Tri Pointe Homes (NYSE:TPH) Earns Neutral Rating from Wedbush

Tri Pointe Homes (NYSE:TPH)‘s stock had its “neutral” rating reissued by investment analysts at Wedbush in a report released on Tuesday,RTT News reports. They currently have a $38.00 target price on the construction company’s stock, down from their previous target price of $44.00. Wedbush’s price target would suggest a potential upside of 17.69% from the company’s current price.

Several other equities analysts have also recently issued reports on the company. Royal Bank of Canada dropped their price target on Tri Pointe Homes from $48.00 to $45.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Oppenheimer dropped their target price on Tri Pointe Homes from $56.00 to $53.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Finally, StockNews.com downgraded Tri Pointe Homes from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Tri Pointe Homes presently has a consensus rating of “Moderate Buy” and an average price target of $44.75.

Tri Pointe Homes Stock Performance

Shares of TPH traded down $3.93 during mid-day trading on Tuesday, reaching $32.29. 1,635,882 shares of the company’s stock were exchanged, compared to its average volume of 703,012. The business’s fifty day simple moving average is $36.87 and its 200-day simple moving average is $40.84. Tri Pointe Homes has a 52-week low of $32.17 and a 52-week high of $47.78. The stock has a market capitalization of $3.02 billion, a PE ratio of 6.70, a price-to-earnings-growth ratio of 0.59 and a beta of 1.64. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.64 and a quick ratio of 1.64.

Tri Pointe Homes (NYSE:TPH) last issued its quarterly earnings data on Tuesday, February 18th. The construction company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.07. Tri Pointe Homes had a net margin of 10.41% and a return on equity of 14.83%. On average, equities research analysts expect that Tri Pointe Homes will post 4.72 earnings per share for the current year.

Tri Pointe Homes declared that its board has initiated a stock buyback program on Wednesday, December 18th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the construction company to reacquire up to 7.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its stock is undervalued.

Insider Transactions at Tri Pointe Homes

In other Tri Pointe Homes news, COO Thomas J. Mitchell sold 77,384 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $39.15, for a total transaction of $3,029,583.60. Following the sale, the chief operating officer now directly owns 708,159 shares in the company, valued at approximately $27,724,424.85. The trade was a 9.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Tri Pointe Homes

A number of large investors have recently made changes to their positions in the stock. Pacer Advisors Inc. purchased a new stake in Tri Pointe Homes during the fourth quarter worth about $118,407,000. Castlekeep Investment Advisors LLC purchased a new stake in shares of Tri Pointe Homes during the 4th quarter worth approximately $60,261,000. Assenagon Asset Management S.A. grew its holdings in shares of Tri Pointe Homes by 260.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,417,263 shares of the construction company’s stock worth $64,216,000 after acquiring an additional 1,024,425 shares during the period. Norges Bank acquired a new stake in shares of Tri Pointe Homes in the 4th quarter worth approximately $14,815,000. Finally, Raymond James Financial Inc. purchased a new position in Tri Pointe Homes in the 4th quarter valued at approximately $13,342,000. Hedge funds and other institutional investors 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.