Turning Point Brands (NYSE:TPB) Reaches New 1-Year High – What’s Next?

Turning Point Brands, Inc. (NYSE:TPB)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $49.13 and last traded at $48.96, with a volume of 19711 shares. The stock had previously closed at $47.69.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on TPB shares. StockNews.com downgraded Turning Point Brands from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 24th. Benchmark restated a “buy” rating and issued a $45.00 price objective on shares of Turning Point Brands in a report on Friday, August 2nd. Roth Capital raised shares of Turning Point Brands to a “strong-buy” rating in a research note on Thursday, September 19th. Finally, Roth Mkm began coverage on shares of Turning Point Brands in a research report on Thursday, September 19th. They issued a “buy” rating and a $50.00 target price for the company.

Turning Point Brands Price Performance

The company has a debt-to-equity ratio of 1.43, a current ratio of 1.80 and a quick ratio of 1.17. The stock has a 50 day simple moving average of $42.51 and a two-hundred day simple moving average of $37.15. The company has a market cap of $878.42 million, a price-to-earnings ratio of 21.09 and a beta of 0.63.

Insider Activity

In related news, Director Gregory H.A. Baxter sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $39.42, for a total transaction of $78,840.00. Following the completion of the sale, the director now directly owns 46,544 shares in the company, valued at approximately $1,834,764.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 5.80% of the company’s stock.

Institutional Investors Weigh In On Turning Point Brands

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Federated Hermes Inc. increased its position in shares of Turning Point Brands by 245.9% during the second quarter. Federated Hermes Inc. now owns 154,708 shares of the company’s stock valued at $4,965,000 after acquiring an additional 109,983 shares during the last quarter. Vanguard Group Inc. raised its position in Turning Point Brands by 6.6% in the first quarter. Vanguard Group Inc. now owns 1,497,110 shares of the company’s stock valued at $43,865,000 after purchasing an additional 92,147 shares during the period. Lord Abbett & CO. LLC raised its position in Turning Point Brands by 45.2% in the first quarter. Lord Abbett & CO. LLC now owns 255,309 shares of the company’s stock valued at $7,481,000 after purchasing an additional 79,489 shares during the period. Tidal Investments LLC acquired a new position in Turning Point Brands during the first quarter worth $1,661,000. Finally, Renaissance Technologies LLC boosted its position in shares of Turning Point Brands by 21.1% during the second quarter. Renaissance Technologies LLC now owns 302,697 shares of the company’s stock worth $9,714,000 after buying an additional 52,800 shares during the period. Hedge funds and other institutional investors own 96.12% of the company’s stock.

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.