Turning Point Brands (NYSE:TPB) Trading 4.6% Higher – What’s Next?

Turning Point Brands, Inc. (NYSE:TPB) rose 4.6% during trading on Thursday . The company traded as high as $67.23 and last traded at $70.12. Approximately 55,942 shares changed hands during mid-day trading, a decline of 61% from the average daily volume of 141,638 shares. The stock had previously closed at $67.02.

Analysts Set New Price Targets

TPB has been the topic of a number of recent research reports. Oppenheimer initiated coverage on Turning Point Brands in a research note on Thursday, November 14th. They issued an “outperform” rating and a $65.00 target price on the stock. Alliance Global Partners initiated coverage on Turning Point Brands in a research report on Monday, March 3rd. They set a “buy” rating and a $80.00 price objective on the stock. Roth Capital raised Turning Point Brands to a “strong-buy” rating in a research report on Friday, November 8th. Benchmark increased their price objective 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. Finally, StockNews.com raised Turning Point Brands from a “hold” rating to a “buy” rating in a research report on Monday, March 3rd. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $71.00.

Turning Point Brands Stock Performance

The company has a market cap of $1.09 billion, a P/E ratio of 24.43 and a beta of 0.74. The business has a fifty day simple moving average of $62.90 and a two-hundred day simple moving average of $53.92. 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. Shareholders of record on Friday, March 21st will be given a dividend of $0.075 per share. 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 0.49%. Turning Point Brands’s payout ratio is 11.90%.

Institutional Investors Weigh In On Turning Point Brands

Institutional investors and hedge funds have recently bought and sold shares of the company. Virtus Fund Advisers LLC bought a new stake in Turning Point Brands during the 4th quarter valued at $48,000. USA Financial Formulas bought a new stake in Turning Point Brands during the 4th quarter valued at $73,000. Sunbelt Securities Inc. bought a new stake in Turning Point Brands during the 4th quarter valued at $96,000. Tower Research Capital LLC TRC raised its position in shares of Turning Point Brands by 29.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,364 shares of the company’s stock worth $142,000 after acquiring an additional 532 shares in the last quarter. Finally, Baird Financial Group Inc. bought a new position in shares of Turning Point Brands in the 4th quarter worth $201,000. 96.12% of the stock is owned by institutional investors.

Turning Point Brands Company Profile

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.