Turning Point Brands (NYSE:TPB) Reaches New 12-Month Low – Time to Sell?

Shares of Turning Point Brands, Inc. (NYSE:TPB) hit a new 52-week low during trading on Monday . The stock traded as low as $61.00 and last traded at $62.5560, with a volume of 89448 shares. The stock had previously closed at $68.14.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Compass Point set a $116.00 price target on shares of Turning Point Brands in a report on Monday, August 10th. 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. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Turning Point Brands in a research report on Friday, August 28th. Finally, BTIG Research reaffirmed a “buy” rating on shares of Turning Point Brands in a research note 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.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $115.67.

Turning Point Brands Stock Down 11.5%

The firm’s 50 day simple moving average is $79.95 and its 200-day simple moving average is $83.19. 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 stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of 25.61 and a beta of 0.94.

Turning Point Brands (NYSE:TPB) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.11. The company had revenue of $142.96 million during the quarter, compared to analysts’ expectations of $129.56 million. Turning Point Brands had a return on equity of 11.35% and a net margin of 8.78%.Turning Point Brands’s revenue for the quarter was up 22.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.98 EPS. Equities analysts expect that Turning Point Brands, Inc. will post 1.23 earnings per share for the current fiscal year.

Turning Point Brands Announces Dividend

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

Hedge Funds Weigh In On Turning Point Brands

Hedge funds and other institutional investors have recently made changes to their positions in the company. Operose Advisors LLC acquired a new position in Turning Point Brands during the second quarter worth $42,000. Covestor Ltd grew its position in shares of Turning Point Brands by 16.3% in the 4th quarter. Covestor Ltd now owns 663 shares of the company’s stock valued at $72,000 after acquiring an additional 93 shares during the period. Fifth Third Bancorp bought a new position in shares of Turning Point Brands in the 1st quarter valued at about $126,000. Quantbot Technologies LP acquired a new position in shares of Turning Point Brands during the 2nd quarter worth about $209,000. Finally, Bessemer Group Inc. raised its holdings in shares of Turning Point Brands by 31.0% in the 1st quarter. Bessemer Group Inc. now owns 2,845 shares of the company’s stock valued at $247,000 after purchasing an additional 674 shares during the period. 96.12% of the stock is owned by institutional investors.

About Turning Point Brands

Turning Point Brands, Inc is a consumer-products company focused on branded products for the tobacco, smoking-accessory and modern oral categories. Its portfolio includes rolling papers, wraps, smokeless tobacco, nicotine pouches and related products marketed under established brands.

The company’s principal brands include Zig-Zag, which offers rolling papers, cones, wraps and smoking accessories; Stoker’s, known for smokeless tobacco products; and FRE, a brand of nicotine pouches. Turning Point Brands also develops and distributes other alternative and specialty products through its brand portfolio.

Turning Point Brands sells its products primarily through convenience stores, tobacco and vape retailers, specialty retailers, distributors, e-commerce channels and other consumer outlets in the United States, with some products available internationally.