Tri Pointe Homes (NYSE:TPH) Receives Neutral Rating from Wedbush

Wedbush reissued their neutral rating on shares of Tri Pointe Homes (NYSE:TPH) in a report published on Tuesday,RTT News reports. They currently have a $38.00 target price on the construction company’s stock, down from their previous target price of $44.00.

Several other brokerages also recently issued reports on TPH. 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 report on Friday, October 25th. Royal Bank of Canada lowered their price objective on shares of Tri Pointe Homes from $48.00 to $45.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Finally, StockNews.com cut Tri Pointe Homes from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Tri Pointe Homes presently has an average rating of “Hold” and an average price target of $40.60.

Tri Pointe Homes Stock Performance

NYSE:TPH opened at $31.28 on Tuesday. The firm’s fifty day simple moving average is $36.50 and its 200 day simple moving average is $40.70. The firm has a market capitalization of $2.93 billion, a price-to-earnings ratio of 6.48, a PEG ratio of 0.52 and a beta of 1.64. Tri Pointe Homes has a twelve month low of $30.25 and a twelve month high of $47.78. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.28.

Tri Pointe Homes (NYSE:TPH) last posted its 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 net margin of 10.36% and a return on equity of 14.56%. The business had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.22 billion. As a group, equities research analysts expect that Tri Pointe Homes will post 4.8 earnings per share for the current fiscal year.

Tri Pointe Homes announced that its board has approved a stock repurchase plan on Wednesday, December 18th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the construction company to purchase up to 7.3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In related news, COO Thomas J. Mitchell sold 77,384 shares of the 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 transaction, the chief operating officer now owns 708,159 shares in the company, valued at $27,724,424.85. This trade represents a 9.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.00% of the stock is currently owned by insiders.

Institutional Trading of Tri Pointe Homes

Hedge funds have recently bought and sold shares of the company. Covestor Ltd increased its position in shares of Tri Pointe Homes by 58.5% in the fourth quarter. Covestor Ltd now owns 908 shares of the construction company’s stock worth $33,000 after acquiring an additional 335 shares in the last quarter. Reston Wealth Management LLC purchased a new position in Tri Pointe Homes during the 3rd quarter worth approximately $45,000. Smartleaf Asset Management LLC lifted its holdings in shares of Tri Pointe Homes by 84.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,339 shares of the construction company’s stock valued at $49,000 after purchasing an additional 613 shares in the last quarter. Assetmark Inc. boosted its position in shares of Tri Pointe Homes by 19.6% in the fourth quarter. Assetmark Inc. now owns 1,827 shares of the construction company’s stock worth $66,000 after buying an additional 300 shares during the period. Finally, Sterling Capital Management LLC grew its holdings in shares of Tri Pointe Homes by 729.5% during the fourth quarter. Sterling Capital Management LLC now owns 2,082 shares of the construction company’s stock valued at $75,000 after buying an additional 1,831 shares in the last quarter. 97.01% of the stock is owned by hedge funds and other institutional investors.

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.