Analysts Set Turning Point Brands, Inc. (NYSE:TPB) Price Target at $73.33

Shares of Turning Point Brands, Inc. (NYSE:TPB) have been assigned an average rating of “Buy” from the six ratings firms that are presently covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $73.33.

A number of brokerages recently issued reports on TPB. 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. StockNews.com cut Turning Point Brands from a “buy” rating to a “hold” rating in a report on Tuesday, March 11th. Craig Hallum upped their target price on Turning Point Brands from $60.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Alliance Global Partners initiated 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. Finally, Industrial Alliance Securities set a $85.00 price target on Turning Point Brands in a report on Thursday, March 6th.

Hedge Funds Weigh In On Turning Point Brands

Several hedge funds and other institutional investors have recently modified their holdings of the company. Aigen Investment Management LP purchased a new position in Turning Point Brands in the third quarter valued at approximately $221,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Turning Point Brands in the third quarter worth $326,000. Moran Wealth Management LLC purchased a new position in shares of Turning Point Brands in the 3rd quarter valued at $236,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Turning Point Brands by 1.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 145,281 shares of the company’s stock valued at $6,269,000 after acquiring an additional 2,442 shares in the last quarter. Finally, Pekin Hardy Strauss Inc. purchased a new stake in Turning Point Brands during the 3rd quarter worth $1,260,000. 96.12% of the stock is owned by institutional investors and hedge funds.

Turning Point Brands Price Performance

Turning Point Brands stock opened at $57.97 on Friday. The stock has a market capitalization of $1.03 billion, a P/E ratio of 23.00 and a beta of 0.75. Turning Point Brands has a 12-month low of $26.45 and a 12-month high of $72.54. The company has a debt-to-equity ratio of 1.33, a current ratio of 4.21 and a quick ratio of 1.78. The firm’s 50-day moving average is $62.73 and its two-hundred day moving average is $54.93.

Turning Point Brands Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 21st will be given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date of this dividend is Friday, March 21st. This is an increase from Turning Point Brands’s previous quarterly dividend of $0.07. Turning Point Brands’s payout ratio is 14.15%.

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.