Turning Point Brands (NYSE:TPB) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Turning Point Brands (NYSE:TPB) from a hold rating to a buy rating in a research report report published on Friday morning.

Several other research firms have also recently weighed in on TPB. Alliance Global Partners started coverage on shares of Turning Point Brands in a research report on Monday, March 3rd. They set a “buy” rating and a $80.00 price objective for the company. Industrial Alliance Securities set a $85.00 price target on Turning Point Brands in a report on Thursday, March 6th. Finally, Roth Mkm reissued a “buy” rating and issued a $70.00 price objective on shares of Turning Point Brands in a research report on Friday, January 10th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $73.33.

Turning Point Brands Stock Up 0.8 %

Shares of NYSE TPB opened at $57.72 on Friday. The stock has a market capitalization of $1.03 billion, a P/E ratio of 22.90 and a beta of 0.70. The stock’s fifty day moving average is $61.56 and its 200 day moving average is $57.93. Turning Point Brands has a 52 week low of $27.48 and a 52 week high of $72.54. 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 Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 21st were given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 0.52%. This is a positive change from Turning Point Brands’s previous quarterly dividend of $0.07. The ex-dividend date was Friday, March 21st. Turning Point Brands’s payout ratio is presently 14.15%.

Institutional Inflows and Outflows

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

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.