Turning Point Brands, Inc. (NYSE:TPB) Given Consensus Recommendation of “Buy” by Brokerages

Turning Point Brands, Inc. (NYSE:TPB) has been given a consensus recommendation of “Buy” by the five brokerages that are covering the company, Marketbeat reports. Four research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $68.75.

Several research firms have recently commented on TPB. Roth Capital raised Turning Point Brands to a “strong-buy” rating in a report on Friday, November 8th. Benchmark increased their price objective on Turning Point Brands from $45.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. StockNews.com lowered Turning Point Brands from a “buy” rating to a “hold” rating in a report on Tuesday, February 4th. Roth Mkm reissued a “buy” rating and issued a $70.00 price objective on shares of Turning Point Brands in a report on Friday, January 10th. Finally, Oppenheimer assumed coverage on Turning Point Brands in a report on Thursday, November 14th. They issued an “outperform” rating and a $65.00 price objective for the company.

Institutional Trading of Turning Point Brands

Large investors have recently added to or reduced their stakes in the company. First Sabrepoint Capital Management LP acquired a new position in shares of Turning Point Brands in the third quarter worth $7,517,000. Northern Right Capital Management L.P. increased its stake in shares of Turning Point Brands by 356.6% in the fourth quarter. Northern Right Capital Management L.P. now owns 134,354 shares of the company’s stock worth $8,075,000 after acquiring an additional 104,931 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Turning Point Brands by 36.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 318,552 shares of the company’s stock worth $19,145,000 after acquiring an additional 84,552 shares during the last quarter. Invesco Ltd. increased its stake in shares of Turning Point Brands by 205.8% in the fourth quarter. Invesco Ltd. now owns 97,261 shares of the company’s stock worth $5,845,000 after acquiring an additional 65,457 shares during the last quarter. Finally, Portolan Capital Management LLC acquired a new position in shares of Turning Point Brands in the fourth quarter worth $3,817,000. 96.12% of the stock is owned by institutional investors and hedge funds.

Turning Point Brands Price Performance

Shares of Turning Point Brands stock opened at $69.73 on Tuesday. 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 has a twelve month low of $22.47 and a twelve month high of $70.57. The business’s fifty day moving average price is $60.79 and its 200 day moving average price is $51.16. The stock has a market capitalization of $1.23 billion, a P/E ratio of 27.67 and a beta of 0.65.

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.