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

Turning Point Brands, Inc. (NYSE:TPB) has been given a consensus rating of “Buy” by the six research firms that are currently covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $73.33.

Several research firms have recently weighed in on TPB. 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. Alliance Global Partners started coverage on Turning Point Brands in a research report on Monday, March 3rd. They set a “buy” rating and a $80.00 target price on the stock. StockNews.com lowered Turning Point Brands from a “buy” rating to a “hold” rating in a research note on Tuesday. Industrial Alliance Securities set a $85.00 price target on Turning Point Brands in a report on Thursday, March 6th. Finally, Craig Hallum raised their price objective on shares of Turning Point Brands from $60.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th.

Turning Point Brands Trading Up 2.6 %

NYSE:TPB opened at $58.41 on Friday. The firm has a market cap of $1.04 billion, a P/E ratio of 23.18 and a beta of 0.75. 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 has a 52 week low of $26.45 and a 52 week high of $72.54. The firm’s fifty day moving average is $62.71 and its 200-day moving average is $54.58.

Turning Point Brands Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 21st will be issued a dividend of $0.075 per share. This is an increase from Turning Point Brands’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Friday, March 21st. This represents a $0.30 annualized dividend and a yield of 0.51%. Turning Point Brands’s dividend payout ratio is presently 14.15%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Corsair Capital Management L.P. raised its holdings in shares of Turning Point Brands by 49.0% in the 3rd quarter. Corsair Capital Management L.P. now owns 30,412 shares of the company’s stock worth $1,312,000 after acquiring an additional 10,000 shares during the last quarter. Entropy Technologies LP bought a new stake in Turning Point Brands during the 4th quarter worth approximately $234,000. Pekin Hardy Strauss Inc. purchased a new stake in shares of Turning Point Brands in the third quarter worth approximately $1,260,000. 272 Capital LP bought a new position in shares of Turning Point Brands in the third quarter valued at approximately $1,488,000. Finally, Legato Capital Management LLC bought a new position in shares of Turning Point Brands in the fourth quarter valued at approximately $278,000. 96.12% of the stock is currently owned by institutional investors and hedge funds.

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.