Tri Pointe Homes, Inc. (NYSE:TPH) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Tri Pointe Homes, Inc. (NYSE:TPH) has been assigned a consensus recommendation of “Moderate Buy” from the six analysts that are presently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $40.60.

TPH has been the topic of several recent research reports. Royal Bank of Canada lowered Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and reduced their price target for the stock from $41.00 to $37.00 in a research report on Wednesday, February 19th. Oppenheimer cut their price objective on Tri Pointe Homes from $53.00 to $43.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. Wedbush reiterated a “neutral” rating and issued a $38.00 price objective (down from $44.00) on shares of Tri Pointe Homes in a research report on Tuesday, February 18th. Seaport Res Ptn upgraded Tri Pointe Homes from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 6th. Finally, StockNews.com lowered Tri Pointe Homes from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. GSA Capital Partners LLP lifted its stake in shares of Tri Pointe Homes by 4.4% in the 3rd quarter. GSA Capital Partners LLP now owns 6,189 shares of the construction company’s stock valued at $280,000 after purchasing an additional 258 shares during the period. Empowered Funds LLC boosted its holdings 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 worth $4,501,000 after acquiring an additional 265 shares in the last quarter. CIBC Private Wealth Group LLC boosted its holdings in Tri Pointe Homes by 8.8% in the fourth 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 in the last quarter. Assetmark Inc. boosted its holdings in Tri Pointe Homes by 19.6% in the fourth quarter. Assetmark Inc. now owns 1,827 shares of the construction company’s stock worth $66,000 after acquiring an additional 300 shares in the last quarter. Finally, Covestor Ltd boosted its holdings in Tri Pointe Homes by 58.5% in the fourth quarter. Covestor Ltd now owns 908 shares of the construction company’s stock worth $33,000 after acquiring an additional 335 shares in the last quarter. Hedge funds and other institutional investors own 97.01% of the company’s stock.

Tri Pointe Homes Price Performance

Shares of Tri Pointe Homes stock opened at $31.37 on Friday. 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 has a market capitalization of $2.88 billion, a PE ratio of 6.49, a price-to-earnings-growth ratio of 0.67 and a beta of 1.71. The business’s 50-day moving average price is $34.29 and its 200-day moving average price is $39.03. Tri Pointe Homes has a 12 month low of $30.25 and a 12 month high of $47.78.

Tri Pointe Homes (NYSE:TPH) last announced its quarterly earnings data on Tuesday, February 18th. The construction company reported $1.37 EPS for the quarter, beating the consensus estimate of $1.30 by $0.07. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. Tri Pointe Homes had a return on equity of 14.34% and a net margin of 10.36%. Sell-side analysts forecast that Tri Pointe Homes will post 3.58 EPS for the current fiscal year.

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

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.