Tri Pointe Homes (NYSE:TPH) Reaches New 1-Year High – Still a Buy?

Tri Pointe Homes Inc. (NYSE:TPH) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $46.76 and last traded at $46.7050, with a volume of 2032260 shares changing hands. The stock had previously closed at $46.75.

Analyst Upgrades and Downgrades

TPH has been the topic of several research analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Tri Pointe Homes in a research report on Tuesday, January 27th. Oppenheimer cut shares of Tri Pointe Homes from an “outperform” rating to a “market perform” rating in a report on Friday, February 13th. Citigroup started coverage on shares of Tri Pointe Homes in a report on Wednesday, January 7th. They set an “outperform” rating on the stock. Citizens Jmp initiated coverage on Tri Pointe Homes in a research report on Wednesday, January 7th. They issued a “market outperform” rating and a $46.00 target price on the stock. Finally, Royal Bank Of Canada raised their target price on Tri Pointe Homes from $31.00 to $47.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 17th. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $42.50.

Tri Pointe Homes Trading Down 0.1%

The company’s fifty day moving average is $43.17 and its two-hundred day moving average is $36.52. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.63 and a current ratio of 2.63. The company has a market cap of $3.98 billion, a price-to-earnings ratio of 17.17, a P/E/G ratio of 1.39 and a beta of 1.30.

Tri Pointe Homes (NYSE:TPH) last announced its quarterly earnings data on Wednesday, February 25th. The construction company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.78 by $0.02. The business had revenue of $972.63 million during the quarter, compared to analysts’ expectations of $917.86 million. Tri Pointe Homes had a net margin of 7.09% and a return on equity of 7.96%. The business’s quarterly revenue was down 22.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.37 EPS. On average, research analysts anticipate that Tri Pointe Homes Inc. will post 3.58 EPS for the current year.

Insider Transactions at Tri Pointe Homes

In related news, Director Steven J. Gilbert sold 50,000 shares of the business’s stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $46.33, for a total transaction of $2,316,500.00. Following the completion of the transaction, the director directly owned 30,330 shares in the company, valued at $1,405,188.90. The trade was a 62.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tri Pointe Homes

A number of institutional investors have recently modified their holdings of the stock. Summit Securities Group LLC acquired a new position in shares of Tri Pointe Homes in the 4th quarter valued at about $27,000. Harbor Capital Advisors Inc. raised its position in Tri Pointe Homes by 45.2% during the third quarter. Harbor Capital Advisors Inc. now owns 1,108 shares of the construction company’s stock valued at $38,000 after acquiring an additional 345 shares in the last quarter. Fulcrum Asset Management LLP purchased a new position in Tri Pointe Homes during the third quarter valued at approximately $44,000. Farther Finance Advisors LLC lifted its holdings in Tri Pointe Homes by 306.8% in the third quarter. Farther Finance Advisors LLC now owns 1,383 shares of the construction company’s stock valued at $47,000 after acquiring an additional 1,043 shares during the period. Finally, Rockefeller Capital Management L.P. lifted its holdings in Tri Pointe Homes by 29.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,615 shares of the construction company’s stock valued at $51,000 after acquiring an additional 367 shares during the period. Hedge funds and other institutional investors own 97.01% of the company’s stock.

Tri Pointe Homes Company Profile

Tri Pointe Homes, Inc (NYSE: TPH) is a national homebuilder engaged in the acquisition, development, construction, marketing and sale of single-family detached homes and attached products. The company’s operations span a range of new residential communities, offering customizable floor plans in both tract and luxury segments. Its integrated business model encompasses land sourcing, entitlement, design, construction oversight and in-house customer care and warranty service.

Founded in 2009 through the combination of three regional builders, Tri Pointe Homes has grown into a prominent player across key western U.S.