Wedbush Reaffirms “Neutral” Rating for Tri Pointe Homes (NYSE:TPH)

Wedbush restated their neutral rating on shares of Tri Pointe Homes (NYSE:TPH) in a research report report published on Thursday, Benzinga reports. Wedbush currently has a $35.00 price target on the construction company’s stock.

Other equities research analysts also recently issued research reports about the company. Royal Bank of Canada raised Tri Pointe Homes from a sector perform rating to an outperform rating and set a $38.00 price target on the stock in a research report on Wednesday, March 13th. Oppenheimer reissued an outperform rating and set a $41.00 price target (up previously from $36.00) on shares of Tri Pointe Homes in a research report on Wednesday, February 21st. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $40.60.

Tri Pointe Homes Price Performance

Shares of NYSE TPH opened at $37.88 on Thursday. The firm has a market cap of $3.62 billion, a P/E ratio of 10.10, a price-to-earnings-growth ratio of 0.80 and a beta of 1.54. The company has a current ratio of 1.99, a quick ratio of 2.11 and a debt-to-equity ratio of 0.45. Tri Pointe Homes has a 1-year low of $24.18 and a 1-year high of $39.08. The business’s 50 day moving average is $35.79 and its 200-day moving average is $33.01.

Tri Pointe Homes (NYSE:TPH) last announced its earnings results on Thursday, April 25th. The construction company reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.34. The company had revenue of $918.40 million for the quarter, compared to analyst estimates of $867.77 million. Tri Pointe Homes had a return on equity of 12.39% and a net margin of 9.62%. The firm’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.73 earnings per share. Equities research analysts predict that Tri Pointe Homes will post 3.65 earnings per share for the current year.

Insider Buying and Selling at Tri Pointe Homes

In other Tri Pointe Homes 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 value of $1,814,992.26. Following the sale, the chief operating officer now owns 785,543 shares of the company’s stock, valued at approximately $27,666,824.46. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Tri Pointe Homes

Large investors have recently modified their holdings of the business. Daiwa Securities Group Inc. acquired a new stake in shares of Tri Pointe Homes in the 4th quarter valued at $35,000. Evermay Wealth Management LLC acquired a new stake in shares of Tri Pointe Homes during the 4th quarter valued at $35,000. Ronald Blue Trust Inc. boosted its holdings in shares of Tri Pointe Homes by 168.1% during the 3rd quarter. Ronald Blue Trust Inc. now owns 1,016 shares of the construction company’s stock valued at $28,000 after acquiring an additional 637 shares in the last quarter. GAMMA Investing LLC acquired a new stake in shares of Tri Pointe Homes during the 4th quarter valued at $41,000. Finally, Assetmark Inc. boosted its holdings in shares of Tri Pointe Homes by 29,825.0% during the 4th quarter. Assetmark Inc. now owns 1,197 shares of the construction company’s stock valued at $42,000 after acquiring an additional 1,193 shares in the last quarter. 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.