Tri Pointe Homes (NYSE:TPH) Sets New 12-Month Low – What’s Next?

Tri Pointe Homes, Inc. (NYSE:TPH)’s stock price hit a new 52-week low during trading on Thursday . The stock traded as low as $30.09 and last traded at $30.24, with a volume of 166892 shares changing hands. The stock had previously closed at $32.46.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. StockNews.com lowered shares of Tri Pointe Homes from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. Evercore ISI lowered their price target on Tri Pointe Homes from $54.00 to $42.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. Wedbush reiterated a “neutral” rating and set a $38.00 price objective (down previously from $44.00) on shares of Tri Pointe Homes in a report on Tuesday, February 18th. Royal Bank of Canada lowered shares of Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $41.00 to $37.00 in a research note on Wednesday, February 19th. Finally, Seaport Res Ptn upgraded shares of Tri Pointe Homes from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 6th. Four equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $40.60.

Tri Pointe Homes Trading Down 5.3 %

The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.64 and a current ratio of 2.24. The stock has a market cap of $2.82 billion, a price-to-earnings ratio of 6.36, a P/E/G ratio of 0.67 and a beta of 1.71. The business has a 50-day simple moving average of $33.55 and a two-hundred day simple moving average of $38.45.

Tri Pointe Homes (NYSE:TPH) last announced its earnings results on Tuesday, February 18th. The construction company reported $1.37 EPS for the quarter, topping the consensus estimate of $1.30 by $0.07. Tri Pointe Homes had a net margin of 10.36% and a return on equity of 14.34%. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.22 billion. As a group, research analysts forecast that Tri Pointe Homes, Inc. will post 3.58 EPS for the current year.

Tri Pointe Homes announced that its board has initiated a share repurchase plan on Wednesday, December 18th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the construction company to buy up to 7.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Institutional Trading of Tri Pointe Homes

Institutional investors and hedge funds have recently bought and sold shares of the stock. CIBC Private Wealth Group LLC grew its position in shares of Tri Pointe Homes by 8.8% in the 4th quarter. CIBC Private Wealth Group LLC now owns 3,563 shares of the construction company’s stock valued at $126,000 after acquiring an additional 287 shares during the period. Assetmark Inc. increased its position in Tri Pointe Homes by 19.6% during the fourth quarter. Assetmark Inc. now owns 1,827 shares of the construction company’s stock worth $66,000 after buying an additional 300 shares during the last quarter. Covestor Ltd raised its stake in Tri Pointe Homes by 58.5% in the fourth quarter. Covestor Ltd now owns 908 shares of the construction company’s stock valued at $33,000 after buying an additional 335 shares during the period. Hillsdale Investment Management Inc. raised its stake in Tri Pointe Homes by 0.3% in the fourth quarter. Hillsdale Investment Management Inc. now owns 99,800 shares of the construction company’s stock valued at $3,619,000 after buying an additional 340 shares during the period. Finally, Highland Capital Management LLC boosted its stake in shares of Tri Pointe Homes by 6.7% during the 4th quarter. Highland Capital Management LLC now owns 5,852 shares of the construction company’s stock worth $212,000 after acquiring an additional 368 shares during the period. 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.