Turning Point Brands (NYSE:TPB) Lowered to Hold Rating by StockNews.com

StockNews.com downgraded shares of Turning Point Brands (NYSE:TPB) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning.

TPB has been the subject of a number of other research reports. Industrial Alliance Securities set a $85.00 price objective on Turning Point Brands in a research note on Thursday, March 6th. Alliance Global Partners initiated coverage on Turning Point Brands in a research note on Monday, March 3rd. They set a “buy” rating and a $80.00 price objective for the company. Oppenheimer began coverage on Turning Point Brands in a research note on Thursday, November 14th. They set an “outperform” rating and a $65.00 price objective for the company. Benchmark lifted their target price on Turning Point Brands from $45.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Finally, Roth Mkm reiterated a “buy” rating and issued a $70.00 target price on shares of Turning Point Brands in a research report on Friday, January 10th. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $73.33.

Turning Point Brands Stock Performance

Shares of NYSE:TPB opened at $56.82 on Tuesday. The company has a market cap of $1.01 billion, a P/E ratio of 22.55 and a beta of 0.75. 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 one year low of $26.45 and a one year high of $72.54. The business’s 50-day simple moving average is $62.75 and its 200 day simple moving average is $54.45.

Turning Point Brands Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 21st will be issued a $0.075 dividend. This is an increase from Turning Point Brands’s previous quarterly dividend of $0.07. The ex-dividend date is Friday, March 21st. This represents a $0.30 annualized dividend and a dividend yield of 0.53%. Turning Point Brands’s dividend payout ratio (DPR) is 14.15%.

Institutional Trading of Turning Point Brands

Several hedge funds have recently made changes to their positions in the stock. Sei Investments Co. lifted its holdings in shares of Turning Point Brands by 0.4% in the 4th quarter. Sei Investments Co. now owns 78,087 shares of the company’s stock worth $4,693,000 after purchasing an additional 283 shares during the last quarter. Martingale Asset Management L P lifted its holdings in shares of Turning Point Brands by 1.4% in the 3rd quarter. Martingale Asset Management L P now owns 24,686 shares of the company’s stock worth $1,065,000 after purchasing an additional 329 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Turning Point Brands by 3.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,739 shares of the company’s stock worth $585,000 after purchasing an additional 330 shares during the last quarter. Principal Financial Group Inc. raised its stake in Turning Point Brands by 7.1% during the 4th quarter. Principal Financial Group Inc. now owns 7,247 shares of the company’s stock valued at $436,000 after acquiring an additional 482 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in Turning Point Brands by 29.0% during the 4th 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 in the last quarter. Institutional investors own 96.12% of the company’s stock.

Turning Point Brands Company Profile

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.