reducing its rating from "strong-buy" to "hold" and Wall Street Zen also issuing a "hold" rating.
• The company recently announced a quarterly dividend of $0.075 per share, with a 0.3% annualized dividend yield.

Turning Point Brands, Inc. (NYSE:TPB - Get Free Report)'s share price fell 7.4% during mid-day trading on Wednesday . The company traded as low as $94.93 and last traded at $95.33. 258,023 shares were traded during mid-day trading, a decline of 7% from the average session volume of 278,015 shares. The stock had previously closed at $102.95.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TPB. Wall Street Zen downgraded shares of Turning Point Brands from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Needham & Company LLC began coverage on shares of Turning Point Brands in a research note on Friday, August 1st. They issued a "hold" rating on the stock. Zacks Research downgraded shares of Turning Point Brands from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 12th. Finally, Oppenheimer raised their target price on shares of Turning Point Brands from $85.00 to $98.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $78.83.

Turning Point Brands Price Performance

The company has a debt-to-equity ratio of 1.30, a current ratio of 4.22 and a quick ratio of 2.67. The firm has a market cap of $1.72 billion, a PE ratio of 39.88 and a beta of 0.76. The firm has a 50-day simple moving average of $93.42 and a 200 day simple moving average of $76.05.

Turning Point Brands (NYSE:TPB - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.19. The firm had revenue of $116.63 million during the quarter, compared to analyst estimates of $107.30 million. Turning Point Brands had a return on equity of 25.32% and a net margin of 10.34%.Turning Point Brands's quarterly revenue was up 25.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.68 EPS. As a group, equities analysts expect that Turning Point Brands, Inc. will post 2.59 EPS for the current year.

Turning Point Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Friday, September 19th will be given a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Friday, September 19th. Turning Point Brands's payout ratio is currently 12.55%.

Institutional Investors Weigh In On Turning Point Brands

Large investors have recently bought and sold shares of the business. GAMMA Investing LLC increased its holdings in Turning Point Brands by 90.7% in the 2nd quarter. GAMMA Investing LLC now owns 328 shares of the company's stock worth $25,000 after buying an additional 156 shares in the last quarter. Briaud Financial Planning Inc bought a new stake in Turning Point Brands in the 2nd quarter worth about $31,000. Sunbelt Securities Inc. bought a new stake in Turning Point Brands in the 4th quarter worth about $96,000. Canada Pension Plan Investment Board bought a new stake in Turning Point Brands in the 2nd quarter worth about $129,000. Finally, Lazard Asset Management LLC increased its holdings in Turning Point Brands by 33.5% in the 2nd quarter. Lazard Asset Management LLC now owns 1,842 shares of the company's stock worth $139,000 after buying an additional 462 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.

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