Turning Point Brands (NYSE:TPB) Hits New 52-Week High - Time to Buy?

Turning Point Brands, Inc. (NYSE:TPB - Get Free Report)'s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $72.54 and last traded at $70.41, with a volume of 17448 shares. The stock had previously closed at $70.30.

Wall Street Analyst Weigh In

TPB has been the subject of a number of research reports. Alliance Global Partners initiated coverage on Turning Point Brands in a research note on Monday. They set a "buy" rating and a $80.00 price target for the company. Oppenheimer started coverage on Turning Point Brands in a research note on Thursday, November 14th. They set an "outperform" rating and a $65.00 target price for the company. Benchmark boosted their price target on shares of Turning Point Brands from $45.00 to $65.00 and gave the stock a "buy" rating in a research report on Tuesday, November 12th. StockNews.com raised shares of Turning Point Brands from a "hold" rating to a "buy" rating in a report on Monday. Finally, Roth Capital raised shares of Turning Point Brands to a "strong-buy" rating in a research note on Friday, November 8th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Turning Point Brands has a consensus rating of "Buy" and an average target price of $71.00.

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Turning Point Brands Stock Performance

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 has a market capitalization of $1.09 billion, a PE ratio of 24.47 and a beta of 0.74. The firm has a fifty day moving average price of $62.82 and a 200 day moving average price of $53.72.

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

Turning Point Brands Increases Dividend

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

Institutional Investors Weigh In On Turning Point Brands

Several hedge funds have recently bought and sold shares of the business. Sei Investments Co. increased its holdings in shares of Turning Point Brands by 0.4% in the 4th quarter. Sei Investments Co. now owns 78,087 shares of the company's stock valued at $4,693,000 after purchasing an additional 283 shares during the period. Martingale Asset Management L P grew its position in Turning Point Brands by 1.4% during the third quarter. Martingale Asset Management L P now owns 24,686 shares of the company's stock valued at $1,065,000 after purchasing an additional 329 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Turning Point Brands by 3.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,739 shares of the company's stock valued at $585,000 after buying an additional 330 shares during the period. Principal Financial Group Inc. lifted its position in Turning Point Brands by 7.1% in the 4th quarter. Principal Financial Group Inc. now owns 7,247 shares of the company's stock worth $436,000 after buying an additional 482 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Turning Point Brands by 29.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,364 shares of the company's stock valued at $142,000 after buying an additional 532 shares during the period. 96.12% of the stock is owned by hedge funds and other 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.