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

Shares of Turning Point Brands, Inc. (NYSE:TPB) have been assigned a consensus recommendation of “Buy” from the six research firms that are covering the firm, Marketbeat.com reports. Five investment 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 brokers that have issued ratings on the stock in the last year is $73.33.

Several analysts have recently commented on TPB shares. Roth Mkm reiterated a “buy” rating and issued a $70.00 price target on shares of Turning Point Brands in a research report on Friday, January 10th. Alliance Global Partners initiated coverage on shares of 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. Industrial Alliance Securities set a $85.00 target price on shares of Turning Point Brands in a research report on Thursday, March 6th. Craig Hallum raised their target price 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. Finally, StockNews.com lowered shares of Turning Point Brands from a “buy” rating to a “hold” rating in a research report on Tuesday, March 11th.

Turning Point Brands Stock Up 0.9 %

TPB stock opened at $57.85 on Friday. The company’s 50 day simple moving average is $62.78 and its 200-day simple moving average is $55.07. The firm has a market capitalization of $1.03 billion, a PE ratio of 22.96 and a beta of 0.74. 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.

Turning Point Brands Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 21st will be paid 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 0.52%. Turning Point Brands’s payout ratio is 14.15%.

Institutional Investors Weigh In On Turning Point Brands

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Virtus Fund Advisers LLC purchased a new stake in Turning Point Brands during the 4th quarter worth $48,000. USA Financial Formulas bought a new stake in shares of Turning Point Brands in the 4th quarter worth about $73,000. Sunbelt Securities Inc. bought a new stake in shares of Turning Point Brands in the 4th quarter worth about $96,000. Tower Research Capital LLC TRC increased its position in shares of Turning Point Brands by 29.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,364 shares of the company’s stock worth $142,000 after purchasing an additional 532 shares during the last quarter. Finally, Baird Financial Group Inc. bought a new stake in shares of Turning Point Brands in the 4th quarter worth about $201,000. Hedge funds and other 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.