Turning Point Brands (NYSE:TPB) Trading Down 5.1% – Should You Sell?

Turning Point Brands, Inc. (NYSE:TPB) fell 5.1% on Friday . The company traded as low as $59.01 and last traded at $59.21. 33,399 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 126,963 shares. The stock had previously closed at $62.41.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Oppenheimer assumed coverage on shares of Turning Point Brands in a research report on Thursday, November 14th. They set an “outperform” rating and a $65.00 price objective for the company. Roth Capital upgraded shares of Turning Point Brands to a “strong-buy” rating in a report on Friday, November 8th. StockNews.com cut Turning Point Brands from a “buy” rating to a “hold” rating in a report on Tuesday, December 10th. Benchmark increased their price objective on Turning Point Brands from $45.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Finally, Roth Mkm started coverage on Turning Point Brands in a report on Thursday, September 19th. They issued a “buy” rating and a $50.00 target price on the stock. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Turning Point Brands has a consensus rating of “Buy” and an average price target of $63.75.

Turning Point Brands Price Performance

The company has a debt-to-equity ratio of 1.33, a current ratio of 4.21 and a quick ratio of 1.78. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of 24.02 and a beta of 0.66. The stock’s fifty day moving average price is $53.10 and its 200-day moving average price is $42.50.

Turning Point Brands (NYSE:TPB) last announced its earnings results on Thursday, November 7th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.01. The company had revenue of $105.62 million for the quarter, compared to the consensus estimate of $100.71 million. Turning Point Brands had a net margin of 11.63% and a return on equity of 33.14%. The company’s revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.69 EPS. Equities research analysts predict that Turning Point Brands, Inc. will post 2.59 EPS for the current fiscal year.

Turning Point Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 20th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend is Friday, December 20th. Turning Point Brands’s dividend payout ratio is currently 11.11%.

Hedge Funds Weigh In On Turning Point Brands

Institutional investors and hedge funds have recently bought and sold shares of the business. Copeland Capital Management LLC purchased a new stake in shares of Turning Point Brands in the third quarter worth approximately $61,000. SG Americas Securities LLC acquired a new stake in Turning Point Brands during the second quarter valued at $129,000. The Manufacturers Life Insurance Company purchased a new position in Turning Point Brands in the second quarter valued at about $209,000. Magnetar Financial LLC acquired a new position in Turning Point Brands in the 2nd quarter worth about $212,000. Finally, Aigen Investment Management LP purchased a new stake in shares of Turning Point Brands during the 3rd quarter worth about $221,000. Hedge funds and other institutional investors own 96.12% of the company’s stock.

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.