Turning Point Brands (NYSE:TPB) Upgraded at StockNews.com

StockNews.com upgraded shares of Turning Point Brands (NYSE:TPB - Free Report) from a hold rating to a buy rating in a research note published on Monday.

A number of other equities research analysts have also weighed in on TPB. Alliance Global Partners started coverage on Turning Point Brands in a research report on Monday. They set a "buy" rating and a $80.00 price objective on the stock. Roth Capital upgraded Turning Point Brands to a "strong-buy" rating in a report on Friday, November 8th. Oppenheimer began coverage on shares of Turning Point Brands in a report on Thursday, November 14th. They issued an "outperform" rating and a $65.00 price objective for the company. Roth Mkm reissued a "buy" rating and set a $70.00 target price on shares of Turning Point Brands in a report on Friday, January 10th. Finally, Benchmark upped their price target on shares of Turning Point Brands from $45.00 to $65.00 and gave the company a "buy" rating in a research report on Tuesday, November 12th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Buy" and an average price target of $71.00.

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Turning Point Brands Price Performance

Turning Point Brands stock traded down $0.01 during mid-day trading on Monday, reaching $61.55. The company had a trading volume of 435,579 shares, compared to its average volume of 145,145. The business has a fifty day simple moving average of $62.86 and a 200 day simple moving average of $53.77. The company has a market cap of $1.09 billion, a P/E ratio of 24.43 and a beta of 0.74. Turning Point Brands has a fifty-two week low of $26.35 and a fifty-two week high of $72.54. The company has a current ratio of 4.21, a quick ratio of 1.78 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. This represents a $0.30 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date is Friday, March 21st. This is an increase from Turning Point Brands's previous quarterly dividend of $0.07. Turning Point Brands's dividend payout ratio is currently 11.90%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of TPB. Corsair Capital Management L.P. raised its stake in Turning Point Brands by 49.0% during the third quarter. Corsair Capital Management L.P. now owns 30,412 shares of the company's stock worth $1,312,000 after buying an additional 10,000 shares during the last quarter. Entropy Technologies LP acquired a new stake in Turning Point Brands during the 4th quarter worth about $234,000. Pekin Hardy Strauss Inc. bought a new position in shares of Turning Point Brands in the 3rd quarter worth about $1,260,000. 272 Capital LP acquired a new position in shares of Turning Point Brands in the 3rd quarter valued at about $1,488,000. Finally, Legato Capital Management LLC acquired a new position in shares of Turning Point Brands in the 4th quarter valued at about $278,000. Institutional investors and hedge funds own 96.12% of the company's stock.

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.