Analysts Set Tri Pointe Homes, Inc. (NYSE:TPH) PT at $40.60

Shares of Tri Pointe Homes, Inc. (NYSE:TPH - Get Free Report) have earned a consensus rating of "Moderate Buy" from the six brokerages that are presently covering the company, MarketBeat Ratings reports. Three equities research 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 company. The average twelve-month price target among brokers that have covered the stock in the last year is $40.60.

Several equities research analysts recently issued reports on the company. Seaport Res Ptn upgraded Tri Pointe Homes from a "hold" rating to a "strong-buy" rating in a report on Thursday, March 6th. StockNews.com downgraded shares of Tri Pointe Homes from a "buy" rating to a "hold" rating in a report on Tuesday, December 17th. Royal Bank of Canada lowered shares of Tri Pointe Homes from an "outperform" rating to a "sector perform" rating and dropped their price target for the company from $41.00 to $37.00 in a research report on Wednesday, February 19th. Oppenheimer decreased their price objective on shares of Tri Pointe Homes from $53.00 to $43.00 and set an "outperform" rating for the company in a research note on Wednesday, February 19th. Finally, Evercore ISI cut their target price on Tri Pointe Homes from $54.00 to $42.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 19th.

Remove Ads

Tri Pointe Homes Stock Down 0.7 %

TPH traded down $0.20 during trading on Thursday, hitting $29.32. 893,429 shares of the company's stock were exchanged, compared to its average volume of 873,029. Tri Pointe Homes has a fifty-two week low of $27.90 and a fifty-two week high of $47.78. The stock has a market cap of $2.69 billion, a P/E ratio of 6.07, a PEG ratio of 0.67 and a beta of 1.44. The business's 50 day moving average is $31.96 and its two-hundred day moving average is $37.35. The company has a quick ratio of 1.64, a current ratio of 2.24 and a debt-to-equity ratio of 0.28.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last posted its earnings results on Tuesday, February 18th. The construction company reported $1.37 earnings per share for the quarter, topping analysts' consensus estimates of $1.30 by $0.07. The company had revenue of $1.22 billion for 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%. As a group, equities analysts expect that Tri Pointe Homes will post 3.58 earnings per share for the current fiscal year.

Tri Pointe Homes announced that its Board of Directors has approved a stock repurchase program on Wednesday, December 18th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the construction company to reacquire up to 7.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board believes its stock is undervalued.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Captrust Financial Advisors grew its holdings in Tri Pointe Homes by 27.6% during the third quarter. Captrust Financial Advisors now owns 6,931 shares of the construction company's stock valued at $314,000 after purchasing an additional 1,499 shares during the period. Janus Henderson Group PLC lifted its position in shares of Tri Pointe Homes by 2.0% during the 3rd quarter. Janus Henderson Group PLC now owns 39,376 shares of the construction company's stock valued at $1,785,000 after buying an additional 760 shares during the last quarter. Quantinno Capital Management LP grew its stake in shares of Tri Pointe Homes by 7.8% during the 3rd quarter. Quantinno Capital Management LP now owns 8,204 shares of the construction company's stock worth $372,000 after acquiring an additional 596 shares during the period. Quadrature Capital Ltd purchased a new stake in Tri Pointe Homes in the 3rd quarter worth about $258,000. Finally, Wolverine Trading LLC bought a new stake in Tri Pointe Homes in the 3rd quarter valued at about $308,000. 97.01% of the stock is currently owned by hedge funds and other 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.