Tri Pointe Homes (NYSE:TPH) Shares Gap Down - Here's What Happened

Shares of Tri Pointe Homes, Inc. (NYSE:TPH - Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $41.43, but opened at $39.60. Tri Pointe Homes shares last traded at $39.67, with a volume of 108,977 shares traded.

Analyst Ratings Changes

TPH has been the subject of a number of recent research reports. Evercore ISI raised Tri Pointe Homes to a "strong-buy" rating in a report on Friday, July 26th. Oppenheimer lowered their price objective on Tri Pointe Homes from $56.00 to $53.00 and set an "outperform" rating for the company in a research note on Friday. Wedbush reiterated a "neutral" rating and issued a $42.00 price objective on shares of Tri Pointe Homes in a report on Thursday, October 24th. Zelman & Associates raised shares of Tri Pointe Homes from an "underperform" rating to a "neutral" rating and set a $43.00 target price on the stock in a report on Tuesday, September 17th. Finally, Royal Bank of Canada dropped their price target on shares of Tri Pointe Homes from $48.00 to $45.00 and set an "outperform" rating for the company in a research note on Friday. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $45.75.

Tri Pointe Homes Stock Performance

The company has a market capitalization of $3.82 billion, a price-to-earnings ratio of 8.60, a price-to-earnings-growth ratio of 0.66 and a beta of 1.59. The stock has a 50 day moving average of $43.96 and a 200 day moving average of $40.93. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.28.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The construction company reported $1.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.07 by $0.11. Tri Pointe Homes had a net margin of 10.41% and a return on equity of 14.83%. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the previous year, the company earned $0.76 EPS. The company's revenue for the quarter was up 34.9% on a year-over-year basis. As a group, analysts predict that Tri Pointe Homes, Inc. will post 4.68 EPS for the current year.

Insider Transactions at Tri Pointe Homes

In other Tri Pointe Homes news, General Counsel David Ch Lee sold 5,000 shares of the business's stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $44.28, for a total value of $221,400.00. Following the transaction, the general counsel now directly owns 85,792 shares of the company's stock, valued at approximately $3,798,869.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.50% of the company's stock.

Hedge Funds Weigh In On Tri Pointe Homes

Institutional investors and hedge funds have recently made changes to their positions in the stock. PNC Financial Services Group Inc. raised its stake in Tri Pointe Homes by 94.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,407 shares of the construction company's stock worth $262,000 after buying an additional 3,588 shares during the period. First Trust Direct Indexing L.P. acquired a new stake in Tri Pointe Homes in the 1st quarter valued at $200,000. BNP Paribas Financial Markets increased its stake in Tri Pointe Homes by 132.8% during the 1st quarter. BNP Paribas Financial Markets now owns 122,337 shares of the construction company's stock valued at $4,730,000 after purchasing an additional 69,789 shares in the last quarter. Capstone Investment Advisors LLC raised its holdings in shares of Tri Pointe Homes by 10.9% in the 1st quarter. Capstone Investment Advisors LLC now owns 15,786 shares of the construction company's stock worth $610,000 after acquiring an additional 1,548 shares during the last quarter. Finally, Moloney Securities Asset Management LLC purchased a new stake in shares of Tri Pointe Homes in the first quarter worth approximately $1,014,000. 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.