Turning Point Brands (NYSE:TPB) Upgraded to Buy at StockNews.com

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

Several other equities analysts also recently commented on the company. Alliance Global Partners initiated coverage on shares of Turning Point Brands in a research report on Monday. They issued a “buy” rating and a $80.00 price target on the stock. Benchmark increased their price objective on shares of Turning Point Brands from $45.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Roth Mkm restated a “buy” rating and set a $70.00 target price on shares of Turning Point Brands in a research report on Friday, January 10th. Craig Hallum increased their price target on Turning Point Brands from $60.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Finally, Roth Capital upgraded shares of Turning Point Brands to a “strong-buy” rating in a report on Friday, November 8th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $71.00.

Turning Point Brands Stock Performance

TPB opened at $70.30 on Monday. Turning Point Brands has a 52-week low of $25.79 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. The stock has a 50-day moving average of $62.50 and a 200-day moving average of $53.43. The company has a market cap of $1.24 billion, a PE ratio of 27.90 and a beta of 0.65.

Turning Point Brands Increases Dividend

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

Hedge Funds Weigh In On Turning Point Brands

Several institutional investors and hedge funds have recently added to or reduced their stakes in TPB. Sei Investments Co. increased its position in Turning Point Brands by 0.4% during the 4th quarter. Sei Investments Co. now owns 78,087 shares of the company’s stock valued at $4,693,000 after purchasing an additional 283 shares during the period. Martingale Asset Management L P boosted its holdings in Turning Point Brands by 1.4% in the third quarter. Martingale Asset Management L P now owns 24,686 shares of the company’s stock worth $1,065,000 after acquiring an additional 329 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Turning Point Brands by 3.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,739 shares of the company’s stock valued at $585,000 after purchasing an additional 330 shares during the period. Principal Financial Group Inc. lifted its position in Turning Point Brands by 7.1% in the 4th quarter. Principal Financial Group Inc. now owns 7,247 shares of the company’s stock valued at $436,000 after acquiring an additional 482 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in 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 worth $142,000 after buying an additional 532 shares in the last quarter. 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.