Cibc World Markets Corp Makes New Investment in Tri Pointe Homes, Inc. (NYSE:TPH)

Cibc World Markets Corp purchased a new stake in Tri Pointe Homes, Inc. (NYSE:TPH - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund purchased 8,628 shares of the construction company's stock, valued at approximately $313,000.

Other large investors have also recently added to or reduced their stakes in the company. Royce & Associates LP increased its stake in shares of Tri Pointe Homes by 12.0% during the 4th quarter. Royce & Associates LP now owns 539,080 shares of the construction company's stock valued at $19,547,000 after acquiring an additional 57,559 shares during the last quarter. Vestcor Inc purchased a new stake in Tri Pointe Homes in the fourth quarter valued at approximately $265,000. HighTower Advisors LLC acquired a new position in Tri Pointe Homes during the fourth quarter worth approximately $5,553,000. Inspire Advisors LLC raised its stake in Tri Pointe Homes by 13.0% during the fourth quarter. Inspire Advisors LLC now owns 17,547 shares of the construction company's stock worth $636,000 after purchasing an additional 2,022 shares during the period. Finally, Daiwa Securities Group Inc. boosted its holdings in shares of Tri Pointe Homes by 22.7% in the 4th quarter. Daiwa Securities Group Inc. now owns 15,700 shares of the construction company's stock valued at $569,000 after purchasing an additional 2,900 shares during the last quarter. 97.01% of the stock is currently owned by hedge funds and other institutional investors.

Tri Pointe Homes Stock Down 2.3 %

Shares of Tri Pointe Homes stock traded down $0.76 on Friday, hitting $31.88. 890,474 shares of the company's stock traded hands, compared to its average volume of 858,188. The company has a quick ratio of 1.64, a current ratio of 2.24 and a debt-to-equity ratio of 0.28. The firm's 50-day moving average is $33.97 and its 200 day moving average is $38.77. The stock has a market cap of $2.92 billion, a P/E ratio of 6.60, a PEG ratio of 0.67 and a beta of 1.71. Tri Pointe Homes, Inc. has a 52-week low of $30.25 and a 52-week high of $47.78.

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Tri Pointe Homes (NYSE:TPH - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The construction company reported $1.37 EPS for the quarter, beating the consensus estimate of $1.30 by $0.07. The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.22 billion. Tri Pointe Homes had a net margin of 10.36% and a return on equity of 14.34%. Equities analysts anticipate that Tri Pointe Homes, Inc. will post 3.58 earnings per share for the current year.

Tri Pointe Homes declared that its Board of Directors has initiated a stock buyback program on Wednesday, December 18th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the construction company to repurchase up to 7.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its stock is undervalued.

Analyst Ratings Changes

Several research analysts recently weighed in on TPH shares. Oppenheimer cut their target price on Tri Pointe Homes from $53.00 to $43.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 19th. Evercore ISI reduced their price target on Tri Pointe Homes from $54.00 to $42.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 19th. Seaport Res Ptn raised shares of Tri Pointe Homes from a "hold" rating to a "strong-buy" rating in a research report on Thursday, March 6th. Wedbush reissued a "neutral" rating and set a $38.00 target price (down from $44.00) on shares of Tri Pointe Homes in a research report on Tuesday, February 18th. Finally, StockNews.com lowered shares of Tri Pointe Homes from a "buy" rating to a "hold" rating in a report on Tuesday, December 17th. Four analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $40.60.

Tri Pointe Homes Profile

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.