Tri Pointe Homes (NYSE:TPH) Given New $42.00 Price Target at Evercore ISI

Tri Pointe Homes (NYSE:TPH) had its price target cut by equities researchers at Evercore ISI from $54.00 to $42.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the construction company’s stock. Evercore ISI’s price target suggests a potential upside of 36.18% from the stock’s current price.

Other equities research analysts have also issued research reports about the stock. Royal Bank of Canada lowered shares of Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $41.00 to $37.00 in a research note on Wednesday. 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 research note on Tuesday. StockNews.com lowered shares of Tri Pointe Homes from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Finally, Oppenheimer lowered 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 note on Friday, October 25th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Tri Pointe Homes presently has an average rating of “Hold” and an average target price of $42.60.

Tri Pointe Homes Trading Down 4.5 %

TPH traded down $1.44 during trading on Wednesday, hitting $30.84. The company’s stock had a trading volume of 558,262 shares, compared to its average volume of 695,689. The stock has a market cap of $2.89 billion, a PE ratio of 6.40, a PEG ratio of 0.58 and a beta of 1.64. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.64 and a quick ratio of 1.64. The firm’s 50 day moving average price is $36.69 and its 200-day moving average price is $40.76. Tri Pointe Homes has a twelve month low of $30.67 and a twelve month high of $47.78.

Tri Pointe Homes (NYSE:TPH) last released its quarterly earnings data on Tuesday, February 18th. The construction company reported $1.37 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.07. Tri Pointe Homes had a return on equity of 14.83% and a net margin of 10.41%. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.22 billion. On average, analysts expect that Tri Pointe Homes will post 4.72 earnings per share for the current year.

Tri Pointe Homes declared that its Board of Directors has approved a stock repurchase program on Wednesday, December 18th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the construction company to buy up to 7.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other news, COO Thomas J. Mitchell sold 77,384 shares of Tri Pointe Homes stock in a transaction dated Monday, December 16th. The shares were 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 directly owns 708,159 shares in the company, valued at approximately $27,724,424.85. The trade was a 9.85 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.00% of the company’s stock.

Institutional Trading of Tri Pointe Homes

Several large investors have recently made changes to their positions in the business. GSA Capital Partners LLP raised its holdings in Tri Pointe Homes by 4.4% during the 3rd quarter. GSA Capital Partners LLP now owns 6,189 shares of the construction company’s stock worth $280,000 after purchasing an additional 258 shares during the last quarter. Empowered Funds LLC boosted its stake in Tri Pointe Homes by 0.3% in the third quarter. Empowered Funds LLC now owns 99,346 shares of the construction company’s stock valued at $4,501,000 after acquiring an additional 265 shares during the last quarter. CIBC Private Wealth Group LLC grew its holdings in Tri Pointe Homes by 8.8% during the 4th quarter. CIBC Private Wealth Group LLC now owns 3,563 shares of the construction company’s stock worth $126,000 after acquiring an additional 287 shares during the period. Assetmark Inc. lifted its stake in shares of Tri Pointe Homes by 19.6% in the 4th quarter. Assetmark Inc. now owns 1,827 shares of the construction company’s stock valued at $66,000 after purchasing an additional 300 shares during the period. Finally, Covestor Ltd increased its stake in Tri Pointe Homes by 58.5% during the 4th quarter. Covestor Ltd now owns 908 shares of the construction company’s stock worth $33,000 after purchasing an additional 335 shares in the last quarter. 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.