Tri Pointe Homes Inc. (NYSE:TPH) Receives $42.50 Average Price Target from Brokerages

Shares of Tri Pointe Homes Inc. (NYSE:TPH) have received a consensus recommendation of “Hold” from the eight analysts that are covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $42.50.

A number of equities research analysts recently commented on TPH shares. 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 target for the company. Weiss Ratings reissued a “hold (c)” rating on shares of Tri Pointe Homes in a report on Tuesday, January 27th. Oppenheimer cut shares of Tri Pointe Homes from an “outperform” rating to a “market perform” rating in a research report on Friday, February 13th. Royal Bank Of Canada upped their price objective on shares of Tri Pointe Homes from $31.00 to $47.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 17th. Finally, Citigroup began coverage on shares of Tri Pointe Homes in a report on Wednesday, January 7th. They set an “outperform” rating for the company.

Insider Buying and Selling

In other Tri Pointe Homes news, Director Steven J. Gilbert sold 50,000 shares of the stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $46.33, for a total value 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 trade represents a 62.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Tri Pointe Homes

Hedge funds have recently made changes to their positions in the business. Summit Securities Group LLC purchased a new stake in Tri Pointe Homes in the fourth quarter worth $27,000. Harbor Capital Advisors Inc. boosted its holdings in Tri Pointe Homes by 45.2% in 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 3rd quarter valued at $44,000. Farther Finance Advisors LLC increased its position in Tri Pointe Homes by 306.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,383 shares of the construction company’s stock valued at $47,000 after purchasing an additional 1,043 shares during the period. Finally, Rockefeller Capital Management L.P. raised its holdings in Tri Pointe Homes by 29.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,615 shares of the construction company’s stock worth $51,000 after purchasing an additional 367 shares in the last quarter. 97.01% of the stock is owned by hedge funds and other institutional investors.

Tri Pointe Homes Price Performance

Shares of Tri Pointe Homes stock opened at $46.70 on Thursday. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.63 and a quick ratio of 2.63. Tri Pointe Homes has a one year low of $27.90 and a one year high of $46.76. The business’s 50 day simple moving average is $42.21 and its two-hundred day simple moving average is $36.19. The stock has a market capitalization of $3.98 billion, a P/E ratio of 17.17, a price-to-earnings-growth ratio of 1.39 and a beta of 1.33.

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

About Tri Pointe Homes

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.