Tri Pointe Homes (NYSE:TPH) Sets New 1-Year Low – What’s Next?

Shares of Tri Pointe Homes, Inc. (NYSE:TPH) hit a new 52-week low during trading on Tuesday . The company traded as low as $33.03 and last traded at $33.62, with a volume of 141128 shares traded. The stock had previously closed at $36.22.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Royal Bank of Canada cut their target price on shares of 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. StockNews.com lowered shares of Tri Pointe Homes from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. Wedbush reaffirmed 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. Finally, Oppenheimer cut their price target on Tri Pointe Homes from $56.00 to $53.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $44.75.

Tri Pointe Homes Price Performance

The company’s 50 day simple moving average is $36.87 and its 200 day simple moving average is $40.84. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.64 and a quick ratio of 1.64. The stock has a market cap of $3.02 billion, a P/E ratio of 6.70, a P/E/G ratio of 0.59 and a beta of 1.64.

Tri Pointe Homes (NYSE:TPH) last announced its earnings results on Tuesday, February 18th. The construction company reported $1.37 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%. As a group, equities analysts forecast that Tri Pointe Homes, Inc. will post 4.72 earnings per share for the current year.

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

Insider Activity

In other news, COO Thomas J. Mitchell sold 77,384 shares of the stock in a transaction dated 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 completion of the transaction, the chief operating officer now directly owns 708,159 shares in the company, valued at $27,724,424.85. This represents a 9.85 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. GSA Capital Partners LLP boosted its holdings in shares of Tri Pointe Homes by 4.4% in the 3rd quarter. GSA Capital Partners LLP now owns 6,189 shares of the construction company’s stock valued at $280,000 after buying an additional 258 shares during the last quarter. Empowered Funds LLC lifted its position in shares of Tri Pointe Homes by 0.3% in the third quarter. Empowered Funds LLC now owns 99,346 shares of the construction company’s stock valued at $4,501,000 after buying an additional 265 shares during the last quarter. CIBC Private Wealth Group LLC boosted its stake in shares of Tri Pointe Homes by 8.8% during the 4th quarter. CIBC Private Wealth Group LLC now owns 3,563 shares of the construction company’s stock worth $126,000 after acquiring an additional 287 shares during the period. Assetmark Inc. increased its holdings in shares of Tri Pointe Homes by 19.6% during the 4th quarter. Assetmark Inc. now owns 1,827 shares of the construction company’s stock worth $66,000 after acquiring an additional 300 shares during the last quarter. Finally, Covestor Ltd raised its stake in Tri Pointe Homes by 58.5% in the 4th quarter. Covestor Ltd now owns 908 shares of the construction company’s stock valued at $33,000 after acquiring an additional 335 shares during the period. 97.01% of the stock is owned by institutional investors and hedge funds.

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.