Tri Pointe Homes (NYSE:TPH) Upgraded to “Neutral” at Zelman & Associates

Zelman & Associates upgraded shares of Tri Pointe Homes (NYSE:TPH) from an underperform rating to a neutral rating in a research note released on Tuesday morning, Benzinga reports. They currently have $43.00 target price on the construction company’s stock.

Several other equities analysts also recently commented on the stock. Wedbush reiterated a neutral rating and issued a $42.00 price objective on shares of Tri Pointe Homes in a report on Thursday, July 25th. Evercore ISI upgraded shares of Tri Pointe Homes to a strong-buy rating in a research note on Friday, July 26th. Oppenheimer upped their price target on shares of Tri Pointe Homes from $46.00 to $54.00 and gave the company an outperform rating in a research note on Friday, July 26th. Finally, Royal Bank of Canada upped their price target on shares of Tri Pointe Homes from $42.00 to $48.00 and gave the company an outperform rating in a research note on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Tri Pointe Homes has an average rating of Moderate Buy and a consensus price target of $46.75.

Tri Pointe Homes Stock Performance

Shares of TPH stock opened at $44.92 on Tuesday. The company’s fifty day simple moving average is $43.19 and its 200-day simple moving average is $39.25. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30. The firm has a market cap of $4.26 billion, a PE ratio of 11.98, a P/E/G ratio of 0.71 and a beta of 1.59. Tri Pointe Homes has a 12 month low of $24.18 and a 12 month high of $47.78.

Tri Pointe Homes (NYSE:TPH) last posted its quarterly earnings results on Thursday, July 25th. The construction company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.16. Tri Pointe Homes had a net margin of 10.28% and a return on equity of 14.03%. The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period in the prior year, the firm posted $0.60 earnings per share. The company’s quarterly revenue was up 38.3% compared to the same quarter last year. Equities research analysts expect that Tri Pointe Homes will post 4.68 EPS for the current fiscal year.

Insiders Place Their Bets

In other Tri Pointe Homes news, General Counsel David Ch Lee sold 5,000 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $44.28, for a total transaction of $221,400.00. Following the sale, the general counsel now directly owns 85,792 shares in the company, valued at $3,798,869.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Tri Pointe Homes news, General Counsel David Ch Lee sold 5,000 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $44.28, for a total transaction of $221,400.00. Following the sale, the general counsel now directly owns 85,792 shares in the company, valued at $3,798,869.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Glenn J. Keeler sold 24,200 shares of the stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $46.16, for a total transaction of $1,117,072.00. Following the sale, the chief financial officer now owns 149,108 shares in the company, valued at $6,882,825.28. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Aristides Capital LLC bought a new position in shares of Tri Pointe Homes in the second quarter worth about $247,000. Truist Financial Corp bought a new position in shares of Tri Pointe Homes in the second quarter worth about $1,431,000. Quarry LP lifted its holdings in shares of Tri Pointe Homes by 123.3% in the second quarter. Quarry LP now owns 2,401 shares of the construction company’s stock worth $89,000 after acquiring an additional 1,326 shares during the last quarter. Creative Planning lifted its holdings in shares of Tri Pointe Homes by 43.0% in the second quarter. Creative Planning now owns 13,503 shares of the construction company’s stock worth $503,000 after acquiring an additional 4,063 shares during the last quarter. Finally, Algert Global LLC lifted its holdings in shares of Tri Pointe Homes by 69.9% in the second quarter. Algert Global LLC now owns 296,892 shares of the construction company’s stock worth $11,059,000 after acquiring an additional 122,157 shares during the last quarter. Institutional investors own 97.01% of the company’s stock.

About Tri Pointe Homes

Tri Pointe Homes, Inc engages in the design, construction, and sale of single-family attached and detached homes in the United States. The company operates through a portfolio of six regional home building brands comprising Maracay in Arizona; Pardee Homes in California and Nevada; Quadrant Homes in Washington; Trendmaker Homes in Texas; TRI Pointe Homes in California, Colorado, and the Carolinas; and Winchester Homes in Maryland and Northern Virginia.