Turning Point Brands (NYSE:TPB) Reaches New 1-Year High - Should You Buy?

Turning Point Brands, Inc. (NYSE:TPB - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $70.52 and last traded at $69.62, with a volume of 78511 shares trading hands. The stock had previously closed at $67.70.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TPB. Craig Hallum raised their target price 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. Roth Capital upgraded shares of Turning Point Brands to a "strong-buy" rating in a report on Friday, November 8th. Oppenheimer assumed coverage on shares of Turning Point Brands in a report on Thursday, November 14th. They set an "outperform" rating and a $65.00 target price on the stock. Benchmark raised their target price on shares of Turning Point Brands from $45.00 to $65.00 and gave the stock a "buy" rating in a report on Tuesday, November 12th. Finally, Roth Mkm restated a "buy" rating and set a $70.00 target price on shares of Turning Point Brands in a report on Friday, January 10th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Turning Point Brands presently has an average rating of "Buy" and an average price target of $68.75.

Turning Point Brands Stock Down 0.8 %

The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of 27.67 and a beta of 0.65. 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 stock's fifty day moving average price is $60.65 and its 200-day moving average price is $50.94.

Institutional Trading of Turning Point Brands

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Turning Point Brands by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 1,524,640 shares of the company's stock worth $91,631,000 after buying an additional 18,440 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Turning Point Brands by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 405,613 shares of the company's stock worth $17,506,000 after buying an additional 15,344 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of Turning Point Brands by 36.1% during the 4th 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. Charles Schwab Investment Management Inc. increased its position in Turning Point Brands by 40.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 203,706 shares of the company's stock worth $12,243,000 after acquiring an additional 58,425 shares during the period. Finally, First Sabrepoint Capital Management LP bought a new stake in Turning Point Brands in the 3rd quarter valued at about $7,517,000. Institutional investors and hedge funds own 96.12% of the company's stock.

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.