Turning Point Brands (NYSE:TPB) Now Covered by Analysts at Alliance Global Partners

Alliance Global Partners began coverage on shares of Turning Point Brands (NYSE:TPB) in a research note published on Monday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $80.00 target price on the stock.

A number of other research analysts have also recently issued reports on TPB. Craig Hallum lifted their price objective on shares of Turning Point Brands from $60.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, December 5th. StockNews.com downgraded Turning Point Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, February 4th. Oppenheimer started coverage on Turning Point Brands in a research note on Thursday, November 14th. They set an “outperform” rating and a $65.00 price target for the company. Roth Capital raised Turning Point Brands to a “strong-buy” rating in a research report on Friday, November 8th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $70.00 target price on shares of Turning Point Brands in a research report on Friday, January 10th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Turning Point Brands presently has an average rating of “Buy” and an average target price of $71.00.

Turning Point Brands Stock Performance

NYSE TPB opened at $70.30 on Monday. The company has a fifty day simple moving average of $62.50 and a 200 day simple moving average of $53.43. Turning Point Brands has a 12-month low of $25.79 and a 12-month high of $72.54. The company has a current ratio of 4.21, a quick ratio of 1.78 and a debt-to-equity ratio of 1.33. The company has a market cap of $1.24 billion, a P/E ratio of 27.90 and a beta of 0.65.

Turning Point Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 21st will be given a $0.075 dividend. This is a positive change from Turning Point Brands’s previous quarterly dividend of $0.07. The ex-dividend date is Friday, March 21st. This represents a $0.30 annualized dividend and a yield of 0.43%. Turning Point Brands’s payout ratio is currently 11.11%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TPB. Corsair Capital Management L.P. lifted its position in shares of Turning Point Brands by 49.0% during the 3rd quarter. Corsair Capital Management L.P. now owns 30,412 shares of the company’s stock valued at $1,312,000 after buying an additional 10,000 shares during the last quarter. Entropy Technologies LP purchased a new stake in Turning Point Brands during the fourth quarter valued at about $234,000. Pekin Hardy Strauss Inc. purchased a new stake in Turning Point Brands during the third quarter valued at about $1,260,000. 272 Capital LP purchased a new stake in Turning Point Brands during the third quarter valued at about $1,488,000. Finally, Legato Capital Management LLC purchased a new stake in Turning Point Brands during the fourth quarter valued at about $278,000. 96.12% of the stock is currently owned by hedge funds and other institutional investors.

About Turning Point Brands

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.