Turning Point Brands (NYSE:TPB) Upgraded by Wall Street Zen to “Sell” Rating

Wall Street Zen upgraded shares of Turning Point Brands (NYSE:TPB) from a strong sell rating to a sell rating in a report published on Monday.

Other research analysts also recently issued reports about the company. BTIG Research started coverage on Turning Point Brands in a report on Tuesday, July 21st. They set a “buy” rating and a $103.00 price target on the stock. Needham & Company LLC upgraded Turning Point Brands from a “hold” rating to a “buy” rating and set a $125.00 price objective for the company in a report on Friday, May 8th. Compass Point set a $103.00 target price on Turning Point Brands in a research report on Tuesday, July 21st. Finally, Weiss Ratings cut shares of Turning Point Brands from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, June 2nd. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $115.67.

Turning Point Brands Stock Performance

TPB stock opened at $89.25 on Monday. The stock’s 50 day simple moving average is $82.52 and its 200 day simple moving average is $93.04. The company has a current ratio of 5.67, a quick ratio of 4.16 and a debt-to-equity ratio of 0.65. Turning Point Brands has a 12-month low of $65.80 and a 12-month high of $146.90. The stock has a market capitalization of $1.73 billion, a PE ratio of 38.30 and a beta of 0.92.

Turning Point Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 18th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Friday, September 18th. Turning Point Brands’s dividend payout ratio (DPR) is presently 13.73%.

Institutional Investors Weigh In On Turning Point Brands

Hedge funds and other institutional investors have recently made changes to their positions in the business. Kemnay Advisory Services Inc. purchased a new position in shares of Turning Point Brands in the fourth quarter worth approximately $27,000. Empowered Funds LLC purchased a new stake in Turning Point Brands during the fourth quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd bought a new position in Turning Point Brands in the third quarter worth approximately $28,000. Advisory Services Network LLC purchased a new position in shares of Turning Point Brands during the 3rd quarter worth $28,000. Finally, First Horizon Corp boosted its stake in shares of Turning Point Brands by 96.0% during the 4th quarter. First Horizon Corp now owns 492 shares of the company’s stock worth $53,000 after acquiring an additional 241 shares during the last quarter. Hedge funds and other institutional investors own 96.12% of the company’s stock.

Turning Point Brands Company Profile

Turning Point Brands, Inc (NYSE: TPB) is a U.S.-based consumer products company focused on the manufacture, marketing and distribution of smokeless tobacco, vaping and cigar products. Headquartered in Old Hickory, Tennessee, the company serves retail outlets across all 50 states through a direct-store-delivery network and select third-party distributors. Turning Point Brands operates two reporting segments—Smokeless Products and Cigar—and leverages its logistics capabilities to offer a broad portfolio of brands and SKUs.

In its Smokeless Products segment, Turning Point Brands produces moist smokeless tobacco under leading brand names such as Grizzly, Kodiak and Stoker’s.