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

Turning Point Brands, Inc. (NYSE:TPB) has been given an average recommendation of “Buy” by the six brokerages that are presently covering the stock, MarketBeat reports. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $73.33.

TPB has been the subject of a number of recent analyst reports. StockNews.com lowered shares of Turning Point Brands from a “buy” rating to a “hold” rating in a report on Tuesday, March 11th. Craig Hallum lifted their target price on Turning Point Brands from $60.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Alliance Global Partners began coverage on Turning Point Brands in a report on Monday, March 3rd. They issued a “buy” rating and a $80.00 price target for the company. Roth Mkm restated a “buy” rating and set a $70.00 price objective on shares of Turning Point Brands in a report on Friday, January 10th. Finally, Industrial Alliance Securities set a $85.00 target price on Turning Point Brands in a research note on Thursday, March 6th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of TPB. Virtus Fund Advisers LLC bought a new stake in shares of Turning Point Brands in the 4th quarter worth approximately $48,000. USA Financial Formulas bought a new stake in Turning Point Brands in the fourth quarter valued at $73,000. Sunbelt Securities Inc. acquired a new position in shares of Turning Point Brands during the fourth quarter valued at $96,000. Tower Research Capital LLC TRC boosted its holdings in shares of Turning Point Brands by 29.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,364 shares of the company’s stock valued at $142,000 after acquiring an additional 532 shares during the period. Finally, Baird Financial Group Inc. bought a new position in shares of Turning Point Brands during the fourth quarter worth about $201,000. 96.12% of the stock is currently owned by institutional investors.

Turning Point Brands Stock Down 0.4 %

Shares of NYSE:TPB opened at $57.97 on Friday. The company has a market capitalization of $1.03 billion, a price-to-earnings ratio of 23.00 and a beta of 0.75. The company has a 50 day moving average of $62.73 and a two-hundred day moving average of $54.93. Turning Point Brands has a 52-week low of $26.45 and a 52-week 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.

Turning Point Brands Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 21st will be given a $0.075 dividend. This is a positive change from Turning Point Brands’s previous quarterly dividend of $0.07. The ex-dividend date is Friday, March 21st. This represents a $0.30 annualized dividend and a dividend yield of 0.52%. Turning Point Brands’s dividend payout ratio (DPR) 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.