Tri Pointe Homes (NYSE:TPH) Shares Gap Down Following Analyst Downgrade

Tri Pointe Homes, Inc. (NYSE:TPH - Get Free Report)'s share price gapped down before the market opened on Wednesday after Oppenheimer lowered their price target on the stock from $53.00 to $43.00. The stock had previously closed at $32.28, but opened at $31.00. Oppenheimer currently has an outperform rating on the stock. Tri Pointe Homes shares last traded at $31.63, with a volume of 108,549 shares changing hands.

TPH has been the subject of a number of other reports. StockNews.com lowered shares of Tri Pointe Homes from a "buy" rating to a "hold" rating in a research note on Tuesday, December 17th. Royal Bank of Canada downgraded shares of Tri Pointe Homes from an "outperform" rating to a "sector perform" rating and dropped their target price for the stock from $41.00 to $37.00 in a report on Wednesday. Evercore ISI dropped 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. Finally, Wedbush reiterated a "neutral" rating and issued a $38.00 target price (down from $44.00) on shares of Tri Pointe Homes in a report on Tuesday. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $40.60.

Insider Buying and Selling at Tri Pointe Homes

In other Tri Pointe Homes news, COO Thomas J. Mitchell sold 77,384 shares of the company's stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $39.15, for a total value of $3,029,583.60. Following the transaction, the chief operating officer now owns 708,159 shares in the company, valued at approximately $27,724,424.85. This represents a 9.85 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.00% of the company's stock.

Institutional Trading of Tri Pointe Homes

Several large investors have recently added to or reduced their stakes in the business. Mackenzie Financial Corp grew its position in Tri Pointe Homes by 129.1% in the fourth quarter. Mackenzie Financial Corp now owns 51,968 shares of the construction company's stock worth $1,884,000 after acquiring an additional 29,281 shares in the last quarter. Castlekeep Investment Advisors LLC bought a new stake in Tri Pointe Homes in the fourth quarter worth approximately $1,642,000. PharVision Advisers LLC bought a new stake in Tri Pointe Homes in the fourth quarter worth approximately $242,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position 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 worth $10,317,000 after acquiring an additional 48,857 shares in the last quarter. Finally, Voloridge Investment Management LLC boosted its holdings in shares of Tri Pointe Homes by 44.9% during the 4th quarter. Voloridge Investment Management LLC now owns 495,976 shares of the construction company's stock worth $17,984,000 after buying an additional 153,758 shares during the period. 97.01% of the stock is owned by institutional investors.

Tri Pointe Homes Trading Down 1.6 %

The company has a current ratio of 2.24, a quick ratio of 1.64 and a debt-to-equity ratio of 0.28. The company's fifty day moving average is $36.16 and its 200-day moving average is $40.56. The firm has a market capitalization of $2.88 billion, a P/E ratio of 6.37, a P/E/G ratio of 0.67 and a beta of 1.64.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The construction company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.07. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate 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, sell-side analysts anticipate that Tri Pointe Homes, Inc. will post 3.58 earnings per share for the current fiscal year.

Tri Pointe Homes declared that its board has approved a stock buyback plan 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 stock through open market purchases. Stock buyback plans are generally an indication that the company's board of directors believes its shares are undervalued.

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.