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

Shares of Turning Point Brands, Inc. (NYSE:TPB) have received an average recommendation of “Buy” from the six analysts that are presently covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $73.33.

Several research firms have commented on TPB. Roth Mkm reiterated a “buy” rating and issued a $70.00 price objective on shares of Turning Point Brands in a report on Friday, January 10th. Alliance Global Partners started coverage on shares of Turning Point Brands in a research note on Monday, March 3rd. They issued a “buy” rating and a $80.00 price target on the stock. Industrial Alliance Securities set a $85.00 price objective on shares of Turning Point Brands in a research report on Thursday, March 6th. Finally, StockNews.com raised Turning Point Brands from a “hold” rating to a “buy” rating in a research report on Friday, April 18th.

Institutional Trading of Turning Point Brands

Several large investors have recently modified their holdings of the stock. Barclays PLC grew its stake in Turning Point Brands by 298.6% during the third quarter. Barclays PLC now owns 29,274 shares of the company’s stock worth $1,262,000 after buying an additional 21,930 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Turning Point Brands by 84.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 123,079 shares of the company’s stock worth $5,311,000 after acquiring an additional 56,364 shares during the period. USA Financial Formulas bought a new position in Turning Point Brands in the fourth quarter valued at approximately $73,000. Linden Thomas Advisory Services LLC increased its stake in Turning Point Brands by 22.8% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 26,757 shares of the company’s stock valued at $1,608,000 after acquiring an additional 4,967 shares during the last quarter. Finally, Entropy Technologies LP acquired a new position in Turning Point Brands during the fourth quarter valued at approximately $234,000. 96.12% of the stock is owned by institutional investors and hedge funds.

Turning Point Brands Price Performance

NYSE:TPB opened at $63.53 on Friday. The company has a quick ratio of 1.78, a current ratio of 4.21 and a debt-to-equity ratio of 1.33. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of 25.21 and a beta of 0.69. Turning Point Brands has a 12-month low of $30.61 and a 12-month high of $72.54. The stock’s 50 day moving average price is $59.67 and its two-hundred day moving average price is $59.07.

Turning Point Brands Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 21st were issued a dividend of $0.075 per share. The ex-dividend date was Friday, March 21st. This is a boost from Turning Point Brands’s previous quarterly dividend of $0.07. This represents a $0.30 annualized dividend and a dividend yield of 0.47%. Turning Point Brands’s dividend payout ratio (DPR) is currently 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.