Turning Point Brands (NYSE:TPB) Sets New 52-Week High – What’s Next?

Turning Point Brands, Inc. (NYSE:TPB)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $70.99 and last traded at $70.44, with a volume of 45178 shares. The stock had previously closed at $69.63.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Benchmark boosted their price objective on Turning Point Brands from $45.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Craig Hallum boosted their price objective 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 objective on the stock. Roth Capital raised Turning Point Brands to a “strong-buy” rating in a research note on Friday, November 8th. Finally, StockNews.com lowered Turning Point Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, February 4th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Turning Point Brands has a consensus rating of “Buy” and an average price target of $68.75.

Turning Point Brands Stock Down 0.2 %

The firm has a 50 day moving average price of $61.18 and a 200-day moving average price of $51.65. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of 27.47 and a beta of 0.65. The company has a debt-to-equity ratio of 1.33, a current ratio of 4.21 and a quick ratio of 1.78.

Institutional Investors Weigh In On Turning Point Brands

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Virtus Fund Advisers LLC bought a new stake in Turning Point Brands in the fourth quarter valued at about $48,000. USA Financial Formulas bought a new stake in Turning Point Brands in the fourth quarter valued at about $73,000. Copeland Capital Management LLC bought a new stake in Turning Point Brands in the third quarter valued at about $61,000. Sunbelt Securities Inc. bought a new stake in Turning Point Brands in the fourth quarter valued at about $96,000. Finally, Tower Research Capital LLC TRC increased its holdings 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 purchasing an additional 532 shares during 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.