Tri Pointe Homes (NYSE:TPH) Rating Reiterated by Wedbush

Wedbush reaffirmed their neutral rating on shares of Tri Pointe Homes (NYSE:TPH) in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a $42.00 target price on the construction company’s stock.

TPH has been the topic of a number of other research reports. Zelman & Associates upgraded Tri Pointe Homes from an “underperform” rating to a “neutral” rating and set a $43.00 target price on the stock in a report on Tuesday, September 17th. Royal Bank of Canada boosted their target price on Tri Pointe Homes from $42.00 to $48.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Oppenheimer increased their target price on shares of Tri Pointe Homes from $54.00 to $56.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Finally, Evercore ISI raised shares of Tri Pointe Homes to a “strong-buy” rating in a research report on Friday, July 26th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $47.25.

Tri Pointe Homes Stock Down 0.1 %

TPH opened at $40.69 on Thursday. Tri Pointe Homes has a 12 month low of $24.18 and a 12 month high of $47.78. The business has a 50-day moving average of $44.01 and a two-hundred day moving average of $40.81. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. The stock has a market capitalization of $3.81 billion, a price-to-earnings ratio of 9.26, a price-to-earnings-growth ratio of 0.70 and a beta of 1.59.

Tri Pointe Homes (NYSE:TPH) last issued its quarterly earnings results on Thursday, October 24th. The construction company reported $1.18 EPS for the quarter, topping the consensus estimate of $1.02 by $0.16. The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.05 billion. Tri Pointe Homes had a net margin of 10.28% and a return on equity of 14.03%. Tri Pointe Homes’s revenue for the quarter was up 34.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.76 earnings per share. On average, research analysts expect that Tri Pointe Homes will post 4.68 earnings per share for the current year.

Insider Activity at Tri Pointe Homes

In related news, General Counsel David Ch Lee sold 5,000 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $44.28, for a total value of $221,400.00. Following the completion of the sale, the general counsel now directly owns 85,792 shares in the company, valued at approximately $3,798,869.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Glenn J. Keeler sold 24,200 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $46.16, for a total transaction of $1,117,072.00. Following the completion of the sale, the chief financial officer now directly owns 149,108 shares in the company, valued at $6,882,825.28. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel David Ch Lee sold 5,000 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $44.28, for a total value of $221,400.00. Following the sale, the general counsel now owns 85,792 shares of the company’s stock, valued at $3,798,869.76. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

Institutional Trading of Tri Pointe Homes

Several large investors have recently modified their holdings of the business. Assenagon Asset Management S.A. grew its stake in shares of Tri Pointe Homes by 260.8% during the third quarter. Assenagon Asset Management S.A. now owns 1,417,263 shares of the construction company’s stock valued at $64,216,000 after acquiring an additional 1,024,425 shares in the last quarter. Millennium Management LLC grew its stake in shares of Tri Pointe Homes by 14.1% during the second quarter. Millennium Management LLC now owns 925,498 shares of the construction company’s stock valued at $34,475,000 after acquiring an additional 114,244 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Tri Pointe Homes by 3.5% during the second quarter. Bank of New York Mellon Corp now owns 916,372 shares of the construction company’s stock valued at $34,135,000 after acquiring an additional 31,041 shares in the last quarter. Cubist Systematic Strategies LLC grew its stake in Tri Pointe Homes by 149.5% in the second quarter. Cubist Systematic Strategies LLC now owns 534,406 shares of the construction company’s stock worth $19,907,000 after purchasing an additional 320,221 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in Tri Pointe Homes by 0.4% in the first quarter. Principal Financial Group Inc. now owns 530,036 shares of the construction company’s stock worth $20,491,000 after purchasing an additional 2,211 shares in the last quarter. 97.01% of the stock is currently owned by institutional investors and hedge funds.

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.