Wedbush Reaffirms "Neutral" Rating for Tri Pointe Homes (NYSE:TPH)

Tri Pointe Homes (NYSE:TPH - Get Free Report)'s stock had its "neutral" rating reaffirmed by Wedbush in a note issued to investors on Thursday, Benzinga reports. They presently have a $42.00 target price on the construction company's stock. Wedbush's price target indicates a potential upside of 3.12% from the stock's previous close.

TPH has been the topic of a number of other reports. Evercore ISI raised Tri Pointe Homes to a "strong-buy" rating in a research report on Friday, July 26th. Royal Bank of Canada boosted their price objective on Tri Pointe Homes from $42.00 to $48.00 and gave the company an "outperform" rating in a research report on Friday, July 26th. Zelman & Associates upgraded Tri Pointe Homes from an "underperform" rating to a "neutral" rating and set a $43.00 target price for the company in a research note on Tuesday, September 17th. Finally, Oppenheimer lifted their price target on shares of Tri Pointe Homes from $54.00 to $56.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 2nd. 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's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $47.25.

Tri Pointe Homes Stock Performance

TPH traded down $1.78 during midday trading on Thursday, reaching $40.73. The company's stock had a trading volume of 1,329,836 shares, compared to its average volume of 903,815. Tri Pointe Homes has a twelve month low of $24.18 and a twelve month high of $47.78. The stock has a market cap of $3.81 billion, a P/E ratio of 9.26, a PEG ratio of 0.70 and a beta of 1.59. The company has a fifty day simple moving average of $44.01 and a 200 day simple moving average of $40.81. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The construction company reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.16. The business had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.05 billion. Tri Pointe Homes had a net margin of 10.28% and a return on equity of 14.03%. Tri Pointe Homes's quarterly revenue was up 34.9% on a year-over-year basis. During the same quarter last year, the company posted $0.76 earnings per share. Research analysts expect that Tri Pointe Homes will post 4.68 earnings per share for the current year.

Insider Buying and Selling at Tri Pointe Homes

In other Tri Pointe Homes news, General Counsel David Ch Lee sold 5,000 shares of Tri Pointe Homes stock in a transaction on Friday, September 13th. The stock was sold at an average price of $44.28, for a total transaction of $221,400.00. Following the completion of the transaction, the general counsel now directly owns 85,792 shares of the company's stock, valued at approximately $3,798,869.76. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Glenn J. Keeler sold 24,200 shares of Tri Pointe Homes stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $46.16, for a total value of $1,117,072.00. Following the completion of the transaction, the chief financial officer now directly owns 149,108 shares of the company's stock, valued at $6,882,825.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel David Ch Lee sold 5,000 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $44.28, for a total transaction of $221,400.00. Following the sale, the general counsel now directly owns 85,792 shares in the company, valued at approximately $3,798,869.76. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.00% of the company's stock.

Hedge Funds Weigh In On Tri Pointe Homes

Institutional investors have recently modified their holdings of the stock. Assenagon Asset Management S.A. raised its position in Tri Pointe Homes by 260.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,417,263 shares of the construction company's stock worth $64,216,000 after purchasing an additional 1,024,425 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Tri Pointe Homes by 1,417.8% in the 2nd quarter. Renaissance Technologies LLC now owns 443,736 shares of the construction company's stock valued at $16,529,000 after buying an additional 414,500 shares during the period. Cubist Systematic Strategies LLC raised its position 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 last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Tri Pointe Homes in the second quarter valued at about $9,599,000. Finally, Jane Street Group LLC boosted its holdings in 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 acquiring an additional 185,395 shares during the last quarter. 97.01% of the stock is owned by institutional investors.

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.