Tri Pointe Homes (NYSE:TPH) Sets New 52-Week Low - Here's Why

Tri Pointe Homes, Inc. (NYSE:TPH - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $27.50 and last traded at $29.50, with a volume of 452 shares traded. The stock had previously closed at $29.30.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Oppenheimer reduced their target price 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. Evercore ISI reduced their price objective on Tri Pointe Homes from $54.00 to $42.00 and set an "outperform" rating for the company in a research report on Wednesday, February 19th. Royal Bank of Canada lowered Tri Pointe Homes from an "outperform" rating to a "sector perform" rating and decreased their price objective for the stock from $41.00 to $37.00 in a report on Wednesday, February 19th. Wedbush restated a "neutral" rating and issued a $38.00 target price (down from $44.00) on shares of Tri Pointe Homes in a research note on Tuesday, February 18th. Finally, Seaport Res Ptn raised Tri Pointe Homes from a "hold" rating to a "strong-buy" rating in a research report on Thursday, March 6th. Four analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Tri Pointe Homes currently has a consensus rating of "Moderate Buy" and a consensus target price of $40.60.

Tri Pointe Homes Stock Up 1.5 %

The stock has a market capitalization of $2.71 billion, a P/E ratio of 6.11, a PEG ratio of 0.67 and a beta of 1.44. The business has a 50-day simple moving average of $31.58 and a two-hundred day simple moving average of $37.07. 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 (EPS) for the quarter, beating analysts' consensus estimates of $1.30 by $0.07. The company had revenue of $1.22 billion during the quarter, compared to analysts' expectations of $1.22 billion. Tri Pointe Homes had a net margin of 10.36% and a return on equity of 14.34%. Equities research analysts forecast that Tri Pointe Homes, Inc. will post 3.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tri Pointe Homes

Institutional investors have recently modified their holdings of the stock. Covestor Ltd lifted its holdings in Tri Pointe Homes by 58.5% during the 4th quarter. Covestor Ltd now owns 908 shares of the construction company's stock worth $33,000 after buying an additional 335 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in 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 during the last quarter. Assetmark Inc. increased its position in Tri Pointe Homes by 19.6% in the fourth quarter. Assetmark Inc. now owns 1,827 shares of the construction company's stock worth $66,000 after purchasing an additional 300 shares during the period. Sterling Capital Management LLC raised its holdings in Tri Pointe Homes by 729.5% during the 4th quarter. Sterling Capital Management LLC now owns 2,082 shares of the construction company's stock worth $75,000 after purchasing an additional 1,831 shares during the last quarter. Finally, Venturi Wealth Management LLC lifted its position in Tri Pointe Homes by 562.1% during the 4th quarter. Venturi Wealth Management LLC now owns 2,238 shares of the construction company's stock valued at $81,000 after purchasing an additional 1,900 shares during the period. 97.01% of the stock is owned by institutional investors.

Tri Pointe Homes Company Profile

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.