Turning Point Brands (NYSE:TPB) Research Coverage Started at Alliance Global Partners

Alliance Global Partners initiated coverage on shares of Turning Point Brands (NYSE:TPB) in a report issued on Monday morning, MarketBeat reports. The firm issued a buy rating and a $80.00 target price on the stock.

Other analysts also recently issued research reports about the stock. Oppenheimer assumed coverage on shares of Turning Point Brands in a research report on Thursday, November 14th. They set an “outperform” rating and a $65.00 price objective for the company. Craig Hallum raised their price objective on shares of Turning Point Brands from $60.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Roth Capital raised shares of Turning Point Brands to a “strong-buy” rating in a research report on Friday, November 8th. Roth Mkm reaffirmed a “buy” rating and set a $70.00 price objective on shares of Turning Point Brands in a research report on Friday, January 10th. Finally, StockNews.com downgraded shares of Turning Point Brands from a “buy” rating to a “hold” rating in a research report on Tuesday, February 4th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Turning Point Brands currently has a consensus rating of “Buy” and an average target price of $71.00.

Turning Point Brands Stock Up 0.0 %

Turning Point Brands stock opened at $67.02 on Monday. 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 has a 52-week low of $26.14 and a 52-week high of $72.54. The firm has a 50 day moving average price of $62.82 and a two-hundred day moving average price of $53.72. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of 26.59 and a beta of 0.74.

Turning Point Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 21st will be paid a $0.075 dividend. This is a boost 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 0.45%. The ex-dividend date of this dividend is Friday, March 21st. Turning Point Brands’s payout ratio is currently 11.90%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in TPB. Aigen Investment Management LP purchased a new position in shares of Turning Point Brands during the third quarter worth about $221,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Turning Point Brands during the third quarter worth about $326,000. Moran Wealth Management LLC purchased a new position in shares of Turning Point Brands during the third quarter worth about $236,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Turning Point Brands by 1.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 145,281 shares of the company’s stock worth $6,269,000 after purchasing an additional 2,442 shares in the last quarter. Finally, Pekin Hardy Strauss Inc. purchased a new position in shares of Turning Point Brands during the third quarter worth about $1,260,000. Hedge funds and other institutional investors 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.