Turning Point Brands (NYSE:TPB) Stock Price Breaks Above Fifty Day Moving Average – Here’s Why

Turning Point Brands, Inc. (NYSE:TPB)’s stock price crossed above its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $66.74 and traded as high as $67.96. Turning Point Brands shares last traded at $67.40, with a volume of 274,935 shares changing hands.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Oppenheimer reduced their price target on Turning Point Brands from $130.00 to $90.00 and set an “outperform” rating for the company in a research report on Tuesday, September 22nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Turning Point Brands in a research report on Friday, August 28th. Compass Point set a $116.00 price objective on Turning Point Brands in a research report on Monday, August 10th. Wall Street Zen upgraded Turning Point Brands from a “strong sell” rating to a “sell” rating in a research note on Monday, August 10th. Finally, BTIG Research reissued a “buy” rating on shares of Turning Point Brands in a report on Monday, August 10th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Turning Point Brands has a consensus rating of “Moderate Buy” and a consensus price target of $109.00.

Turning Point Brands Stock Up 1.4%

The company has a debt-to-equity ratio of 0.65, a quick ratio of 4.16 and a current ratio of 5.67. The company’s 50-day moving average price is $66.74 and its 200 day moving average price is $86.52. The stock has a market capitalization of $1.31 billion, a P/E ratio of 28.93 and a beta of 1.08.

Turning Point Brands (NYSE:TPB) last issued its earnings results on Tuesday, August 4th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.11. Turning Point Brands had a net margin of 8.78% and a return on equity of 11.35%. The company had revenue of $142.96 million during the quarter, compared to the consensus estimate of $129.56 million. During the same quarter in the prior year, the firm posted $0.98 EPS. Turning Point Brands’s quarterly revenue was up 22.6% compared to the same quarter last year. As a group, equities analysts expect that Turning Point Brands, Inc. will post 1.19 earnings per share for the current year.

Turning Point Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 8th. Shareholders of record on Friday, December 18th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, December 18th. This represents a $0.32 dividend on an annualized basis and a yield of 0.5%. Turning Point Brands’s dividend payout ratio (DPR) is currently 13.73%.

Hedge Funds Weigh In On Turning Point Brands

Large investors have recently made changes to their positions in the business. BlackRock Inc. bought a new position in shares of Turning Point Brands in the second quarter worth about $137,273,000. First Trust Advisors LP boosted its stake in Turning Point Brands by 39.6% in the 1st quarter. First Trust Advisors LP now owns 689,905 shares of the company’s stock worth $59,877,000 after purchasing an additional 195,643 shares during the period. Maple Rock Capital Partners Inc. grew its stake in Turning Point Brands by 57.5% during the second quarter. Maple Rock Capital Partners Inc. now owns 686,800 shares of the company’s stock valued at $58,248,000 after acquiring an additional 250,800 shares in the last quarter. Bank of America Corp DE purchased a new position in Turning Point Brands during the second quarter valued at $47,278,000. Finally, Copeland Capital Management LLC grew its stake in Turning Point Brands by 2.6% during the third quarter. Copeland Capital Management LLC now owns 708,507 shares of the company’s stock valued at $41,589,000 after acquiring an additional 18,184 shares in the last quarter. 96.12% of the stock is currently owned by hedge funds and other institutional investors.

Turning Point Brands Company Profile

Turning Point Brands, Inc is a consumer products company focused on the manufacture, marketing and distribution of branded products for adult consumers. Its portfolio includes rolling papers, wraps, cigarette papers, smoking accessories, smokeless tobacco and modern oral nicotine products.

The company’s principal brands include Zig-Zag, a long-standing brand of rolling papers and related accessories, and Stoker’s, which offers moist smokeless tobacco and other tobacco products. Turning Point Brands also develops and markets newer nicotine products, including nicotine pouches, through its NewGen Products business.

Turning Point Brands serves retailers and consumers primarily in the United States through convenience stores, tobacco and specialty retailers, mass merchants, e-commerce channels and other distribution networks.