Turning Point Brands, Inc. (NYSE:TPB) Receives Average Recommendation of “Buy” from Brokerages

Shares of Turning Point Brands, Inc. (NYSE:TPB) have earned a consensus recommendation of “Buy” from the six brokerages that are covering the firm, MarketBeat reports. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $73.33.

Several research firms have recently commented on TPB. Alliance Global Partners began coverage on shares of Turning Point Brands in a report on Monday, March 3rd. They issued a “buy” rating and a $80.00 price target for the company. Craig Hallum lifted their price target on shares of Turning Point Brands from $60.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, December 5th. StockNews.com lowered shares of Turning Point Brands from a “buy” rating to a “hold” rating in a report on Tuesday, March 11th. Roth Mkm reaffirmed a “buy” rating and issued a $70.00 price target on shares of Turning Point Brands in a report on Friday, January 10th. Finally, Industrial Alliance Securities set a $85.00 price target on shares of Turning Point Brands in a report on Thursday, March 6th.

Institutional Trading of Turning Point Brands

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Turning Point Brands by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 1,524,640 shares of the company’s stock worth $91,631,000 after buying an additional 18,440 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Turning Point Brands by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 405,613 shares of the company’s stock worth $17,506,000 after buying an additional 15,344 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Turning Point Brands by 36.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 318,552 shares of the company’s stock worth $19,145,000 after buying an additional 84,552 shares in the last quarter. D. E. Shaw & Co. Inc. raised its position in shares of Turning Point Brands by 1.1% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 243,691 shares of the company’s stock worth $14,646,000 after buying an additional 2,667 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Turning Point Brands by 40.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 203,706 shares of the company’s stock worth $12,243,000 after buying an additional 58,425 shares in the last quarter. 96.12% of the stock is currently owned by institutional investors.

Turning Point Brands Price Performance

TPB opened at $57.85 on Friday. Turning Point Brands has a 1-year low of $26.45 and a 1-year high of $72.54. The company has a 50-day moving average of $62.78 and a 200-day moving average of $55.07. 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 company has a market capitalization of $1.03 billion, a P/E ratio of 22.96 and a beta of 0.74.

Turning Point Brands Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 21st will be paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 0.52%. This is a positive change from Turning Point Brands’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Friday, March 21st. Turning Point Brands’s payout ratio is presently 14.15%.

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.