Tri Pointe Homes (NYSE:TPH) Downgraded to Sector Perform Rating by Royal Bank of Canada

Tri Pointe Homes (NYSE:TPH - Get Free Report) was downgraded by equities researchers at Royal Bank of Canada from an "outperform" rating to a "sector perform" rating in a research report issued on Wednesday, MarketBeat.com reports. They presently have a $37.00 price objective on the construction company's stock, down from their previous price objective of $41.00. Royal Bank of Canada's target price suggests a potential upside of 20.19% from the stock's current price.

Other analysts have also issued reports about the stock. Oppenheimer reduced 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 report on Friday, October 25th. Wedbush reaffirmed a "neutral" rating and issued a $38.00 target price (down from $44.00) on shares of Tri Pointe Homes in a research report on Tuesday. Finally, StockNews.com downgraded Tri Pointe Homes from a "buy" rating to a "hold" rating in a research report on Tuesday, December 17th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Tri Pointe Homes presently has an average rating of "Hold" and an average target price of $40.60.

Tri Pointe Homes Trading Down 1.6 %

TPH traded down $0.49 on Wednesday, hitting $30.79. The company had a trading volume of 1,299,944 shares, compared to its average volume of 756,523. The firm has a market cap of $2.88 billion, a P/E ratio of 6.37, a PEG ratio of 0.67 and a beta of 1.64. Tri Pointe Homes has a 1 year low of $30.25 and a 1 year high of $47.78. The company's fifty day moving average price is $36.16 and its 200 day moving average price is $40.56. The company has a current ratio of 2.24, a quick 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 data on Tuesday, February 18th. The construction company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.07. The firm 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 year.

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

Insider Transactions at Tri Pointe Homes

In other news, COO Thomas J. Mitchell sold 77,384 shares of the business's stock in a transaction dated 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 completion of the transaction, the chief operating officer now directly owns 708,159 shares of the company's stock, valued at approximately $27,724,424.85. The trade was a 9.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.00% of the company's stock.

Hedge Funds Weigh In On Tri Pointe Homes

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Mackenzie Financial Corp grew its position in shares of Tri Pointe Homes by 129.1% during the fourth quarter. Mackenzie Financial Corp now owns 51,968 shares of the construction company's stock worth $1,884,000 after buying an additional 29,281 shares in the last quarter. Castlekeep Investment Advisors LLC acquired a new position in Tri Pointe Homes in the fourth quarter valued at approximately $1,642,000. PharVision Advisers LLC acquired a new position in Tri Pointe Homes in the fourth quarter valued at approximately $242,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Tri Pointe Homes by 20.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 284,527 shares of the construction company's stock valued at $10,317,000 after purchasing an additional 48,857 shares in the last quarter. Finally, Voloridge Investment Management LLC boosted its holdings in Tri Pointe Homes by 44.9% in the fourth quarter. Voloridge Investment Management LLC now owns 495,976 shares of the construction company's stock valued at $17,984,000 after purchasing an additional 153,758 shares in the last quarter. 97.01% of the stock is owned by institutional investors and hedge funds.

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.