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

Shares of Tri Pointe Homes, Inc. (NYSE:TPH) have received a consensus rating of “Moderate Buy” from the five ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $45.75.

Several analysts have recently weighed in on the stock. Wedbush reiterated a “neutral” rating and issued a $42.00 price objective on shares of Tri Pointe Homes in a research note on Thursday, October 24th. Zelman & Associates raised shares of Tri Pointe Homes from an “underperform” rating to a “neutral” rating and set a $43.00 price target for the company in a research note on Tuesday, September 17th. Oppenheimer cut their price objective on shares of Tri Pointe Homes from $56.00 to $53.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Royal Bank of Canada decreased their target price on Tri Pointe Homes from $48.00 to $45.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Finally, StockNews.com downgraded Tri Pointe Homes from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th.

Insider Buying and Selling

In related news, COO Thomas J. Mitchell sold 77,384 shares of Tri Pointe Homes stock in a transaction that occurred on 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 transaction, the chief operating officer now owns 708,159 shares of the company’s stock, valued at $27,724,424.85. The trade was a 9.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tri Pointe Homes

Several large investors have recently bought and sold shares of TPH. Raymond James & Associates raised its holdings in shares of Tri Pointe Homes by 19.2% in the third quarter. Raymond James & Associates now owns 208,566 shares of the construction company’s stock valued at $9,450,000 after purchasing an additional 33,629 shares during the last quarter. Federated Hermes Inc. grew its position in Tri Pointe Homes by 10,048.1% in the 2nd quarter. Federated Hermes Inc. now owns 35,011 shares of the construction company’s stock worth $1,304,000 after purchasing an additional 34,666 shares in the last quarter. Geode Capital Management LLC increased its stake in Tri Pointe Homes by 3.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,485,663 shares of the construction company’s stock valued at $112,644,000 after buying an additional 76,830 shares during the last quarter. Millennium Management LLC lifted its position in shares of Tri Pointe Homes by 14.1% during the 2nd quarter. Millennium Management LLC now owns 925,498 shares of the construction company’s stock worth $34,475,000 after buying an additional 114,244 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Tri Pointe Homes by 404.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 43,849 shares of the construction company’s stock worth $1,987,000 after buying an additional 35,162 shares in the last quarter. 97.01% of the stock is currently owned by institutional investors.

Tri Pointe Homes Stock Performance

Shares of Tri Pointe Homes stock opened at $35.55 on Tuesday. The business has a 50-day moving average price of $40.39 and a two-hundred day moving average price of $41.79. Tri Pointe Homes has a 1-year low of $33.24 and a 1-year high of $47.78. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.28. The company has a market cap of $3.33 billion, a P/E ratio of 7.38, a PEG ratio of 0.64 and a beta of 1.64.

Tri Pointe Homes (NYSE:TPH) last issued its earnings results on Thursday, October 24th. The construction company reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.11. Tri Pointe Homes had a return on equity of 14.83% and a net margin of 10.41%. The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the previous year, the company posted $0.76 earnings per share. The firm’s revenue for the quarter was up 34.9% on a year-over-year basis. As a group, analysts anticipate that Tri Pointe Homes will post 4.72 EPS for the current year.

Tri Pointe Homes announced that its board has approved a stock repurchase program on Wednesday, December 18th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the construction company to repurchase up to 7.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

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.