Brokerages Set Tri Pointe Homes, Inc. (NYSE:TPH) PT at $40.60

Shares of Tri Pointe Homes, Inc. (NYSE:TPH) have been given an average recommendation of “Moderate Buy” by the six research firms that are presently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $40.60.

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

Tri Pointe Homes Stock Performance

NYSE TPH opened at $31.93 on Friday. Tri Pointe Homes has a 1 year low of $30.25 and a 1 year high of $47.78. The firm has a market capitalization of $2.93 billion, a price-to-earnings ratio of 6.61, a P/E/G ratio of 0.67 and a beta of 1.71. 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’s 50 day simple moving average is $34.35 and its 200 day simple moving average is $39.15.

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, topping the consensus estimate 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 the consensus estimate of $1.22 billion. As a group, research analysts expect that Tri Pointe Homes will post 3.58 earnings per share for the current fiscal year.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Pacer Advisors Inc. bought a new position in Tri Pointe Homes during the 4th quarter worth approximately $118,407,000. Castlekeep Investment Advisors LLC acquired a new stake in shares of Tri Pointe Homes during the fourth quarter worth $60,261,000. Norges Bank bought a new position in Tri Pointe Homes during the fourth quarter worth $14,815,000. Raymond James Financial Inc. acquired a new position in Tri Pointe Homes in the fourth quarter valued at $13,342,000. Finally, Weiss Asset Management LP acquired a new position in Tri Pointe Homes in the third quarter valued at $16,066,000. 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.