Seaport Res Ptn Upgrades Tri Pointe Homes (NYSE:TPH) to Strong-Buy

Tri Pointe Homes (NYSE:TPH - Get Free Report) was upgraded by Seaport Res Ptn from a "hold" rating to a "strong-buy" rating in a research note issued on Thursday,Zacks.com reports.

A number of other research firms have also recently commented on TPH. Wedbush reissued a "neutral" rating and issued a $38.00 target price (down previously from $44.00) on shares of Tri Pointe Homes in a research note on Tuesday, February 18th. StockNews.com cut Tri Pointe Homes from a "buy" rating to a "hold" rating in a research note on Tuesday, December 17th. Royal Bank of Canada cut Tri Pointe Homes from an "outperform" rating to a "sector perform" rating and reduced their price objective for the company from $41.00 to $37.00 in a research note on Wednesday, February 19th. Oppenheimer reduced their price objective on Tri Pointe Homes from $53.00 to $43.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 19th. Finally, Evercore ISI reduced their price objective 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. Four equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $40.60.

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Tri Pointe Homes Price Performance

TPH traded down $0.10 during trading on Thursday, reaching $32.75. The stock had a trading volume of 1,086,879 shares, compared to its average volume of 898,474. The stock has a market cap of $3.01 billion, a PE ratio of 6.78, a PEG ratio of 0.67 and a beta of 1.71. 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 one year low of $30.25 and a one year high of $47.78. The business has a 50-day moving average of $35.08 and a 200-day moving average of $39.93.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last released its earnings results on Tuesday, February 18th. The construction company reported $1.37 EPS for the quarter, beating analysts' consensus estimates of $1.30 by $0.07. The business had revenue of $1.22 billion for the quarter, compared to analysts' expectations of $1.22 billion. Tri Pointe Homes had a return on equity of 14.34% and a net margin of 10.36%. As a group, equities research analysts anticipate that Tri Pointe Homes will post 3.58 EPS for the current fiscal year.

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

Insider Buying and Selling

In related news, COO Thomas J. Mitchell sold 77,384 shares of the firm's stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $39.15, for a total value of $3,029,583.60. Following the sale, the chief operating officer now directly owns 708,159 shares of the company's stock, valued at $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 is available through this link. 2.00% of the stock is owned by insiders.

Institutional Trading of Tri Pointe Homes

Several large investors have recently modified their holdings of TPH. Pacer Advisors Inc. bought a new stake in shares of Tri Pointe Homes in the fourth quarter worth about $118,407,000. Castlekeep Investment Advisors LLC purchased a new stake in Tri Pointe Homes in the fourth quarter worth about $60,261,000. Norges Bank purchased a new stake in Tri Pointe Homes in the fourth quarter worth about $14,815,000. Raymond James Financial Inc. purchased a new stake in Tri Pointe Homes in the fourth quarter worth about $13,342,000. Finally, Weiss Asset Management LP purchased a new stake in Tri Pointe Homes in the third quarter worth about $16,066,000. 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.