Analysts Set Turning Point Brands, Inc. (NYSE:TPB) Target Price at $73.33

Turning Point Brands, Inc. (NYSE:TPB - Get Free Report) has been assigned an average rating of "Buy" from the six analysts that are covering the stock, MarketBeat Ratings 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 covered the stock in the last year is $73.33.

TPB has been the subject of several analyst reports. StockNews.com downgraded shares of Turning Point Brands from a "buy" rating to a "hold" rating in a report on Tuesday, March 11th. Industrial Alliance Securities set a $85.00 target price on shares of Turning Point Brands in a research report on Thursday, March 6th. Alliance Global Partners started coverage on Turning Point Brands in a report on Monday, March 3rd. They set a "buy" rating and a $80.00 price target on the stock. Finally, Roth Mkm reissued a "buy" rating and issued a $70.00 price objective on shares of Turning Point Brands in a report on Friday, January 10th.

Turning Point Brands Stock Performance

Shares of NYSE TPB traded down $0.72 during mid-day trading on Wednesday, hitting $55.78. The company had a trading volume of 93,340 shares, compared to its average volume of 158,501. Turning Point Brands has a 12 month low of $26.45 and a 12 month high of $72.54. The stock has a market cap of $990.69 million, a price-to-earnings ratio of 22.13 and a beta of 0.70. 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 firm's 50 day simple moving average is $62.47 and its two-hundred day simple moving average is $57.41.

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Turning Point Brands Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 21st were paid a dividend of $0.075 per share. 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 0.54%. The ex-dividend date was Friday, March 21st. Turning Point Brands's dividend payout ratio (DPR) is presently 14.15%.

Institutional Investors Weigh In On Turning Point Brands

Several hedge funds and other institutional investors have recently bought and sold shares of the business. First Sabrepoint Capital Management LP acquired a new position in shares of Turning Point Brands in the 3rd quarter worth approximately $7,517,000. Northern Right Capital Management L.P. grew its position in Turning Point Brands by 356.6% in the fourth quarter. Northern Right Capital Management L.P. now owns 134,354 shares of the company's stock worth $8,075,000 after buying an additional 104,931 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in Turning Point Brands by 36.1% in the fourth 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 during the last quarter. Invesco Ltd. increased its holdings in shares of Turning Point Brands by 205.8% in the fourth quarter. Invesco Ltd. now owns 97,261 shares of the company's stock valued at $5,845,000 after buying an additional 65,457 shares in the last quarter. Finally, Portolan Capital Management LLC acquired a new stake in shares of Turning Point Brands during the 4th quarter valued at $3,817,000. 96.12% of the stock is currently owned by institutional investors.

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.