Tri Pointe Homes, Inc. (NYSE:TPH) Given Average Rating of “Moderate Buy” by Analysts

Tri Pointe Homes, Inc. (NYSE:TPH) has been assigned an average recommendation of “Moderate Buy” from the six research firms that are currently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $40.60.

Several analysts have commented on the stock. Evercore ISI decreased their price objective on shares of Tri Pointe Homes from $54.00 to $42.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. Oppenheimer decreased their target price on shares of Tri Pointe Homes from $53.00 to $43.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. Seaport Res Ptn upgraded Tri Pointe Homes from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 6th. Wedbush restated a “neutral” rating and issued a $38.00 target price (down previously from $44.00) on shares of Tri Pointe Homes in a research note on Tuesday, February 18th. Finally, Royal Bank of Canada lowered Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $41.00 to $37.00 in a report on Wednesday, February 19th.

Tri Pointe Homes Trading Down 0.8 %

NYSE:TPH opened at $29.07 on Thursday. The company has a market capitalization of $2.67 billion, a P/E ratio of 6.02, a PEG ratio of 0.67 and a beta of 1.44. The company has a current ratio of 2.24, a quick ratio of 1.64 and a debt-to-equity ratio of 0.28. The firm has a fifty day simple moving average of $31.83 and a 200-day simple moving average of $37.29. Tri Pointe Homes has a 12 month low of $27.90 and a 12 month high of $47.78.

Tri Pointe Homes (NYSE:TPH) last announced its quarterly earnings data on Tuesday, February 18th. The construction company reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.07. Tri Pointe Homes had a return on equity of 14.34% and a net margin of 10.36%. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. On average, equities research analysts anticipate that Tri Pointe Homes will post 3.58 earnings per share for the current year.

Tri Pointe Homes announced that its board has approved a share buyback plan on Wednesday, December 18th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the construction company to purchase up to 7.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On Tri Pointe Homes

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