Tri Pointe Homes (NYSE:TPH) Hits New 52-Week Low – Here’s What Happened

Tri Pointe Homes, Inc. (NYSE:TPH)’s share price reached a new 52-week low on Tuesday . The stock traded as low as $33.03 and last traded at $33.62, with a volume of 141128 shares changing hands. The stock had previously closed at $36.22.

Wall Street Analyst Weigh In

TPH has been the subject of a number of research analyst reports. Royal Bank of Canada reduced their price objective on Tri Pointe Homes from $48.00 to $45.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Wedbush restated a “neutral” rating and issued a $38.00 price target (down from $44.00) on shares of Tri Pointe Homes in a research note on Tuesday. StockNews.com cut shares of Tri Pointe Homes from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Finally, Oppenheimer decreased their target price on shares of Tri Pointe Homes from $56.00 to $53.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $44.75.

Tri Pointe Homes Price Performance

The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $3.02 billion, a price-to-earnings ratio of 6.70, a P/E/G ratio of 0.59 and a beta of 1.64. The business’s 50 day simple moving average is $36.87 and its 200-day simple moving average is $40.84.

Tri Pointe Homes (NYSE:TPH) last announced its quarterly earnings data on Tuesday, February 18th. The construction company reported $1.37 EPS for the quarter, beating the consensus estimate of $1.30 by $0.07. Tri Pointe Homes had a net margin of 10.41% and a return on equity of 14.83%. On average, research analysts forecast that Tri Pointe Homes, Inc. will post 4.72 earnings per share for the current year.

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

Insider Buying and Selling at Tri Pointe Homes

In other Tri Pointe Homes news, COO Thomas J. Mitchell sold 77,384 shares of the stock in a transaction dated 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 directly owns 708,159 shares in the company, valued at approximately $27,724,424.85. This trade represents a 9.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TPH. Covestor Ltd increased its position in Tri Pointe Homes by 58.5% in the 4th quarter. Covestor Ltd now owns 908 shares of the construction company’s stock valued at $33,000 after acquiring an additional 335 shares during the period. Reston Wealth Management LLC acquired a new stake in Tri Pointe Homes in the third quarter valued at $45,000. Smartleaf Asset Management LLC raised its position in Tri Pointe Homes by 84.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,339 shares of the construction company’s stock worth $49,000 after purchasing an additional 613 shares during the last quarter. Assetmark Inc. lifted its holdings in Tri Pointe Homes by 19.6% during the 4th 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 position in shares of Tri Pointe Homes by 729.5% in the 4th 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 during the last quarter. Institutional investors own 97.01% of the company’s stock.

About Tri Pointe Homes

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.