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

Tri Pointe Homes, Inc. (NYSE:TPH) has received an average rating of “Hold” from the five analysts that are covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $40.60.

A number of equities analysts have issued reports on TPH shares. Royal Bank of Canada cut Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $41.00 to $37.00 in a report on Wednesday, February 19th. Evercore ISI reduced their price target on Tri Pointe Homes from $54.00 to $42.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. Wedbush reiterated a “neutral” rating and issued a $38.00 price target (down previously from $44.00) on shares of Tri Pointe Homes in a research report on Tuesday, February 18th. StockNews.com lowered Tri Pointe Homes from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Finally, Oppenheimer reduced their price target on Tri Pointe Homes from $53.00 to $43.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th.

Insider Activity at Tri Pointe Homes

In related news, COO Thomas J. Mitchell sold 77,384 shares of the company’s 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 sale, the chief operating officer now 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tri Pointe Homes

Institutional investors and hedge funds have recently made changes to their positions in the business. Covestor Ltd boosted its position in shares of Tri Pointe Homes by 58.5% during the 4th quarter. Covestor Ltd now owns 908 shares of the construction company’s stock valued at $33,000 after purchasing an additional 335 shares in the last quarter. Reston Wealth Management LLC acquired a new position in Tri Pointe Homes during the 3rd quarter worth approximately $45,000. Smartleaf Asset Management LLC raised its stake in Tri Pointe Homes by 84.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,339 shares of the construction company’s stock worth $49,000 after buying an additional 613 shares during the period. Assetmark Inc. raised its stake in Tri Pointe Homes by 19.6% during the 4th 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 period. Finally, Sterling Capital Management LLC raised its stake in Tri Pointe Homes by 729.5% during the 4th quarter. Sterling Capital Management LLC now owns 2,082 shares of the construction company’s stock worth $75,000 after buying an additional 1,831 shares during the period. Institutional investors own 97.01% of the company’s stock.

Tri Pointe Homes Price Performance

Shares of TPH opened at $32.65 on Wednesday. Tri Pointe Homes has a 12-month low of $30.25 and a 12-month high of $47.78. The business has a 50-day simple moving average of $35.89 and a two-hundred day simple moving average of $40.44. The company has a quick ratio of 1.64, a current ratio of 2.24 and a debt-to-equity ratio of 0.28. The stock has a market cap of $3.06 billion, a PE ratio of 6.76, a PEG ratio of 0.67 and a beta of 1.64.

Tri Pointe Homes (NYSE:TPH) last issued its earnings results on Tuesday, February 18th. The construction company reported $1.37 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $1.22 billion. Analysts anticipate that Tri Pointe Homes will post 3.58 earnings per share for the current fiscal year.

Tri Pointe Homes announced that its Board of Directors has approved a stock repurchase 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 reacquire up to 7.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

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.