Turning Point Brands, Inc. (NYSE:TPB - Get Free Report)'s share price dropped 5.1% during mid-day trading on Friday . The stock traded as low as $59.01 and last traded at $59.21. Approximately 33,399 shares traded hands during trading, a decline of 74% from the average daily volume of 126,963 shares. The stock had previously closed at $62.41.
Wall Street Analyst Weigh In
TPB has been the topic of a number of recent research reports. StockNews.com downgraded shares of Turning Point Brands from a "buy" rating to a "hold" rating in a report on Tuesday. Craig Hallum raised their target price on Turning Point Brands from $60.00 to $75.00 and gave the company a "buy" rating in a report on Thursday, December 5th. Roth Mkm began coverage on Turning Point Brands in a research note on Thursday, September 19th. They set a "buy" rating and a $50.00 price target for the company. Benchmark increased their price objective on Turning Point Brands from $45.00 to $65.00 and gave the company a "buy" rating in a report on Tuesday, November 12th. Finally, Oppenheimer started coverage on Turning Point Brands in a report on Thursday, November 14th. They issued an "outperform" rating and a $65.00 target price for the company. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Turning Point Brands presently has an average rating of "Buy" and a consensus price target of $63.75.
Read Our Latest Stock Analysis on TPB
Turning Point Brands Price Performance
The company has a market cap of $1.07 billion, a P/E ratio of 24.02 and a beta of 0.66. The stock has a 50-day simple moving average of $53.10 and a 200 day simple moving average of $42.50. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.78 and a current ratio of 4.21.
Turning Point Brands (NYSE:TPB - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.68 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.67 by $0.01. The company had revenue of $105.62 million during the quarter, compared to analysts' expectations of $100.71 million. Turning Point Brands had a net margin of 11.63% and a return on equity of 33.14%. The business's revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.69 EPS. On average, 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 disclosed a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 20th will be paid a dividend of $0.07 per share. The ex-dividend date is Friday, December 20th. This represents a $0.28 annualized dividend and a yield of 0.46%. Turning Point Brands's dividend payout ratio is currently 11.11%.
Institutional Trading of Turning Point Brands
Several large investors have recently added to or reduced their stakes in TPB. Martingale Asset Management L P increased its stake in shares of Turning Point Brands by 1.4% in the third quarter. Martingale Asset Management L P now owns 24,686 shares of the company's stock valued at $1,065,000 after buying an additional 329 shares in the last quarter. Marshall Wace LLP grew its holdings in Turning Point Brands by 0.3% during the 2nd quarter. Marshall Wace LLP now owns 119,954 shares of the company's stock worth $3,849,000 after acquiring an additional 367 shares during the last quarter. Principal Financial Group Inc. increased its position in Turning Point Brands by 8.9% in the 2nd quarter. Principal Financial Group Inc. now owns 8,456 shares of the company's stock valued at $271,000 after acquiring an additional 693 shares in the last quarter. Access Investment Management LLC raised its stake in shares of Turning Point Brands by 0.6% in the second quarter. Access Investment Management LLC now owns 121,385 shares of the company's stock worth $3,895,000 after acquiring an additional 745 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Turning Point Brands by 6.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,637 shares of the company's stock worth $371,000 after purchasing an additional 800 shares in the last quarter. 96.12% of the stock is owned by institutional investors.
Turning Point Brands Company Profile
(
Get Free Report)
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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