Tri Pointe Homes (NYSE:TPH) Trading Up 3.3% – Here’s Why

Tri Pointe Homes, Inc. (NYSE:TPH)’s stock price traded up 3.3% during mid-day trading on Friday . The company traded as high as $31.29 and last traded at $31.68. 258,131 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 856,772 shares. The stock had previously closed at $30.66.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Evercore ISI lowered their target price on shares of Tri Pointe Homes from $54.00 to $42.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. Royal Bank of Canada downgraded Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $41.00 to $37.00 in a research note on Wednesday, February 19th. Oppenheimer reduced their target price on Tri Pointe Homes from $53.00 to $43.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. Seaport Res Ptn upgraded Tri Pointe Homes from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 6th. Finally, Wedbush restated a “neutral” rating and issued a $38.00 price objective (down from $44.00) on shares of Tri Pointe Homes in a research note on Tuesday, February 18th. Four research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $40.60.

Tri Pointe Homes Trading Up 3.5 %

The business has a fifty day moving average price of $33.30 and a 200 day moving average price of $38.26. The company has a market capitalization of $2.91 billion, a price-to-earnings ratio of 6.57, a price-to-earnings-growth ratio of 0.67 and a beta of 1.71. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.24 and a quick ratio of 1.64.

Tri Pointe Homes (NYSE:TPH) last issued its quarterly earnings results on Tuesday, February 18th. The construction company reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.07. Tri Pointe Homes had a net margin of 10.36% and a return on equity of 14.34%. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.22 billion. On average, equities analysts expect that Tri Pointe Homes, Inc. will post 3.58 EPS for the current fiscal year.

Tri Pointe Homes announced that its board has authorized a share repurchase program on Wednesday, December 18th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the construction company to repurchase up to 7.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On Tri Pointe Homes

Large investors have recently added to or reduced their stakes in the company. Covestor Ltd grew its holdings in shares of Tri Pointe Homes by 58.5% during the 4th quarter. Covestor Ltd now owns 908 shares of the construction company’s stock worth $33,000 after purchasing an additional 335 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in Tri Pointe Homes by 84.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,339 shares of the construction company’s stock worth $49,000 after buying an additional 613 shares in the last quarter. Assetmark Inc. boosted its stake in Tri Pointe Homes by 19.6% during the fourth quarter. Assetmark Inc. now owns 1,827 shares of the construction company’s stock worth $66,000 after buying an additional 300 shares in the last quarter. Sterling Capital Management LLC increased its holdings in Tri Pointe Homes by 729.5% in the 4th quarter. Sterling Capital Management LLC now owns 2,082 shares of the construction company’s stock valued at $75,000 after buying an additional 1,831 shares during the period. Finally, Venturi Wealth Management LLC lifted its holdings in shares of Tri Pointe Homes by 562.1% during the 4th quarter. Venturi Wealth Management LLC now owns 2,238 shares of the construction company’s stock worth $81,000 after acquiring an additional 1,900 shares during the period. Institutional investors and hedge funds 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.