Wedbush Reaffirms “Neutral” Rating for Tri Pointe Homes (NYSE:TPH)

Wedbush reaffirmed their neutral rating on shares of Tri Pointe Homes (NYSE:TPH) in a research note published on Thursday morning, Benzinga reports. Wedbush currently has a $42.00 price objective on the construction company’s stock.

Several other analysts have also recently commented on the stock. Oppenheimer lifted their target price on shares of Tri Pointe Homes from $54.00 to $56.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Royal Bank of Canada lifted their target price on shares of Tri Pointe Homes from $42.00 to $48.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Evercore ISI raised shares of Tri Pointe Homes to a “strong-buy” rating in a research note on Friday, July 26th. Finally, Zelman & Associates upgraded shares of Tri Pointe Homes from an “underperform” rating to a “neutral” rating and set a $43.00 price target on the stock in a report on Tuesday, September 17th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $45.75.

Tri Pointe Homes Trading Down 1.1 %

Shares of TPH opened at $40.28 on Thursday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. The firm has a 50 day simple moving average of $43.98 and a 200-day simple moving average of $40.83. Tri Pointe Homes has a 1-year low of $24.18 and a 1-year high of $47.78. The stock has a market cap of $3.77 billion, a price-to-earnings ratio of 9.15, a price-to-earnings-growth ratio of 0.70 and a beta of 1.59.

Tri Pointe Homes (NYSE:TPH) last released its earnings results on Thursday, October 24th. The construction company reported $1.18 EPS for the quarter, topping the consensus estimate of $1.02 by $0.16. The firm had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.05 billion. Tri Pointe Homes had a net margin of 10.28% and a return on equity of 14.03%. Tri Pointe Homes’s revenue for the quarter was up 34.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.76 EPS. Equities analysts forecast that Tri Pointe Homes will post 4.68 EPS for the current fiscal year.

Insider Buying and Selling at Tri Pointe Homes

In other Tri Pointe Homes news, CFO Glenn J. Keeler sold 24,200 shares of Tri Pointe Homes stock in a transaction on Monday, July 29th. The shares were sold at an average price of $46.16, for a total value of $1,117,072.00. Following the transaction, the chief financial officer now owns 149,108 shares in the company, valued at $6,882,825.28. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, General Counsel David Ch Lee sold 5,000 shares of Tri Pointe Homes stock in a transaction on Friday, September 13th. The shares were sold at an average price of $44.28, for a total transaction of $221,400.00. Following the transaction, the general counsel now owns 85,792 shares in the company, valued at approximately $3,798,869.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Glenn J. Keeler sold 24,200 shares of Tri Pointe Homes stock in a transaction on Monday, July 29th. The shares were sold at an average price of $46.16, for a total transaction of $1,117,072.00. Following the transaction, the chief financial officer now owns 149,108 shares in the company, valued at $6,882,825.28. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tri Pointe Homes

Several hedge funds and other institutional investors have recently made changes to their positions in TPH. Fidelis Capital Partners LLC acquired a new position in shares of Tri Pointe Homes during the 1st quarter valued at $25,000. Gradient Investments LLC purchased a new stake in Tri Pointe Homes during the 2nd quarter worth $30,000. GAMMA Investing LLC increased its stake in Tri Pointe Homes by 63.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,520 shares of the construction company’s stock worth $57,000 after buying an additional 588 shares during the period. Blue Trust Inc. increased its stake in Tri Pointe Homes by 31.7% during the 2nd quarter. Blue Trust Inc. now owns 1,774 shares of the construction company’s stock worth $69,000 after buying an additional 427 shares during the period. Finally, CWM LLC increased its stake in Tri Pointe Homes by 70.8% during the 2nd quarter. CWM LLC now owns 2,220 shares of the construction company’s stock worth $83,000 after buying an additional 920 shares during the period. Institutional investors and hedge funds own 97.01% of the company’s stock.

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.