Tri Pointe Homes (NYSE:TPH) Stock Rating Upgraded by Zelman & Associates

Zelman & Associates upgraded shares of Tri Pointe Homes (NYSE:TPH) from an underperform rating to a neutral rating in a report issued on Tuesday morning, MarketBeat reports. Zelman & Associates currently has $43.00 target price on the construction company’s stock.

TPH has been the subject of a number of other research reports. Royal Bank of Canada raised their target price on shares of Tri Pointe Homes from $42.00 to $48.00 and gave the company an outperform rating in a research report on Friday, July 26th. Oppenheimer raised their price objective on Tri Pointe Homes from $46.00 to $54.00 and gave the company an outperform rating in a report on Friday, July 26th. Evercore ISI raised Tri Pointe Homes to a strong-buy rating in a research report on Friday, July 26th. Finally, Wedbush reissued a neutral rating and set a $42.00 price target on shares of Tri Pointe Homes in a research report on Thursday, July 25th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $46.75.

Tri Pointe Homes Stock Up 2.8 %

TPH stock opened at $46.01 on Tuesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. The stock has a market capitalization of $4.31 billion, a P/E ratio of 12.27, a P/E/G ratio of 0.73 and a beta of 1.59. Tri Pointe Homes has a fifty-two week low of $24.18 and a fifty-two week high of $47.78. The business has a 50-day moving average of $43.45 and a 200-day moving average of $39.34.

Tri Pointe Homes (NYSE:TPH) last released its quarterly earnings results on Thursday, July 25th. The construction company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.16. Tri Pointe Homes had a return on equity of 14.03% and a net margin of 10.28%. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the prior year, the firm posted $0.60 EPS. The business’s revenue was up 38.3% on a year-over-year basis. On average, sell-side analysts anticipate that Tri Pointe Homes will post 4.68 earnings per share for the current fiscal year.

Insider Buying and Selling at Tri Pointe Homes

In other news, General Counsel David Ch Lee sold 5,000 shares of the business’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 directly owns 85,792 shares in the company, valued at approximately $3,798,869.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Glenn J. Keeler sold 24,200 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $46.16, for a total transaction of $1,117,072.00. Following the transaction, the chief financial officer now directly owns 149,108 shares of the company’s stock, valued at approximately $6,882,825.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel David Ch Lee sold 5,000 shares of the stock in a transaction on 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 approximately $3,798,869.76. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Tri Pointe Homes

Several institutional investors and hedge funds have recently modified their holdings of the stock. GW&K Investment Management LLC acquired a new stake in shares of Tri Pointe Homes during the 4th quarter worth about $24,389,000. Norges Bank acquired a new stake in Tri Pointe Homes during the fourth quarter worth approximately $22,862,000. Renaissance Technologies LLC lifted its position in Tri Pointe Homes by 1,417.8% during the second quarter. Renaissance Technologies LLC now owns 443,736 shares of the construction company’s stock worth $16,529,000 after acquiring an additional 414,500 shares during the last quarter. Cubist Systematic Strategies LLC boosted its holdings in shares of Tri Pointe Homes by 149.5% during the second quarter. Cubist Systematic Strategies LLC now owns 534,406 shares of the construction company’s stock worth $19,907,000 after acquiring an additional 320,221 shares during the period. Finally, Jane Street Group LLC grew its position in shares of Tri Pointe Homes by 171.3% in the first quarter. Jane Street Group LLC now owns 293,636 shares of the construction company’s stock valued at $11,352,000 after purchasing an additional 185,395 shares during the last quarter. 97.01% of the stock is currently owned by institutional investors and hedge funds.

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.