Tri Pointe Homes, Inc. (NYSE:TPH) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Tri Pointe Homes, Inc. (NYSE:TPH) have been assigned an average rating of “Moderate Buy” from the five ratings firms that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $45.75.

Several brokerages recently commented on TPH. Wedbush reiterated a “neutral” rating and set a $42.00 price target on shares of Tri Pointe Homes in a research note on Thursday, October 24th. Royal Bank of Canada cut their target price on Tri Pointe Homes from $48.00 to $45.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. StockNews.com cut Tri Pointe Homes from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Zelman & Associates raised Tri Pointe Homes from an “underperform” rating to a “neutral” rating and set a $43.00 price target on the stock in a research report on Tuesday, September 17th. Finally, Oppenheimer decreased their price objective on Tri Pointe Homes from $56.00 to $53.00 and set an “outperform” rating for the company in a report on Friday, October 25th.

Tri Pointe Homes Trading Up 0.2 %

NYSE TPH opened at $36.28 on Tuesday. Tri Pointe Homes has a 52 week low of $33.24 and a 52 week high of $47.78. The firm has a 50 day moving average of $40.82 and a two-hundred day moving average of $41.83. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $3.40 billion, a PE ratio of 7.53, a price-to-earnings-growth ratio of 0.64 and a beta of 1.60.

Tri Pointe Homes (NYSE:TPH) last released its quarterly earnings data on Thursday, October 24th. The construction company reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.11. The company had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.05 billion. Tri Pointe Homes had a net margin of 10.41% and a return on equity of 14.83%. The firm’s revenue for the quarter was up 34.9% on a year-over-year basis. During the same quarter last year, the company earned $0.76 earnings per share. As a group, research analysts expect that Tri Pointe Homes will post 4.72 EPS for the current fiscal year.

Tri Pointe Homes declared that its Board of Directors has authorized a share repurchase plan on Wednesday, December 18th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the construction company to reacquire up to 7.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at Tri Pointe Homes

In other news, COO Thomas J. Mitchell sold 77,384 shares of Tri Pointe Homes stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $39.15, for a total transaction of $3,029,583.60. Following the completion of the sale, the chief operating officer now directly owns 708,159 shares in the company, valued at $27,724,424.85. The trade was a 9.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Tri Pointe Homes

Large investors have recently modified their holdings of the company. Reston Wealth Management LLC purchased a new stake in shares of Tri Pointe Homes during the 3rd quarter worth about $45,000. Blue Trust Inc. grew its stake in Tri Pointe Homes by 33.5% during the third quarter. Blue Trust Inc. now owns 2,368 shares of the construction company’s stock worth $107,000 after buying an additional 594 shares during the period. Quarry LP increased its position 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 in the last quarter. GAMMA Investing LLC raised its stake in shares of Tri Pointe Homes by 75.6% in the 3rd quarter. GAMMA Investing LLC now owns 2,669 shares of the construction company’s stock valued at $121,000 after acquiring an additional 1,149 shares during the period. Finally, CWM LLC raised its stake in shares of Tri Pointe Homes by 39.3% in the 3rd quarter. CWM LLC now owns 3,092 shares of the construction company’s stock valued at $140,000 after acquiring an additional 872 shares during the period. 97.01% of the stock is currently owned by hedge funds and other institutional investors.

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.