Wedbush Reiterates Neutral Rating for Tri Pointe Homes (NYSE:TPH)

Tri Pointe Homes (NYSE:TPH)‘s stock had its “neutral” rating reissued by research analysts at Wedbush in a report released on Thursday, Benzinga reports. They presently have a $35.00 price target on the construction company’s stock. Wedbush’s target price points to a potential downside of 7.58% from the stock’s current price.

A number of other research firms have also commented on TPH. Royal Bank of Canada raised Tri Pointe Homes from a “sector perform” rating to an “outperform” rating and set a $38.00 price target for the company in a research report on Wednesday, March 13th. Oppenheimer reissued an “outperform” rating and issued a $41.00 price target (up from $36.00) on shares of Tri Pointe Homes in a research report on Wednesday, February 21st. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $40.60.

Tri Pointe Homes Trading Up 2.9 %

NYSE TPH opened at $37.87 on Thursday. The firm has a market capitalization of $3.61 billion, a P/E ratio of 10.98, a PEG ratio of 0.76 and a beta of 1.54. The business has a fifty day simple moving average of $35.79 and a 200 day simple moving average of $32.94. Tri Pointe Homes has a 12 month low of $24.18 and a 12 month high of $39.08. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 0.46.

Tri Pointe Homes (NYSE:TPH) last released its quarterly earnings results on Thursday, April 25th. The construction company reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.34. The business had revenue of $918.40 million during the quarter, compared to analyst estimates of $867.77 million. Tri Pointe Homes had a return on equity of 11.75% and a net margin of 9.37%. Tri Pointe Homes’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.73 EPS. On average, analysts predict that Tri Pointe Homes will post 3.65 EPS for the current fiscal year.

Insider Activity

In other news, COO Thomas J. Mitchell sold 51,533 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $35.22, for a total transaction of $1,814,992.26. Following the completion of the sale, the chief operating officer now directly owns 785,543 shares of the company’s stock, valued at approximately $27,666,824.46. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in TPH. Pacer Advisors Inc. grew its stake in shares of Tri Pointe Homes by 63.8% during the 4th quarter. Pacer Advisors Inc. now owns 3,913,521 shares of the construction company’s stock worth $138,539,000 after acquiring an additional 1,524,401 shares during the period. GW&K Investment Management LLC bought a new position in shares of Tri Pointe Homes during the 4th quarter worth $24,389,000. Norges Bank bought a new position in shares of Tri Pointe Homes during the 4th quarter worth $22,862,000. American Century Companies Inc. grew its stake in shares of Tri Pointe Homes by 21.7% during the 3rd quarter. American Century Companies Inc. now owns 1,683,362 shares of the construction company’s stock worth $46,040,000 after acquiring an additional 300,383 shares during the period. Finally, Robeco Institutional Asset Management B.V. grew its stake in shares of Tri Pointe Homes by 44.5% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 800,710 shares of the construction company’s stock worth $21,899,000 after acquiring an additional 246,648 shares during the period. Institutional investors own 97.01% of the company’s stock.

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.