Tri Pointe Homes (NYSE:TPH) Lifted to Neutral at Zelman & Associates

Tri Pointe Homes (NYSE:TPH) was upgraded by research analysts at Zelman & Associates from an “underperform” rating to a “neutral” rating in a research note issued on Tuesday, Benzinga reports. The firm presently has a $43.00 price target on the construction company’s stock. Zelman & Associates’ price objective suggests a potential downside of 5.10% from the company’s current price.

TPH has been the subject of a number of other reports. Royal Bank of Canada raised their price target on Tri Pointe Homes from $42.00 to $48.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Evercore ISI raised Tri Pointe Homes to a “strong-buy” rating in a report on Friday, July 26th. Oppenheimer raised their price target on Tri Pointe Homes from $46.00 to $54.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Finally, Wedbush reiterated a “neutral” rating and issued a $42.00 price objective on shares of Tri Pointe Homes in a report on Thursday, July 25th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $46.75.

Tri Pointe Homes Stock Up 2.0 %

Shares of Tri Pointe Homes stock traded up $0.90 during trading on Tuesday, reaching $45.31. The stock had a trading volume of 30,127 shares, compared to its average volume of 925,919. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $4.30 billion, a price-to-earnings ratio of 11.84, a P/E/G ratio of 0.71 and a beta of 1.59. Tri Pointe Homes has a 52 week low of $24.18 and a 52 week high of $47.78. The stock has a fifty day moving average price of $43.02 and a two-hundred day moving average price of $39.19.

Tri Pointe Homes (NYSE:TPH) last posted its quarterly earnings data on Thursday, July 25th. The construction company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.16. Tri Pointe Homes had a net margin of 10.28% and a return on equity of 14.03%. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period last year, the company earned $0.60 earnings per share. The firm’s revenue was up 38.3% compared to the same quarter last year. Sell-side analysts predict that Tri Pointe Homes will post 4.68 EPS for the current fiscal year.

Insider Buying and Selling

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

Institutional Investors Weigh In On Tri Pointe Homes

Large investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. grew its holdings in shares of Tri Pointe Homes by 2.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,013,767 shares of the construction company’s stock worth $35,887,000 after purchasing an additional 27,260 shares in the last quarter. Millennium Management LLC increased its holdings in Tri Pointe Homes by 14.1% in the 2nd quarter. Millennium Management LLC now owns 925,498 shares of the construction company’s stock valued at $34,475,000 after buying an additional 114,244 shares during the period. Bank of New York Mellon Corp raised its position in shares of Tri Pointe Homes by 3.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 916,372 shares of the construction company’s stock valued at $34,135,000 after buying an additional 31,041 shares in the last quarter. GW&K Investment Management LLC acquired a new stake in shares of Tri Pointe Homes during the 4th quarter worth approximately $24,389,000. Finally, Norges Bank bought a new position in Tri Pointe Homes in the fourth quarter valued at approximately $22,862,000. Institutional investors and hedge funds 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.