Tri Pointe Homes, Inc. (NYSE:TPH) Given Consensus Rating of “Moderate Buy” by Analysts

Tri Pointe Homes, Inc. (NYSE:TPH) has earned a consensus recommendation of “Moderate Buy” from the five brokerages that are presently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $45.75.

Several research analysts have commented on TPH shares. Royal Bank of Canada dropped their price target on Tri Pointe Homes from $48.00 to $45.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Wedbush reaffirmed a “neutral” rating and issued a $42.00 price target on shares of Tri Pointe Homes in a research report on Thursday, October 24th. Oppenheimer dropped their price target on Tri Pointe Homes from $56.00 to $53.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Finally, StockNews.com downgraded Tri Pointe Homes from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th.

Tri Pointe Homes Stock Down 1.3 %

Shares of Tri Pointe Homes stock opened at $36.99 on Friday. The firm has a market cap of $3.46 billion, a price-to-earnings ratio of 7.67, a P/E/G ratio of 0.60 and a beta of 1.64. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.64 and a quick ratio of 1.64. Tri Pointe Homes has a 52-week low of $33.24 and a 52-week high of $47.78. The stock has a 50-day simple moving average of $38.70 and a 200-day simple moving average of $41.71.

Tri Pointe Homes declared that its board has approved a share repurchase 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 buy up to 7.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In related news, COO Thomas J. Mitchell sold 77,384 shares of the company’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 completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Tri Pointe Homes

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Reston Wealth Management LLC bought a new stake in shares of Tri Pointe Homes in the third quarter worth about $45,000. Nisa Investment Advisors LLC boosted its position in shares of Tri Pointe Homes by 51.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,324 shares of the construction company’s stock worth $84,000 after buying an additional 789 shares during the period. Quarry LP boosted its position in shares of Tri Pointe Homes by 123.3% during the second quarter. Quarry LP now owns 2,401 shares of the construction company’s stock worth $89,000 after buying an additional 1,326 shares during the period. Blue Trust Inc. boosted its position in shares of Tri Pointe Homes by 33.5% during the third quarter. Blue Trust Inc. now owns 2,368 shares of the construction company’s stock worth $107,000 after buying an additional 594 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of Tri Pointe Homes by 75.6% during the third quarter. GAMMA Investing LLC now owns 2,669 shares of the construction company’s stock worth $121,000 after buying an additional 1,149 shares during the period. Institutional investors own 97.01% of the company’s stock.

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.