Analysts Set Turning Point Brands, Inc. (NYSE:TPB) PT at $68.75

Shares of Turning Point Brands, Inc. (NYSE:TPB) have earned an average recommendation of “Buy” from the five analysts that are currently covering the stock, Marketbeat reports. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $68.75.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Sunbelt Securities Inc. purchased a new position in Turning Point Brands in the fourth quarter valued at about $96,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Turning Point Brands by 115.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 23,068 shares of the company’s stock valued at $1,386,000 after purchasing an additional 12,364 shares during the period. Virtus Fund Advisers LLC purchased a new position in Turning Point Brands in the fourth quarter valued at about $48,000. Virtus Investment Advisers Inc. purchased a new position in Turning Point Brands in the fourth quarter valued at about $529,000. Finally, Squarepoint Ops LLC raised its position in Turning Point Brands by 65.4% in the fourth quarter. Squarepoint Ops LLC now owns 62,663 shares of the company’s stock valued at $3,766,000 after purchasing an additional 24,787 shares during the period. 96.12% of the stock is owned by hedge funds and other institutional investors.

Turning Point Brands Trading Up 0.8 %

Shares of Turning Point Brands stock opened at $68.43 on Tuesday. Turning Point Brands has a fifty-two week low of $22.47 and a fifty-two week high of $70.99. The firm has a market cap of $1.21 billion, a PE ratio of 27.15 and a beta of 0.65. The business’s fifty day moving average is $61.48 and its two-hundred day moving average is $52.31. The company has a quick ratio of 1.78, a current ratio of 4.21 and a debt-to-equity ratio of 1.33.

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.