Tri Pointe Homes’ (TPH) “Neutral” Rating Reiterated at Wedbush

Wedbush restated their neutral rating on shares of Tri Pointe Homes (NYSE:TPH) in a report issued on Tuesday,RTT News reports. The firm currently has a $38.00 price target on the construction company’s stock, down from their previous price target of $44.00.

Several other research firms have also commented on TPH. Oppenheimer cut their price objective on Tri Pointe Homes from $56.00 to $53.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. StockNews.com cut Tri Pointe Homes from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Finally, Royal Bank of Canada decreased their price objective on Tri Pointe Homes from $48.00 to $45.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Tri Pointe Homes presently has an average rating of “Hold” and an average price target of $40.60.

Tri Pointe Homes Trading Up 1.3 %

Shares of TPH stock opened at $31.28 on Tuesday. Tri Pointe Homes has a 1-year low of $30.25 and a 1-year high of $47.78. The company has a market cap of $2.93 billion, a price-to-earnings ratio of 6.48, a PEG ratio of 0.52 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. The stock has a 50 day simple moving average of $36.50 and a 200-day simple moving average of $40.70.

Tri Pointe Homes (NYSE:TPH) last posted its quarterly earnings data on Tuesday, February 18th. The construction company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.07. The business had revenue of $1.22 billion for 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 14.56%. On average, equities research analysts expect that Tri Pointe Homes will post 4.8 EPS for the current fiscal year.

Tri Pointe Homes announced that its Board of Directors has initiated a stock buyback plan on Wednesday, December 18th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the construction company to repurchase up to 7.3% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In related news, COO Thomas J. Mitchell sold 77,384 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $39.15, for a total transaction of $3,029,583.60. Following the completion of the sale, the chief operating officer now directly owns 708,159 shares of the company’s stock, valued at approximately $27,724,424.85. This trade represents a 9.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Tri Pointe Homes

A number of institutional investors have recently made changes to their positions in TPH. Mackenzie Financial Corp boosted its position in Tri Pointe Homes by 129.1% in the 4th quarter. Mackenzie Financial Corp now owns 51,968 shares of the construction company’s stock valued at $1,884,000 after buying an additional 29,281 shares during the period. Castlekeep Investment Advisors LLC purchased a new position in Tri Pointe Homes during the 4th quarter worth $1,642,000. PharVision Advisers LLC acquired a new stake in shares of Tri Pointe Homes in the 4th quarter valued at 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% during 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 buying an additional 48,857 shares during the period. Finally, Voloridge Investment Management LLC boosted its position in Tri Pointe Homes by 44.9% during the fourth quarter. Voloridge Investment Management LLC now owns 495,976 shares of the construction company’s stock worth $17,984,000 after purchasing an additional 153,758 shares in the last quarter. 97.01% of the stock is currently owned by institutional investors and hedge funds.

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.