Tri Pointe Homes (NYSE:TPH) Reaches New 1-Year Low - What's Next?

Tri Pointe Homes, Inc. (NYSE:TPH - Get Free Report)'s stock price reached a new 52-week low during trading on Wednesday . The stock traded as low as $28.65 and last traded at $28.96, with a volume of 1348242 shares traded. The stock had previously closed at $30.21.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on TPH shares. Seaport Res Ptn upgraded Tri Pointe Homes from a "hold" rating to a "strong-buy" rating in a research note on Thursday, March 6th. Royal Bank of Canada lowered Tri Pointe Homes from an "outperform" rating to a "sector perform" rating and reduced their price target for the company from $41.00 to $37.00 in a research report on Wednesday, February 19th. Oppenheimer lowered their price objective on Tri Pointe Homes from $53.00 to $43.00 and set an "outperform" rating for the company in a research report on Wednesday, February 19th. Evercore ISI reduced their target price on shares of Tri Pointe Homes from $54.00 to $42.00 and set an "outperform" rating on the stock in a report on Wednesday, February 19th. Finally, StockNews.com cut shares of Tri Pointe Homes from a "buy" rating to a "hold" rating in a report on Tuesday, December 17th. Four 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. According to MarketBeat.com, Tri Pointe Homes currently has a consensus rating of "Moderate Buy" and an average target price of $40.60.

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Tri Pointe Homes Stock Up 0.5 %

The firm has a 50-day moving average price of $32.24 and a two-hundred day moving average price of $37.52. The firm has a market cap of $2.70 billion, a price-to-earnings ratio of 6.08, a price-to-earnings-growth ratio of 0.67 and a beta of 1.44. 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 (NYSE:TPH - Get Free Report) last released its quarterly earnings data 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. Tri Pointe Homes had a net margin of 10.36% and a return on equity of 14.34%. The company had revenue of $1.22 billion for the quarter, compared to analysts' expectations of $1.22 billion. On average, sell-side analysts forecast that Tri Pointe Homes, Inc. will post 3.58 earnings per share for the current year.

Tri Pointe Homes declared that its board has initiated a stock repurchase plan on Wednesday, December 18th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the construction company to reacquire up to 7.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Institutional Trading of Tri Pointe Homes

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. HighTower Advisors LLC purchased a new position in Tri Pointe Homes during the 4th quarter worth approximately $5,553,000. Geode Capital Management LLC grew its position in shares of Tri Pointe Homes by 3.2% during the third quarter. Geode Capital Management LLC now owns 2,485,663 shares of the construction company's stock worth $112,644,000 after acquiring an additional 76,830 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Tri Pointe Homes by 3.5% in the 4th quarter. Principal Financial Group Inc. now owns 486,100 shares of the construction company's stock valued at $17,626,000 after acquiring an additional 16,380 shares during the period. William Blair Investment Management LLC raised its position in Tri Pointe Homes by 2.5% in the 4th quarter. William Blair Investment Management LLC now owns 1,138,547 shares of the construction company's stock valued at $41,284,000 after purchasing an additional 27,691 shares during the last quarter. Finally, GW&K Investment Management LLC boosted its stake in Tri Pointe Homes by 5.3% during the 4th quarter. GW&K Investment Management LLC now owns 2,036,689 shares of the construction company's stock worth $73,850,000 after purchasing an additional 102,187 shares during the period. Institutional investors and hedge funds own 97.01% of the company's stock.

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.