Wedbush Reiterates Neutral Rating for Tri Pointe Homes (NYSE:TPH)

Wedbush restated their neutral rating on shares of Tri Pointe Homes (NYSE:TPH) in a report published on Thursday morning, Benzinga reports. The brokerage currently has a $42.00 price target on the construction company’s stock.

A number of other equities analysts also recently weighed in on the stock. Evercore ISI raised shares of Tri Pointe Homes to a “strong-buy” rating in a research note on Friday, July 26th. Royal Bank of Canada increased their target price on Tri Pointe Homes from $42.00 to $48.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Oppenheimer boosted their price target on Tri Pointe Homes from $54.00 to $56.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Finally, Zelman & Associates upgraded Tri Pointe Homes from an “underperform” rating to a “neutral” rating and set a $43.00 price objective on the stock in a report on Tuesday, September 17th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Tri Pointe Homes currently has a consensus rating of “Moderate Buy” and an average target price of $45.75.

Tri Pointe Homes Price Performance

Shares of NYSE:TPH opened at $40.28 on Thursday. The business has a fifty day simple moving average of $43.98 and a 200-day simple moving average of $40.86. Tri Pointe Homes has a 52 week low of $24.18 and a 52 week high of $47.78. The company has a market cap of $3.82 billion, a P/E ratio of 10.74, a P/E/G ratio of 0.70 and a beta of 1.59. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30.

Tri Pointe Homes (NYSE:TPH) last posted its quarterly earnings data on Thursday, October 24th. The construction company reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.16. Tri Pointe Homes had a net margin of 10.28% and a return on equity of 14.03%. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the prior year, the company posted $0.76 EPS. The company’s quarterly revenue was up 34.9% compared to the same quarter last year. Equities research analysts forecast that Tri Pointe Homes will post 4.68 EPS for the current year.

Insider Buying and Selling

In related news, General Counsel David Ch Lee sold 5,000 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $44.28, for a total value of $221,400.00. Following the completion of the sale, the general counsel now directly owns 85,792 shares in the company, valued at approximately $3,798,869.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tri Pointe Homes

Institutional investors and hedge funds have recently bought and sold shares of the stock. Burr Financial Services LLC lifted its position in shares of Tri Pointe Homes by 73.9% during the third quarter. Burr Financial Services LLC now owns 20,170 shares of the construction company’s stock worth $914,000 after purchasing an additional 8,570 shares in the last quarter. First Trust Direct Indexing L.P. lifted its holdings in Tri Pointe Homes by 9.4% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 6,266 shares of the construction company’s stock worth $284,000 after buying an additional 541 shares in the last quarter. Cavalier Investments LLC boosted its position in Tri Pointe Homes by 6.5% in the 3rd quarter. Cavalier Investments LLC now owns 20,344 shares of the construction company’s stock valued at $922,000 after buying an additional 1,242 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in Tri Pointe Homes in the 3rd quarter valued at about $226,000. Finally, Highland Capital Management LLC acquired a new stake in shares of Tri Pointe Homes during the third quarter valued at about $248,000. Hedge funds and other institutional investors own 97.01% of the company’s stock.

Tri Pointe Homes Company Profile

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.