Tri Pointe Homes (NYSE:TPH) Rating Reiterated by Wedbush

Tri Pointe Homes (NYSE:TPH)‘s stock had its “neutral” rating reissued by equities researchers at Wedbush in a research report issued on Thursday, Benzinga reports. They currently have a $42.00 price objective on the construction company’s stock. Wedbush’s price target points to a potential upside of 4.27% from the stock’s previous close.

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

Tri Pointe Homes Trading Down 1.1 %

Shares of NYSE TPH opened at $40.28 on Thursday. Tri Pointe Homes has a fifty-two week low of $24.18 and a fifty-two week high of $47.78. The firm has a market capitalization of $3.77 billion, a P/E ratio of 9.15, a P/E/G ratio of 0.70 and a beta of 1.59. 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 company’s 50 day simple moving average is $43.98 and its 200 day simple moving average is $40.83.

Tri Pointe Homes (NYSE:TPH) last posted its quarterly earnings results on Thursday, October 24th. The construction company reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.16. Tri Pointe Homes had a return on equity of 14.03% and a net margin of 10.28%. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the prior year, the business posted $0.76 EPS. The firm’s quarterly revenue was up 34.9% on a year-over-year basis. On average, analysts predict that Tri Pointe Homes will post 4.68 EPS for the current year.

Insiders Place Their Bets

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

Institutional Trading of Tri Pointe Homes

A number of hedge funds and other institutional investors have recently made changes to their positions in TPH. Fidelis Capital Partners LLC acquired a new position in Tri Pointe Homes during the first quarter worth $25,000. Gradient Investments LLC bought a new stake in Tri Pointe Homes during the 2nd quarter worth about $30,000. GAMMA Investing LLC boosted its stake in shares of 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 last quarter. Blue Trust Inc. grew its holdings in shares of Tri Pointe Homes by 31.7% in the 2nd quarter. Blue Trust Inc. now owns 1,774 shares of the construction company’s stock valued at $69,000 after acquiring an additional 427 shares in the last quarter. Finally, CWM LLC increased its position in shares of Tri Pointe Homes by 70.8% in the second quarter. CWM LLC now owns 2,220 shares of the construction company’s stock valued at $83,000 after acquiring an additional 920 shares during the last quarter. 97.01% of the stock is currently owned by institutional investors and hedge funds.

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.