Tri Pointe Homes, Inc. (NYSE:TPH) Receives Average Recommendation of “Moderate Buy” from Brokerages

Tri Pointe Homes, Inc. (NYSE:TPH) has earned an average recommendation of “Moderate Buy” from the five ratings firms that are currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $45.75.

Several analysts have recently commented on TPH shares. Oppenheimer decreased their price objective 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. StockNews.com cut Tri Pointe Homes from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. Zelman & Associates upgraded Tri Pointe Homes from an “underperform” rating to a “neutral” rating and set a $43.00 price objective on the stock in a research report on Tuesday, September 17th. Royal Bank of Canada cut their target price on Tri Pointe Homes from $48.00 to $45.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Finally, Wedbush reissued a “neutral” rating and issued a $42.00 price target on shares of Tri Pointe Homes in a report on Thursday, October 24th.

Tri Pointe Homes Stock Performance

NYSE:TPH opened at $35.99 on Tuesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.64 and a current ratio of 1.64. The stock has a 50-day simple moving average of $40.39 and a two-hundred day simple moving average of $41.72. The firm has a market capitalization of $3.37 billion, a PE ratio of 7.47, a P/E/G ratio of 0.64 and a beta of 1.64. Tri Pointe Homes has a 52-week low of $33.24 and a 52-week high of $47.78.

Tri Pointe Homes (NYSE:TPH) last announced its quarterly earnings data on Thursday, October 24th. The construction company reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.11. Tri Pointe Homes had a return on equity of 14.83% and a net margin of 10.41%. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the previous year, the company posted $0.76 EPS. The firm’s revenue was up 34.9% on a year-over-year basis. Analysts forecast that Tri Pointe Homes will post 4.72 EPS for the current year.

Tri Pointe Homes announced that its board has approved a share repurchase program on Wednesday, December 18th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the construction company to repurchase up to 7.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Insider Activity at Tri Pointe Homes

In other news, COO Thomas J. Mitchell sold 77,384 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $39.15, for a total transaction of $3,029,583.60. Following the sale, the chief operating officer now directly owns 708,159 shares of the company’s stock, valued at $27,724,424.85. This represents a 9.85 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tri Pointe Homes

Hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC raised its position in shares of Tri Pointe Homes by 3.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,485,663 shares of the construction company’s stock valued at $112,644,000 after buying an additional 76,830 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in Tri Pointe Homes by 260.8% during the third quarter. Assenagon Asset Management S.A. now owns 1,417,263 shares of the construction company’s stock worth $64,216,000 after acquiring an additional 1,024,425 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Tri Pointe Homes by 11.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,165,651 shares of the construction company’s stock valued at $52,816,000 after purchasing an additional 115,099 shares during the period. Millennium Management LLC lifted its stake in shares of Tri Pointe Homes by 14.1% in the 2nd quarter. Millennium Management LLC now owns 925,498 shares of the construction company’s stock valued at $34,475,000 after purchasing an additional 114,244 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Tri Pointe Homes by 3.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 916,372 shares of the construction company’s stock worth $34,135,000 after purchasing an additional 31,041 shares during the period. Hedge funds and other 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.