Tri Pointe Homes (NYSE:TPH) Shares Gap Up to $25.97

Tri Pointe Homes, Inc. (NYSE:TPH)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $25.97, but opened at $26.80. Tri Pointe Homes shares last traded at $27.42, with a volume of 5,766 shares.

A number of equities analysts have weighed in on TPH shares. B. Riley restated a “buy” rating and set a $34.00 price objective (up from $31.00) on shares of Tri Pointe Homes in a research report on Friday, October 22nd. Royal Bank of Canada upgraded shares of Tri Pointe Homes from an “underperform” rating to a “sector perform” rating and increased their target price for the company from $22.00 to $25.00 in a research report on Friday, October 22nd. Finally, Zacks Investment Research cut shares of Tri Pointe Homes from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 24th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $27.20.

The firm has a market capitalization of $2.91 billion, a price-to-earnings ratio of 7.11 and a beta of 1.48. The stock’s 50-day moving average price is $26.28 and its 200 day moving average price is $23.88. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.57.

Tri Pointe Homes (NYSE:TPH) last released its quarterly earnings data on Thursday, October 21st. The construction company reported $1.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.28. Tri Pointe Homes had a net margin of 11.41% and a return on equity of 19.20%. The firm had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $947.82 million. During the same period last year, the business earned $0.63 earnings per share. Tri Pointe Homes’s revenue was up 24.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Tri Pointe Homes, Inc. will post 3.91 earnings per share for the current year.

Institutional investors have recently added to or reduced their stakes in the stock. Signaturefd LLC increased its position in Tri Pointe Homes by 63.4% during the third quarter. Signaturefd LLC now owns 1,183 shares of the construction company’s stock worth $25,000 after purchasing an additional 459 shares during the last quarter. Wealth Quarterback LLC increased its position in Tri Pointe Homes by 65.5% during the third quarter. Wealth Quarterback LLC now owns 2,886 shares of the construction company’s stock worth $37,000 after purchasing an additional 1,142 shares during the last quarter. FORA Capital LLC acquired a new stake in Tri Pointe Homes during the second quarter worth about $54,000. Lazard Asset Management LLC increased its position in Tri Pointe Homes by 20.6% during the second quarter. Lazard Asset Management LLC now owns 4,926 shares of the construction company’s stock worth $105,000 after purchasing an additional 842 shares during the last quarter. Finally, William Blair Investment Management LLC acquired a new stake in Tri Pointe Homes during the second quarter worth about $122,000. Hedge funds and other institutional investors own 97.94% of the company’s stock.

About Tri Pointe Homes (NYSE:TPH)

Tri Pointe Homes, Inc designs constructs and sells single-family homes and condominiums. It operates through the Homebuilding and Financial Services segments. The Homebuilding segment consists of six reportable segments: Maracay Homes, consisting of operations in Arizona; Pardee Homes, consisting of operations in California and Nevada; Quadrant Homes, consisting of operations in Washington; Trendmaker Homes, consisting of operations in Texas; TRI Pointe Homes, consisting of operations in California and Colorado; and Winchester Homes, consisting of operations in Maryland and Virginia.

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