Turning Point Brands (NYSE:TPB) Upgraded at Wall Street Zen

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

A number of other research analysts have also recently issued reports on TPB. Compass Point set a $103.00 price target on shares of Turning Point Brands in a research report on Tuesday, July 21st. Needham & Company LLC upgraded shares of Turning Point Brands from a “hold” rating to a “buy” rating and set a $125.00 price objective on the stock in a report on Friday, May 8th. BTIG Research began coverage on shares of Turning Point Brands in a research note on Tuesday, July 21st. They set a “buy” rating and a $103.00 target price for the company. Finally, Weiss Ratings lowered shares of Turning Point Brands from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, June 2nd. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Turning Point Brands has a consensus rating of “Moderate Buy” and an average target price of $115.67.

Turning Point Brands Stock Performance

Shares of TPB stock opened at $86.65 on Monday. Turning Point Brands has a 12 month low of $65.80 and a 12 month high of $146.90. The stock has a market cap of $1.68 billion, a PE ratio of 37.19 and a beta of 0.91. 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 company’s fifty day moving average price is $82.64 and its 200-day moving average price is $92.60.

Turning Point Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Friday, September 18th will be paid a $0.08 dividend. The ex-dividend date is Friday, September 18th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.4%. Turning Point Brands’s payout ratio is currently 13.73%.

Institutional Inflows and Outflows

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

About Turning Point Brands

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.