Evercore ISI Lowers Tri Pointe Homes (NYSE:TPH) Price Target to $42.00

Tri Pointe Homes (NYSE:TPH - Get Free Report) had its price target lowered by equities researchers at Evercore ISI from $54.00 to $42.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an "outperform" rating on the construction company's stock. Evercore ISI's price target would indicate a potential upside of 36.43% from the stock's previous close.

A number of other research analysts have also weighed in on TPH. Oppenheimer cut their target price on shares of Tri Pointe Homes from $56.00 to $53.00 and set an "outperform" rating for the company in a report on Friday, October 25th. Wedbush reaffirmed a "neutral" rating and set a $38.00 price objective (down from $44.00) on shares of Tri Pointe Homes in a research note on Tuesday. StockNews.com lowered shares of Tri Pointe Homes from a "buy" rating to a "hold" rating in a research note on Tuesday, December 17th. Finally, Royal Bank of Canada lowered shares of Tri Pointe Homes from an "outperform" rating to a "sector perform" rating and dropped their price objective for the stock from $41.00 to $37.00 in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $40.60.

Tri Pointe Homes Price Performance

TPH traded down $0.49 during trading on Wednesday, reaching $30.79. 1,299,944 shares of the company traded hands, compared to its average volume of 756,523. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.64 and a current ratio of 2.24. Tri Pointe Homes has a 12-month low of $30.25 and a 12-month high of $47.78. The firm has a fifty day simple moving average of $36.16 and a 200 day simple moving average of $40.56. The company 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 (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, beating analysts' consensus estimates of $1.30 by $0.07. Tri Pointe Homes had a net margin of 10.36% and a return on equity of 14.34%. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.22 billion. On average, equities analysts forecast that Tri Pointe Homes will post 3.58 EPS for the current year.

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

Insider Transactions at Tri Pointe Homes

In other news, COO Thomas J. Mitchell sold 77,384 shares of Tri Pointe Homes stock in a transaction on 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 sale, the chief operating officer now directly owns 708,159 shares in the company, valued at approximately $27,724,424.85. This trade represents a 9.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.00% of the company's stock.

Institutional Trading of Tri Pointe Homes

Several institutional investors and hedge funds have recently made changes to their positions in TPH. Covestor Ltd raised its holdings in shares of Tri Pointe Homes by 58.5% in the fourth quarter. Covestor Ltd now owns 908 shares of the construction company's stock valued at $33,000 after acquiring an additional 335 shares in the last quarter. Reston Wealth Management LLC bought a new stake in shares of Tri Pointe Homes in the third quarter valued at about $45,000. Smartleaf Asset Management LLC raised its holdings in shares of Tri Pointe Homes by 84.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,339 shares of the construction company's stock valued at $49,000 after acquiring an additional 613 shares in the last quarter. Assetmark Inc. raised its holdings in shares of Tri Pointe Homes by 19.6% in the fourth quarter. Assetmark Inc. now owns 1,827 shares of the construction company's stock valued at $66,000 after acquiring an additional 300 shares in the last quarter. Finally, Sterling Capital Management LLC raised its holdings in shares of Tri Pointe Homes by 729.5% in the fourth quarter. Sterling Capital Management LLC now owns 2,082 shares of the construction company's stock valued at $75,000 after acquiring an additional 1,831 shares in the last quarter. 97.01% of the stock is currently 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.