Turning Point Brands (NYSE:TPB) Stock Price Down 2.8% – Should You Sell?

Shares of Turning Point Brands, Inc. (NYSE:TPB) were down 2.8% on Monday . The company traded as low as $58.13 and last traded at $59.00. Approximately 26,774 shares were traded during trading, a decline of 80% from the average daily volume of 131,170 shares. The stock had previously closed at $60.71.

Analyst Ratings Changes

TPB has been the topic of a number of recent research reports. Craig Hallum increased their target price on Turning Point Brands from $60.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Oppenheimer began 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 on the stock. Roth Mkm reaffirmed a “buy” rating and issued a $70.00 target price (up from $55.00) on shares of Turning Point Brands in a report on Tuesday, December 17th. StockNews.com raised shares of Turning Point Brands from a “hold” rating to a “buy” rating in a research report on Friday. Finally, Benchmark boosted their target price on Turning Point Brands from $45.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $68.75.

Turning Point Brands Stock Performance

The company has a market cap of $1.02 billion, a P/E ratio of 22.87 and a beta of 0.66. The company has a quick ratio of 1.78, a current ratio of 4.21 and a debt-to-equity ratio of 1.33. The business has a fifty day simple moving average of $58.08 and a two-hundred day simple moving average of $45.40.

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 during the quarter, compared to analyst estimates of $100.71 million. Turning Point Brands had a net margin of 11.63% and a return on equity of 33.14%. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.69 earnings per share. On average, sell-side analysts anticipate 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, January 10th. Shareholders of record on Friday, December 20th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend is Friday, December 20th. Turning Point Brands’s dividend payout ratio is presently 11.11%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Copeland Capital Management LLC bought a new position in shares of Turning Point Brands in the third quarter worth about $61,000. The Manufacturers Life Insurance Company bought a new position in Turning Point Brands in the 2nd quarter worth approximately $209,000. Magnetar Financial LLC purchased a new stake in Turning Point Brands during the 2nd quarter valued at approximately $212,000. Aigen Investment Management LP bought a new stake in shares of Turning Point Brands during the third quarter valued at approximately $221,000. Finally, Moran Wealth Management LLC purchased a new position in shares of Turning Point Brands in the third quarter worth $236,000. 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.