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

Turning Point Brands, Inc. (NYSE:TPB)’s share price hit 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 traded. The stock had previously closed at $69.63.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on TPB. Oppenheimer began coverage on Turning Point Brands in a research report on Thursday, November 14th. They set an “outperform” rating and a $65.00 price target on the stock. Roth Capital raised Turning Point Brands to a “strong-buy” rating in a research report on Friday, November 8th. Benchmark upped their price target on Turning Point Brands from $45.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Craig Hallum upped their price target on Turning Point Brands from $60.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Finally, StockNews.com lowered Turning Point Brands from a “buy” rating to a “hold” rating in a research report on Tuesday, February 4th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Turning Point Brands currently has a consensus rating of “Buy” and a consensus target price of $68.75.

Turning Point Brands Stock Up 1.1 %

The business has a 50 day simple moving average of $60.79 and a 200 day simple moving average of $51.16. The company has a debt-to-equity ratio of 1.33, a current ratio of 4.21 and a quick ratio of 1.78. The stock has a market cap of $1.25 billion, a PE ratio of 27.93 and a beta of 0.65.

Institutional Trading of Turning Point Brands

Several large investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC lifted its holdings in shares of Turning Point Brands by 72,406.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 10,876 shares of the company’s stock worth $469,000 after buying an additional 10,861 shares during the last quarter. Copeland Capital Management LLC acquired a new position in shares of Turning Point Brands during the third quarter worth approximately $61,000. Aigen Investment Management LP acquired a new position in shares of Turning Point Brands during the third quarter worth approximately $221,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Turning Point Brands during the third quarter worth approximately $326,000. Finally, Moran Wealth Management LLC acquired a new position in shares of Turning Point Brands during the third quarter worth approximately $236,000. 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.