Turning Point Brands (NYSE:TPB) Trading Down 8.8% - What's Next?

Key Points

• Turning Point Brands (NYSE: TPB) fell 8.8% in midday trading, dropping to around $79.92 after opening the session with heavier selling and below-average volume.
• The company recently reported better-than-expected quarterly results, with EPS of $0.76 versus estimates of $0.68 and revenue of $124.28 million, up 16.8% year over year.
• Analyst sentiment is mixed: TPB currently has an average Hold rating and a consensus price target of $118.75, though some firms have recently upgraded the stock.

Turning Point Brands, Inc. (NYSE:TPB - Get Free Report)'s stock price fell 8.8% during mid-day trading on Monday . The stock traded as low as $80.05 and last traded at $79.9160. 150,040 shares changed hands during mid-day trading, a decline of 66% from the average session volume of 435,309 shares. The stock had previously closed at $87.65.

Analysts Set New Price Targets

TPB has been the topic of a number of research analyst reports. Weiss Ratings cut Turning Point Brands from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, June 2nd. Needham & Company LLC upgraded Turning Point Brands from a "hold" rating to a "buy" rating and set a $125.00 price objective for the company in a report on Friday, May 8th. Finally, Wall Street Zen upgraded Turning Point Brands from a "strong sell" rating to a "sell" rating in a report on Saturday, June 6th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Turning Point Brands currently has an average rating of "Hold" and a consensus price target of $118.75.

Turning Point Brands Trading Down 8.2%

The stock has a market capitalization of $1.56 billion, a P/E ratio of 27.56 and a beta of 0.92. The stock's fifty day moving average price is $85.91 and its two-hundred day moving average price is $97.39. The company has a current ratio of 5.87, a quick ratio of 4.05 and a debt-to-equity ratio of 0.76.

Turning Point Brands (NYSE:TPB - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.68 by $0.08. The company had revenue of $124.28 million for the quarter, compared to analyst estimates of $115.67 million. Turning Point Brands had a net margin of 11.53% and a return on equity of 16.54%. The firm's quarterly revenue was up 16.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.91 EPS. Equities research analysts forecast that Turning Point Brands, Inc. will post 1.39 EPS for the current year.

Turning Point Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Friday, June 19th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Thursday, June 18th. Turning Point Brands's dividend payout ratio (DPR) is 10.88%.

Insider Activity at Turning Point Brands

In other news, CAO Brian Wigginton sold 4,000 shares of Turning Point Brands stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $91.67, for a total value of $366,680.00. Following the transaction, the chief accounting officer owned 9,230 shares in the company, valued at approximately $846,114.10. The trade was a 30.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 5.40% of the company's stock.

Hedge Funds Weigh In On Turning Point Brands

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Apis Capital Advisors LLC increased its holdings in Turning Point Brands by 186.2% during the 4th quarter. Apis Capital Advisors LLC now owns 164,377 shares of the company's stock valued at $17,818,000 after purchasing an additional 106,948 shares during the period. Copeland Capital Management LLC raised its position in Turning Point Brands by 29,795.8% during the 4th quarter. Copeland Capital Management LLC now owns 204,188 shares of the company's stock valued at $22,134,000 after purchasing an additional 203,505 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Turning Point Brands by 73.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 49,970 shares of the company's stock worth $4,940,000 after buying an additional 21,131 shares during the period. Bronte Capital Management Pty Ltd. purchased a new stake in Turning Point Brands in the 4th quarter worth approximately $2,642,000. Finally, Crown Advisors Management Inc. grew its position in shares of Turning Point Brands by 60.0% in the 3rd quarter. Crown Advisors Management Inc. now owns 40,000 shares of the company's stock worth $3,954,000 after buying an additional 15,000 shares during the last quarter. 96.12% of the stock is currently owned by institutional investors.

Turning Point Brands Company Profile

Turning Point Brands, Inc NYSE: TPB is a U.S.-based consumer products company focused on the manufacture, marketing and distribution of smokeless tobacco, vaping and cigar products. Headquartered in Old Hickory, Tennessee, the company serves retail outlets across all 50 states through a direct-store-delivery network and select third-party distributors. Turning Point Brands operates two reporting segments—Smokeless Products and Cigar—and leverages its logistics capabilities to offer a broad portfolio of brands and SKUs.

In its Smokeless Products segment, Turning Point Brands produces moist smokeless tobacco under leading brand names such as Grizzly, Kodiak and Stoker's.

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