Tri Pointe Homes (NYSE:TPH) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of Tri Pointe Homes (NYSE:TPH) from a hold rating to a buy rating in a research note issued to investors on Friday.

Other research analysts also recently issued research reports about the stock. Wedbush reissued a neutral rating and issued a $35.00 price objective on shares of Tri Pointe Homes in a research report on Thursday. Oppenheimer lifted their price objective on shares of Tri Pointe Homes from $41.00 to $46.00 and gave the company an outperform rating in a research report on Friday. Finally, Royal Bank of Canada lifted their price objective on shares of Tri Pointe Homes from $38.00 to $42.00 and gave the company an outperform rating in a research report on Friday. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $40.60.

Tri Pointe Homes Stock Performance

Shares of TPH opened at $37.87 on Friday. The firm has a 50-day moving average of $35.79 and a 200-day moving average of $32.94. Tri Pointe Homes has a one year low of $24.18 and a one year high of $39.08. The company has a market cap of $3.61 billion, a PE ratio of 10.10, a price-to-earnings-growth ratio of 0.77 and a beta of 1.54. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.99 and a quick ratio of 2.11.

Tri Pointe Homes (NYSE:TPH) last announced its quarterly earnings data on Thursday, April 25th. The construction company reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.34. Tri Pointe Homes had a net margin of 9.62% and a return on equity of 12.39%. The company had revenue of $918.40 million during the quarter, compared to the consensus estimate of $867.77 million. During the same quarter last year, the firm posted $0.73 EPS. The company’s quarterly revenue was up 19.5% on a year-over-year basis. As a group, equities analysts forecast that Tri Pointe Homes will post 3.65 earnings per share for the current year.

Insider Transactions at Tri Pointe Homes

In other news, COO Thomas J. Mitchell sold 51,533 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The shares were 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 owns 785,543 shares in the company, valued at approximately $27,666,824.46. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 2.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Tri Pointe Homes

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Aspen Investment Management Inc acquired a new stake in Tri Pointe Homes in the 1st quarter worth about $411,000. New York State Teachers Retirement System raised its stake in Tri Pointe Homes by 5.0% in the 1st quarter. New York State Teachers Retirement System now owns 64,040 shares of the construction company’s stock worth $2,476,000 after purchasing an additional 3,063 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in Tri Pointe Homes by 51.4% in the 1st quarter. Assenagon Asset Management S.A. now owns 451,148 shares of the construction company’s stock worth $17,441,000 after purchasing an additional 153,109 shares in the last quarter. New Mexico Educational Retirement Board acquired a new stake in Tri Pointe Homes in the 1st quarter worth about $955,000. Finally, First Trust Direct Indexing L.P. acquired a new stake in Tri Pointe Homes in the 1st quarter worth about $200,000. 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.