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

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

Wall Street Analyst Weigh In

TPB has been the subject of a number of research reports. StockNews.com downgraded Turning Point Brands from a “buy” rating to a “hold” rating in a report on Tuesday, February 4th. Roth Capital upgraded Turning Point Brands to a “strong-buy” rating in a report on Friday, November 8th. Roth Mkm reiterated a “buy” rating and set a $70.00 price objective on shares of Turning Point Brands in a report on Friday, January 10th. Oppenheimer initiated coverage on Turning Point Brands in a report on Thursday, November 14th. They set an “outperform” rating and a $65.00 price objective for the company. Finally, Benchmark increased their price objective on Turning Point Brands from $45.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $68.75.

Turning Point Brands Stock Down 0.2 %

The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of 27.47 and a beta of 0.65. The firm has a 50-day moving average of $61.18 and a 200 day moving average of $51.65. 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 Trading of Turning Point Brands

Hedge funds have recently made changes to their positions in the business. Virtus Fund Advisers LLC acquired a new stake in shares of Turning Point Brands in the fourth quarter valued at approximately $48,000. USA Financial Formulas acquired a new stake in shares of Turning Point Brands in the fourth quarter valued at approximately $73,000. Copeland Capital Management LLC acquired a new stake in shares of Turning Point Brands in the third quarter valued at approximately $61,000. Sunbelt Securities Inc. acquired a new stake in shares of Turning Point Brands in the fourth quarter valued at approximately $96,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of Turning Point Brands by 29.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,364 shares of the company’s stock worth $142,000 after purchasing an additional 532 shares during the period. 96.12% of the stock is owned by institutional investors and hedge funds.

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.