Turning Point Brands, Inc. (NYSE:TPB) Stock Has Average Price Target of $108.50 According to Brokerages

Shares of Turning Point Brands, Inc. (NYSE:TPB) have been given a consensus rating of “Hold” by the five ratings firms that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $108.50.

Several analysts have issued reports on the stock. Oppenheimer decreased their price target on shares of Turning Point Brands from $130.00 to $90.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 22nd. Compass Point set a $116.00 target price on shares of Turning Point Brands in a research note on Monday, August 10th. Wall Street Zen raised Turning Point Brands from a “strong sell” rating to a “sell” rating in a research report on Monday, August 10th. Weiss Ratings restated a “hold (c)” rating on shares of Turning Point Brands in a research note on Friday, August 28th. Finally, BTIG Research reaffirmed a “buy” rating on shares of Turning Point Brands in a report on Monday, August 10th.

Turning Point Brands Stock Down 2.9%

TPB opened at $65.48 on Thursday. Turning Point Brands has a 1-year low of $54.17 and a 1-year high of $146.90. The company has a current ratio of 5.67, a quick ratio of 4.16 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of 28.11 and a beta of 1.08. The business has a 50 day moving average of $65.63 and a 200-day moving average of $85.76.

Turning Point Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 8th. Investors of record on Friday, December 18th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Friday, December 18th. Turning Point Brands’s dividend payout ratio is presently 13.73%.

Institutional Investors Weigh In On Turning Point Brands

A number of institutional investors have recently bought and sold shares of the business. Operose Advisors LLC bought a new position in shares of Turning Point Brands during the 2nd quarter worth about $42,000. Sterling Capital Management LLC lifted its stake in Turning Point Brands by 566.7% during the third quarter. Sterling Capital Management LLC now owns 620 shares of the company’s stock worth $36,000 after purchasing an additional 527 shares during the period. GAMMA Investing LLC grew its stake in shares of Turning Point Brands by 103.3% in the 3rd quarter. GAMMA Investing LLC now owns 681 shares of the company’s stock valued at $40,000 after purchasing an additional 346 shares during the period. Fifth Third Bancorp acquired a new position in shares of Turning Point Brands in the 1st quarter worth approximately $126,000. Finally, Quantbot Technologies LP acquired a new position in shares of Turning Point Brands in the 2nd quarter worth approximately $209,000. Institutional investors and hedge funds own 96.12% of the company’s stock.

About Turning Point Brands

Turning Point Brands, Inc is a consumer products company focused on the manufacture, marketing and distribution of branded products for adult consumers. Its portfolio includes rolling papers, wraps, cigarette papers, smoking accessories, smokeless tobacco and modern oral nicotine products.

The company’s principal brands include Zig-Zag, a long-standing brand of rolling papers and related accessories, and Stoker’s, which offers moist smokeless tobacco and other tobacco products. Turning Point Brands also develops and markets newer nicotine products, including nicotine pouches, through its NewGen Products business.

Turning Point Brands serves retailers and consumers primarily in the United States through convenience stores, tobacco and specialty retailers, mass merchants, e-commerce channels and other distribution networks.