Turning Point Brands (NYSE:TPB) Sets New 12-Month High – Still a Buy?

Turning Point Brands, Inc. (NYSE:TPB)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $70.99 and last traded at $70.44, with a volume of 45178 shares changing hands. The stock had previously closed at $69.63.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on TPB shares. Oppenheimer started coverage on Turning Point Brands in a research report on Thursday, November 14th. They set an “outperform” rating and a $65.00 price target for the company. Roth Capital upgraded Turning Point Brands to a “strong-buy” rating in a research report on Friday, November 8th. Craig Hallum boosted their price target on Turning Point Brands from $60.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. StockNews.com lowered Turning Point Brands from a “buy” rating to a “hold” rating in a research report on Tuesday, February 4th. Finally, Roth Mkm reiterated a “buy” rating and set a $70.00 price target on shares of Turning Point Brands in a research report on Friday, January 10th. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $68.75.

Turning Point Brands Stock Up 1.1 %

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 price of $60.79 and a 200 day moving average price of $51.16. The company has a market cap of $1.25 billion, a P/E ratio of 27.93 and a beta of 0.65.

Institutional Trading of Turning Point Brands

A number of hedge funds and other institutional investors have recently modified their holdings of TPB. First Sabrepoint Capital Management LP bought a new stake in shares of Turning Point Brands in the 3rd quarter worth $7,517,000. Northern Right Capital Management L.P. raised its position in shares of Turning Point Brands by 356.6% during the fourth quarter. Northern Right Capital Management L.P. now owns 134,354 shares of the company’s stock worth $8,075,000 after purchasing an additional 104,931 shares during the period. Arrowstreet Capital Limited Partnership raised its position in shares of 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 purchasing an additional 84,552 shares during the period. Invesco Ltd. raised its position in shares of Turning Point Brands by 205.8% during the fourth quarter. Invesco Ltd. now owns 97,261 shares of the company’s stock worth $5,845,000 after purchasing an additional 65,457 shares during the period. Finally, Portolan Capital Management LLC acquired a new stake in shares of Turning Point Brands during the fourth quarter worth $3,817,000. 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.