Tri Pointe Homes (NYSE:TPH) Given Neutral Rating at Wedbush

Wedbush reaffirmed their neutral rating on shares of Tri Pointe Homes (NYSE:TPH) in a report issued on Thursday, Benzinga reports. The firm currently has a $42.00 target price on the construction company’s stock.

Other analysts have also recently issued research reports about the stock. Oppenheimer raised their target price on shares of Tri Pointe Homes from $54.00 to $56.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Zelman & Associates upgraded shares of Tri Pointe Homes from an “underperform” rating to a “neutral” rating and set a $43.00 target price for the company in a research note on Tuesday, September 17th. Evercore ISI upgraded shares of Tri Pointe Homes to a “strong-buy” rating in a research note on Friday, July 26th. Finally, Royal Bank of Canada raised their target price on shares of Tri Pointe Homes from $42.00 to $48.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $47.25.

Tri Pointe Homes Stock Down 0.1 %

Shares of NYSE:TPH opened at $40.69 on Thursday. The stock has a market cap of $3.81 billion, a P/E ratio of 9.26, a P/E/G ratio of 0.70 and a beta of 1.59. The firm has a fifty day moving average price of $44.01 and a 200 day moving average price of $40.81. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. Tri Pointe Homes has a 1-year low of $24.18 and a 1-year high of $47.78.

Tri Pointe Homes (NYSE:TPH) last issued its quarterly earnings results on Thursday, October 24th. The construction company reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.16. The firm had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.05 billion. Tri Pointe Homes had a net margin of 10.28% and a return on equity of 14.03%. Tri Pointe Homes’s quarterly revenue was up 34.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.76 EPS. Sell-side analysts predict that Tri Pointe Homes will post 4.68 EPS for the current year.

Insider Activity at Tri Pointe Homes

In related news, General Counsel David Ch Lee sold 5,000 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $44.28, for a total value of $221,400.00. Following the completion of the sale, the general counsel now owns 85,792 shares in the company, valued at $3,798,869.76. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Tri Pointe Homes news, CFO Glenn J. Keeler sold 24,200 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $46.16, for a total transaction of $1,117,072.00. Following the completion of the transaction, the chief financial officer now directly owns 149,108 shares in the company, valued at approximately $6,882,825.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel David Ch Lee sold 5,000 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $44.28, for a total transaction of $221,400.00. Following the transaction, the general counsel now owns 85,792 shares of the company’s stock, valued at $3,798,869.76. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Tri Pointe Homes

Several hedge funds have recently added to or reduced their stakes in TPH. PNC Financial Services Group Inc. increased its holdings in Tri Pointe Homes by 94.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,407 shares of the construction company’s stock valued at $262,000 after acquiring an additional 3,588 shares in the last quarter. Oliver Luxxe Assets LLC increased its holdings in Tri Pointe Homes by 1.2% during the 1st quarter. Oliver Luxxe Assets LLC now owns 29,399 shares of the construction company’s stock valued at $1,137,000 after acquiring an additional 354 shares in the last quarter. First Trust Direct Indexing L.P. purchased a new position in Tri Pointe Homes during the 1st quarter valued at about $200,000. Principal Financial Group Inc. increased its holdings in Tri Pointe Homes by 0.4% during the 1st quarter. Principal Financial Group Inc. now owns 530,036 shares of the construction company’s stock valued at $20,491,000 after acquiring an additional 2,211 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in shares of Tri Pointe Homes by 132.8% during the first quarter. BNP Paribas Financial Markets now owns 122,337 shares of the construction company’s stock worth $4,730,000 after buying an additional 69,789 shares in the last quarter. 97.01% of the stock is currently 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.