Turning Point Brands (NYSE:TPB) Now Covered by Analysts at Alliance Global Partners

Alliance Global Partners initiated coverage on shares of Turning Point Brands (NYSE:TPB - Free Report) in a research note released on Monday, Marketbeat Ratings reports. The firm issued a buy rating and a $80.00 price objective on the stock.

A number of other equities research analysts have also commented on TPB. Roth Mkm reissued a "buy" rating and issued a $70.00 price target on shares of Turning Point Brands in a research report on Friday, January 10th. Benchmark increased their target price on shares of Turning Point Brands from $45.00 to $65.00 and gave the company a "buy" rating in a report on Tuesday, November 12th. StockNews.com cut shares of Turning Point Brands from a "buy" rating to a "hold" rating in a report on Tuesday, February 4th. Craig Hallum increased their price objective on shares of Turning Point Brands from $60.00 to $75.00 and gave the company a "buy" rating in a research note on Thursday, December 5th. Finally, Roth Capital raised shares of Turning Point Brands to a "strong-buy" rating in a research report on Friday, November 8th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Turning Point Brands has a consensus rating of "Buy" and a consensus price target of $71.00.

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Turning Point Brands Stock Down 8.0 %

Shares of Turning Point Brands stock traded down $5.37 during trading hours on Monday, reaching $61.65. The company's stock had a trading volume of 584,100 shares, compared to its average volume of 143,631. The company has a market capitalization of $1.09 billion, a P/E ratio of 24.47 and a beta of 0.74. The stock's fifty day simple moving average is $62.82 and its two-hundred day simple moving average is $53.72. Turning Point Brands has a one year low of $26.14 and a one year high of $72.54. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.78 and a current ratio of 4.21.

Turning Point Brands (NYSE:TPB - Get Free Report) last released its quarterly earnings results on Thursday, March 6th. The company reported $0.53 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.65 by ($0.12). Turning Point Brands had a net margin of 11.63% and a return on equity of 33.14%. On average, research analysts forecast that Turning Point Brands will post 2.59 earnings per share for the current year.

Turning Point Brands Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 21st will be issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend is Friday, March 21st. This is a boost from Turning Point Brands's previous quarterly dividend of $0.07. Turning Point Brands's payout ratio is 11.90%.

Hedge Funds Weigh In On Turning Point Brands

Several institutional investors and hedge funds have recently bought and sold shares of TPB. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Turning Point Brands in the 4th quarter valued at about $2,240,000. Sunbelt Securities Inc. purchased a new position in shares of Turning Point Brands in the fourth quarter worth about $96,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Turning Point Brands by 115.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 23,068 shares of the company's stock valued at $1,386,000 after purchasing an additional 12,364 shares during the period. Virtus Fund Advisers LLC purchased a new stake in shares of Turning Point Brands during the 4th quarter valued at approximately $48,000. Finally, Virtus Investment Advisers Inc. purchased a new stake in shares of Turning Point Brands during the 4th quarter valued at approximately $529,000. 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.