StockNews.com Downgrades Tri Pointe Homes (NYSE:TPH) to Hold

Tri Pointe Homes (NYSE:TPH) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report released on Tuesday.

Several other research analysts have also recently weighed in on TPH. Zelman & Associates upgraded shares of Tri Pointe Homes from an “underperform” rating to a “neutral” rating and set a $43.00 price objective on the stock in a research report on Tuesday, September 17th. Wedbush reissued a “neutral” rating and issued a $42.00 price target on shares of Tri Pointe Homes in a report on Thursday, October 24th. Royal Bank of Canada dropped their price objective on shares of Tri Pointe Homes from $48.00 to $45.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Finally, Oppenheimer reduced their target price on Tri Pointe Homes from $56.00 to $53.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $45.75.

Tri Pointe Homes Stock Down 3.6 %

Shares of NYSE:TPH opened at $36.81 on Tuesday. The firm has a fifty day moving average price of $42.15 and a two-hundred day moving average price of $41.86. The company has a market cap of $3.45 billion, a price-to-earnings ratio of 7.64, a PEG ratio of 0.64 and a beta of 1.60. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.64 and a quick ratio of 1.64. Tri Pointe Homes has a one year low of $33.24 and a one year high of $47.78.

Tri Pointe Homes (NYSE:TPH) last issued its quarterly earnings data on Thursday, October 24th. The construction company reported $1.18 earnings per share (EPS) 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 the consensus estimate of $1.05 billion. Tri Pointe Homes had a return on equity of 14.83% and a net margin of 10.41%. The firm’s revenue was up 34.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.76 earnings per share. Analysts anticipate that Tri Pointe Homes will post 4.72 EPS for the current fiscal year.

Tri Pointe Homes announced that its Board of Directors has initiated a share buyback plan on Wednesday, December 18th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the construction company to reacquire up to 7.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In related news, COO Thomas J. Mitchell sold 77,384 shares of the stock in a transaction dated Monday, December 16th. The stock was 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. This represents a 9.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.00% of the stock is owned by corporate insiders.

Institutional Trading of Tri Pointe Homes

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Envestnet Portfolio Solutions Inc. purchased a new position in shares of Tri Pointe Homes in the second quarter worth $254,000. Blue Trust Inc. increased its position in shares of Tri Pointe Homes by 31.7% in the second quarter. Blue Trust Inc. now owns 1,774 shares of the construction company’s stock valued at $69,000 after acquiring an additional 427 shares during the period. Raymond James & Associates raised its stake in shares of Tri Pointe Homes by 18.9% during the second quarter. Raymond James & Associates now owns 174,937 shares of the construction company’s stock valued at $6,516,000 after acquiring an additional 27,791 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Tri Pointe Homes by 3.5% during the second quarter. Bank of New York Mellon Corp now owns 916,372 shares of the construction company’s stock worth $34,135,000 after purchasing an additional 31,041 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Tri Pointe Homes by 10.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,535 shares of the construction company’s stock worth $951,000 after purchasing an additional 2,355 shares during the last quarter. 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.