Turning Point Brands (NYSE:TPB) Upgraded at StockNews.com

StockNews.com upgraded shares of Turning Point Brands (NYSE:TPB) from a hold rating to a buy rating in a research note issued to investors on Monday morning.

A number of other research firms also recently issued reports on TPB. Roth Mkm reiterated a “buy” rating and issued a $70.00 target price on shares of Turning Point Brands in a research report on Friday, January 10th. Alliance Global Partners started coverage on shares of Turning Point Brands in a research report on Monday. They issued a “buy” rating and a $80.00 target price for the company. Oppenheimer started coverage on shares of Turning Point Brands in a research report on Thursday, November 14th. They issued an “outperform” rating and a $65.00 target price for the company. Craig Hallum increased 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, Benchmark raised their price target on shares of Turning Point Brands from $45.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Turning Point Brands currently has a consensus rating of “Buy” and an average price target of $71.00.

Turning Point Brands Stock Up 0.0 %

TPB stock opened at $67.02 on Monday. Turning Point Brands has a 12-month low of $26.14 and a 12-month high of $72.54. 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 company has a market cap of $1.19 billion, a price-to-earnings ratio of 26.59 and a beta of 0.74. The company has a 50 day moving average of $62.82 and a two-hundred day moving average of $53.72.

Turning Point Brands Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 21st will be paid a $0.075 dividend. The ex-dividend date is Friday, March 21st. This is a positive change from Turning Point Brands’s previous quarterly dividend of $0.07. This represents a $0.30 dividend on an annualized basis and a yield of 0.45%. Turning Point Brands’s dividend payout ratio (DPR) is presently 11.90%.

Institutional Trading of Turning Point Brands

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

About Turning Point Brands

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.