Brokerages Set Tri Pointe Homes, Inc. (NYSE:TPH) Price Target at $38.20

Shares of Tri Pointe Homes, Inc. (NYSE:TPH) have been assigned a consensus rating of “Moderate Buy” from the five ratings firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $38.20.

A number of research firms have commented on TPH. Oppenheimer reissued an “outperform” rating and issued a $41.00 target price (up previously from $36.00) on shares of Tri Pointe Homes in a report on Wednesday, February 21st. Royal Bank of Canada raised Tri Pointe Homes from a “sector perform” rating to an “outperform” rating and set a $38.00 price objective for the company in a report on Wednesday, March 13th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $32.00 price objective on shares of Tri Pointe Homes in a report on Tuesday, February 20th.

Insider Buying and Selling

In related news, COO Thomas J. Mitchell sold 51,533 shares of Tri Pointe Homes stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $35.22, for a total transaction of $1,814,992.26. Following the transaction, the chief operating officer now directly owns 785,543 shares in the company, valued at $27,666,824.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tri Pointe Homes

Several institutional investors and hedge funds have recently bought and sold shares of TPH. AE Wealth Management LLC lifted its position in Tri Pointe Homes by 35.3% during the third quarter. AE Wealth Management LLC now owns 106,913 shares of the construction company’s stock valued at $2,924,000 after purchasing an additional 27,878 shares in the last quarter. Ronald Blue Trust Inc. lifted its position in shares of Tri Pointe Homes by 168.1% in the third quarter. Ronald Blue Trust Inc. now owns 1,016 shares of the construction company’s stock valued at $28,000 after acquiring an additional 637 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Tri Pointe Homes in the third quarter valued at about $3,146,000. Summit Global Investments lifted its position in shares of Tri Pointe Homes by 269.2% in the third quarter. Summit Global Investments now owns 33,663 shares of the construction company’s stock valued at $921,000 after acquiring an additional 24,546 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its position in shares of Tri Pointe Homes by 1,642.6% in the third quarter. Exchange Traded Concepts LLC now owns 33,980 shares of the construction company’s stock valued at $929,000 after acquiring an additional 32,030 shares in the last quarter. 97.01% of the stock is currently owned by hedge funds and other institutional investors.

Tri Pointe Homes Stock Down 1.3 %

Tri Pointe Homes stock opened at $36.17 on Monday. The firm has a market cap of $3.45 billion, a price-to-earnings ratio of 10.48, a PEG ratio of 0.74 and a beta of 1.54. The stock has a fifty day simple moving average of $35.71 and a two-hundred day simple moving average of $32.83. Tri Pointe Homes has a 12 month low of $24.18 and a 12 month high of $39.08. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 0.46.

Tri Pointe Homes (NYSE:TPH) last posted its earnings results on Tuesday, February 20th. The construction company reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.24. The business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.20 billion. Tri Pointe Homes had a return on equity of 11.75% and a net margin of 9.37%. The company’s quarterly revenue was down 17.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.98 EPS. Equities analysts predict that Tri Pointe Homes will post 3.65 EPS for the current fiscal year.

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.