Turning Point Brands, Inc. (NYSE:TPB) Receives Consensus Rating of “Buy” from Analysts

Shares of Turning Point Brands, Inc. (NYSE:TPB) have received an average rating of “Buy” from the five research firms that are covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $68.75.

Several analysts have recently weighed in on the company. Benchmark raised their target price on Turning Point Brands from $45.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Roth Capital upgraded Turning Point Brands to a “strong-buy” rating in a research note on Friday, November 8th. Craig Hallum lifted their price target on Turning Point Brands from $60.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Oppenheimer assumed coverage on Turning Point Brands in a research note on Thursday, November 14th. They issued an “outperform” rating and a $65.00 price target for the company. Finally, Roth Mkm reiterated a “buy” rating and issued a $70.00 price target on shares of Turning Point Brands in a research note on Friday, January 10th.

Hedge Funds Weigh In On Turning Point Brands

A number of hedge funds and other institutional investors have recently bought and sold shares of TPB. Virtus Fund Advisers LLC acquired a new position in Turning Point Brands in the fourth quarter valued at approximately $48,000. Copeland Capital Management LLC acquired a new position in Turning Point Brands in the third quarter valued at approximately $61,000. USA Financial Formulas acquired a new position in Turning Point Brands in the fourth quarter valued at approximately $73,000. Sunbelt Securities Inc. acquired a new position in Turning Point Brands in the fourth quarter valued at approximately $96,000. Finally, Tower Research Capital LLC TRC boosted its stake in Turning Point Brands by 29.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,364 shares of the company’s stock valued at $142,000 after acquiring an additional 532 shares during the period. 96.12% of the stock is currently owned by institutional investors and hedge funds.

Turning Point Brands Stock Up 0.8 %

Shares of Turning Point Brands stock opened at $68.43 on Tuesday. The business has a 50-day moving average of $61.48 and a 200-day moving average of $52.31. 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 company has a market capitalization of $1.21 billion, a PE ratio of 27.15 and a beta of 0.65. Turning Point Brands has a 1-year low of $22.47 and a 1-year high of $70.99.

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.