Turning Point Brands (NYSE:TPB – Get Rating) had its price target decreased by Barclays from $38.00 to $28.00 in a report released on Wednesday, The Fly reports. Barclays currently has an overweight rating on the stock.
Several other brokerages have also weighed in on TPB. Cowen decreased their price objective on shares of Turning Point Brands from $65.00 to $45.00 in a report on Thursday, July 28th. B. Riley reduced their price target on shares of Turning Point Brands from $45.00 to $39.00 in a research report on Thursday, July 28th. TheStreet downgraded shares of Turning Point Brands from a b- rating to a c+ rating in a research report on Thursday, May 19th. Craig Hallum reduced their price target on shares of Turning Point Brands from $50.00 to $45.00 in a research report on Thursday, July 28th. Finally, Cowen reduced their price target on shares of Turning Point Brands from $65.00 to $45.00 in a research report on Thursday, July 28th.
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Turning Point Brands Price Performance
Shares of TPB stock opened at $23.24 on Wednesday. The firm has a market cap of $414.53 million, a P/E ratio of 11.23 and a beta of 0.45. The company has a debt-to-equity ratio of 3.25, a current ratio of 5.28 and a quick ratio of 2.94. Turning Point Brands has a 1-year low of $22.04 and a 1-year high of $52.17. The firm has a fifty day moving average of $26.31 and a two-hundred day moving average of $29.11.
Turning Point Brands (NYSE:TPB – Get Rating) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.04. The company had revenue of $102.90 million during the quarter, compared to analyst estimates of $105.86 million. Turning Point Brands had a net
margin of 9.87% and a return on equity of 42.69%. The firm's revenue for the quarter was down 16.1% compared to the same quarter last year. During the same period last year, the business earned $0.84 EPS. As a group, research analysts anticipate that Turning Point Brands will post 2.68 earnings per share for the current fiscal year.
Turning Point Brands Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 7th. Stockholders of record on Friday, September 16th will be given a $0.06 dividend. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.03%. Turning Point Brands's payout ratio is currently 11.59%.
Institutional Trading of Turning Point Brands
Several hedge funds have recently bought and sold shares of TPB. Northern Trust Corp lifted its position in Turning Point Brands by 0.7% in the 4th quarter. Northern Trust Corp now owns 138,538 shares of the company's stock valued at $5,235,000 after purchasing an additional 900 shares during the last quarter. BNP Paribas Arbitrage SA lifted its position in Turning Point Brands by 123.0% in the 4th quarter. BNP Paribas Arbitrage SA now owns 5,798 shares of the company's stock valued at $219,000 after purchasing an additional 3,198 shares during the last quarter. Renaissance Technologies LLC lifted its position in Turning Point Brands by 101.0% in the 4th quarter. Renaissance Technologies LLC now owns 96,797 shares of the company's stock valued at $3,657,000 after purchasing an additional 48,645 shares during the last quarter. ETF Managers Group LLC bought a new stake in Turning Point Brands in the 4th quarter valued at about $6,441,000. Finally, Loomis Sayles & Co. L P lifted its position in Turning Point Brands by 38.8% in the 4th quarter. Loomis Sayles & Co. L P now owns 272,304 shares of the company's stock valued at $10,288,000 after purchasing an additional 76,177 shares during the last quarter. 86.96% of the stock is currently owned by institutional investors.
Turning Point Brands Company Profile
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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 NewGen Products. The Zig-Zag Products segment markets and distributes rolling papers, tubes, finished cigars, make-your-own cigar wraps, and related products under the Zig-Zag brand.
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