Tri Pointe Homes (NYSE:TPH) Lowered to “Sector Perform” Rating by Royal Bank of Canada

Tri Pointe Homes (NYSE:TPH) was downgraded by equities research analysts at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a research report issued on Wednesday,Briefing.com Automated Import reports. They currently have a $37.00 price objective on the construction company’s stock, down from their prior price objective of $41.00. Royal Bank of Canada’s price objective suggests a potential upside of 14.59% from the company’s current price.

A number of other brokerages have also weighed in on TPH. Wedbush restated a “neutral” rating and issued a $38.00 price objective (down from $44.00) on shares of Tri Pointe Homes in a report on Tuesday. Oppenheimer decreased their price objective on shares of Tri Pointe Homes from $56.00 to $53.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Finally, StockNews.com lowered shares of Tri Pointe Homes from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. Four investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $42.75.

Tri Pointe Homes Stock Performance

Shares of TPH opened at $32.29 on Wednesday. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.28. The business’s 50 day moving average price is $36.87 and its 200-day moving average price is $40.84. Tri Pointe Homes has a 52 week low of $32.17 and a 52 week high of $47.78. The stock has a market cap of $3.02 billion, a P/E ratio of 6.70, a P/E/G ratio of 0.58 and a beta of 1.64.

Tri Pointe Homes (NYSE:TPH) last issued its quarterly earnings results on Tuesday, February 18th. The construction company reported $1.37 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.07. Tri Pointe Homes had a return on equity of 14.83% and a net margin of 10.41%. Equities research analysts anticipate that Tri Pointe Homes will post 4.72 earnings per share for the current fiscal year.

Tri Pointe Homes announced that its board has approved a stock repurchase program on Wednesday, December 18th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the construction company to repurchase up to 7.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Tri Pointe Homes

In other news, COO Thomas J. Mitchell sold 77,384 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $39.15, for a total value of $3,029,583.60. Following the completion of the sale, 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 document filed with the SEC, which is available at this link. 2.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tri Pointe Homes

Several hedge funds and other institutional investors have recently modified their holdings of TPH. CWM LLC increased its stake in shares of Tri Pointe Homes by 39.3% in the 3rd quarter. CWM LLC now owns 3,092 shares of the construction company’s stock worth $140,000 after purchasing an additional 872 shares in the last quarter. Creative Planning boosted its holdings in Tri Pointe Homes by 39.3% in the 3rd quarter. Creative Planning now owns 18,813 shares of the construction company’s stock worth $852,000 after buying an additional 5,310 shares during the period. Blue Trust Inc. boosted its holdings in Tri Pointe Homes by 33.5% in the 3rd quarter. Blue Trust Inc. now owns 2,368 shares of the construction company’s stock worth $107,000 after buying an additional 594 shares during the period. Raymond James & Associates boosted its holdings in Tri Pointe Homes by 19.2% in the 3rd quarter. Raymond James & Associates now owns 208,566 shares of the construction company’s stock worth $9,450,000 after buying an additional 33,629 shares during the period. Finally, Hennion & Walsh Asset Management Inc. bought a new position in Tri Pointe Homes in the 3rd quarter worth $259,000. 97.01% of the stock is currently owned by hedge funds and other institutional investors.

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.