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

Tri Pointe Homes, Inc. (NYSE:TPH) has earned a consensus recommendation of “Hold” from the five research firms that are currently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $40.60.

A number of brokerages recently commented on TPH. StockNews.com downgraded Tri Pointe Homes from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Oppenheimer decreased their price target on 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. Evercore ISI decreased their price target on Tri Pointe Homes from $54.00 to $42.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. Royal Bank of Canada downgraded Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from $41.00 to $37.00 in a research report on Wednesday, February 19th. Finally, Wedbush reissued a “neutral” rating and set a $38.00 price objective (down from $44.00) on shares of Tri Pointe Homes in a report on Tuesday, February 18th.

Tri Pointe Homes Stock Performance

Shares of Tri Pointe Homes stock opened at $32.65 on Wednesday. The company has a market cap of $3.06 billion, a PE ratio of 6.76, a price-to-earnings-growth ratio of 0.67 and a beta of 1.64. Tri Pointe Homes has a 52 week low of $30.25 and a 52 week high of $47.78. The business has a 50 day moving average price of $35.89 and a 200-day moving average price 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.

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

Tri Pointe Homes declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, December 18th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the construction company to purchase up to 7.3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Tri Pointe Homes

In other Tri Pointe Homes news, COO Thomas J. Mitchell sold 77,384 shares of the stock in a transaction 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 completion of the transaction, the chief operating officer now directly owns 708,159 shares of the company’s stock, valued at approximately $27,724,424.85. This represents a 9.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tri Pointe Homes

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Tri Pointe Homes by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 11,573,813 shares of the construction company’s stock worth $419,666,000 after acquiring an additional 143,365 shares during the period. Pacer Advisors Inc. purchased a new stake in Tri Pointe Homes during the fourth quarter valued at about $118,407,000. Geode Capital Management LLC raised its position in Tri Pointe Homes by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 2,529,823 shares of the construction company’s stock valued at $91,748,000 after purchasing an additional 44,160 shares in the last quarter. GW&K Investment Management LLC raised its position in Tri Pointe Homes by 5.3% during the fourth quarter. GW&K Investment Management LLC now owns 2,036,689 shares of the construction company’s stock valued at $73,850,000 after purchasing an additional 102,187 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of Tri Pointe Homes by 14.0% in the fourth quarter. American Century Companies Inc. now owns 1,946,471 shares of the construction company’s stock worth $70,579,000 after buying an additional 238,807 shares during the period. 97.01% of the stock is owned by institutional investors.

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.