Turning Point Brands, Inc. (NYSE:TPB) Receives $73.33 Average Price Target from Analysts

Turning Point Brands, Inc. (NYSE:TPB) has received a consensus rating of “Buy” from the six ratings firms that are currently covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $73.33.

A number of analysts recently weighed in on TPB shares. Roth Mkm reaffirmed a “buy” rating and issued a $70.00 price objective on shares of Turning Point Brands in a report on Friday, January 10th. Industrial Alliance Securities set a $85.00 price objective on Turning Point Brands in a report on Thursday, March 6th. StockNews.com cut shares of Turning Point Brands from a “buy” rating to a “hold” rating in a report on Tuesday, March 11th. Finally, Alliance Global Partners initiated coverage on Turning Point Brands in a research note on Monday, March 3rd. They issued a “buy” rating and a $80.00 price target on the stock.

Institutional Trading of Turning Point Brands

A number of institutional investors have recently bought and sold shares of the company. First Sabrepoint Capital Management LP bought a new position in shares of Turning Point Brands during the 3rd quarter valued at $7,517,000. Northern Right Capital Management L.P. boosted its holdings in Turning Point Brands by 356.6% in the 4th quarter. Northern Right Capital Management L.P. now owns 134,354 shares of the company’s stock valued at $8,075,000 after purchasing an additional 104,931 shares during the period. Arrowstreet Capital Limited Partnership grew its position in Turning Point Brands by 36.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 318,552 shares of the company’s stock worth $19,145,000 after buying an additional 84,552 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Turning Point Brands by 205.8% during the 4th quarter. Invesco Ltd. now owns 97,261 shares of the company’s stock worth $5,845,000 after purchasing an additional 65,457 shares in the last quarter. Finally, Portolan Capital Management LLC acquired a new stake in Turning Point Brands during the fourth quarter worth $3,817,000. Institutional investors and hedge funds own 96.12% of the company’s stock.

Turning Point Brands Price Performance

Shares of NYSE:TPB opened at $55.78 on Wednesday. The company has a quick ratio of 1.78, a current ratio of 4.21 and a debt-to-equity ratio of 1.33. The firm has a 50-day simple moving average of $62.47 and a 200 day simple moving average of $57.30. The company has a market cap of $990.69 million, a PE ratio of 22.13 and a beta of 0.70. Turning Point Brands has a fifty-two week low of $26.45 and a fifty-two week high of $72.54.

Turning Point Brands Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 21st were given a $0.075 dividend. This is an increase from Turning Point Brands’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend was Friday, March 21st. This represents a $0.30 dividend on an annualized basis and a yield of 0.54%. Turning Point Brands’s dividend payout ratio is presently 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.