Turning Point Brands, Inc. (NYSE:TPB) Given Average Rating of “Buy” by Analysts

Shares of Turning Point Brands, Inc. (NYSE:TPB) have received an average rating of “Buy” from the six analysts that are presently covering the firm, Marketbeat.com reports. Five equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $73.33.

Several equities analysts recently issued reports on the company. Industrial Alliance Securities set a $85.00 price target on Turning Point Brands in a report on Thursday, March 6th. Alliance Global Partners assumed coverage on Turning Point Brands in a report on Monday, March 3rd. They issued a “buy” rating and a $80.00 price target for the company. Roth Mkm reaffirmed a “buy” rating and issued a $70.00 price objective on shares of Turning Point Brands in a research report on Friday, January 10th. Finally, StockNews.com cut shares of Turning Point Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, March 11th.

Turning Point Brands Price Performance

Shares of Turning Point Brands stock opened at $55.09 on Wednesday. The firm’s 50-day moving average price is $62.93 and its two-hundred day moving average price is $56.99. Turning Point Brands has a 1-year low of $26.45 and a 1-year high of $72.54. The stock has a market capitalization of $978.49 million, a price-to-earnings ratio of 21.86 and a beta of 0.70. The company has a current ratio of 4.21, a quick ratio of 1.78 and a debt-to-equity ratio of 1.33.

Turning Point Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 21st will be given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date is Friday, March 21st. This is a boost from Turning Point Brands’s previous quarterly dividend of $0.07. Turning Point Brands’s dividend payout ratio is 14.15%.

Institutional Trading of Turning Point Brands

Several institutional investors and hedge funds have recently modified their holdings of TPB. Virtus Fund Advisers LLC purchased a new position in Turning Point Brands in the fourth quarter worth $48,000. USA Financial Formulas purchased a new stake in Turning Point Brands during the 4th quarter worth about $73,000. Sunbelt Securities Inc. purchased a new position in Turning Point Brands during the fourth quarter valued at approximately $96,000. Tower Research Capital LLC TRC raised its position in shares of Turning Point Brands by 29.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,364 shares of the company’s stock worth $142,000 after buying an additional 532 shares in the last quarter. Finally, Baird Financial Group Inc. purchased a new stake in shares of Turning Point Brands in the 4th quarter valued at about $201,000. 96.12% of the stock is owned by hedge funds and other 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.