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 released on Monday.

A number of other equities analysts also recently commented on the stock. Roth Capital raised shares of Turning Point Brands to a “strong-buy” rating in a report on Friday, November 8th. Oppenheimer initiated coverage on shares of Turning Point Brands in a report on Thursday, November 14th. They set an “outperform” rating and a $65.00 price objective for the company. Craig Hallum lifted their price target 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. Roth Mkm reissued a “buy” rating and set a $70.00 price target on shares of Turning Point Brands in a report on Friday, January 10th. Finally, Alliance Global Partners initiated coverage on shares of Turning Point Brands in a report on Monday. They set a “buy” rating and a $80.00 price target for the company. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $71.00.

Turning Point Brands Price Performance

NYSE:TPB opened at $67.02 on Monday. The company has a 50-day moving average of $62.82 and a 200-day moving average of $53.72. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of 26.59 and a beta of 0.74. Turning Point Brands has a 52 week low of $26.14 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 business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 21st will be paid a $0.075 dividend. The ex-dividend date is Friday, March 21st. This is an increase from Turning Point Brands’s previous quarterly dividend of $0.07. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.45%. Turning Point Brands’s payout ratio is currently 11.90%.

Hedge Funds Weigh In On Turning Point Brands

Institutional investors have recently modified their holdings of the stock. Virtus Fund Advisers LLC bought a new position in shares of Turning Point Brands in the fourth quarter worth about $48,000. USA Financial Formulas acquired a new stake in shares of Turning Point Brands during the 4th quarter worth approximately $73,000. Sunbelt Securities Inc. acquired a new stake in shares of Turning Point Brands during the 4th quarter worth approximately $96,000. Tower Research Capital LLC TRC grew its position in shares of Turning Point Brands by 29.0% during the 4th 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 during the period. Finally, Baird Financial Group Inc. acquired a new stake in shares of Turning Point Brands during the 4th quarter worth approximately $201,000. 96.12% of the stock is owned by institutional investors.

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.