Tri Pointe Homes (NYSE:TPH) Hits New 12-Month High – Time to Buy?

Tri Pointe Homes Inc. (NYSE:TPH)’s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as $46.67 and last traded at $46.6260, with a volume of 1121500 shares changing hands. The stock had previously closed at $46.39.

Analysts Set New Price Targets

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

Tri Pointe Homes Stock Up 0.1%

The business’s fifty day moving average price is $40.62 and its two-hundred day moving average price is $35.66. 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 firm has a market capitalization of $3.97 billion, a P/E ratio of 17.13, a PEG ratio of 1.39 and a beta of 1.34.

Tri Pointe Homes (NYSE:TPH) last posted its quarterly earnings data on Wednesday, February 25th. The construction company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.78 by $0.02. The firm had revenue of $972.63 million during the quarter, compared to analyst estimates of $917.86 million. Tri Pointe Homes had a net margin of 7.09% and a return on equity of 7.96%. Tri Pointe Homes’s revenue was down 22.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.37 EPS. Equities analysts expect that Tri Pointe Homes Inc. will post 3.58 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Steven J. Gilbert sold 50,000 shares of the stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $46.33, for a total transaction of $2,316,500.00. Following the completion of the sale, the director owned 30,330 shares in the company, valued at approximately $1,405,188.90. This represents a 62.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Lido Advisors LLC increased its stake in shares of Tri Pointe Homes by 3.5% in the fourth quarter. Lido Advisors LLC now owns 9,751 shares of the construction company’s stock worth $326,000 after acquiring an additional 327 shares during the period. Harbor Capital Advisors Inc. lifted 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 purchasing an additional 345 shares during the period. Rockefeller Capital Management L.P. boosted 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 purchasing an additional 367 shares during the last quarter. Federated Hermes Inc. boosted its holdings in Tri Pointe Homes by 0.6% in the third quarter. Federated Hermes Inc. now owns 63,082 shares of the construction company’s stock valued at $2,143,000 after purchasing an additional 373 shares during the last quarter. Finally, Coldstream Capital Management Inc. grew its position in Tri Pointe Homes by 3.9% during the 4th quarter. Coldstream Capital Management Inc. now owns 10,507 shares of the construction company’s stock worth $331,000 after purchasing an additional 394 shares during the period. 97.01% of the stock is currently owned by hedge funds and other institutional investors.

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.