Tri Pointe Homes (NYSE:TPH) Rating Increased to Strong-Buy at Seaport Res Ptn

Tri Pointe Homes (NYSE:TPH) was upgraded by equities researchers at Seaport Res Ptn from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

A number of other research firms have also recently weighed in on TPH. Oppenheimer cut their price objective on shares of Tri Pointe Homes from $53.00 to $43.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. Evercore ISI cut their price objective on shares of Tri Pointe Homes from $54.00 to $42.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. Royal Bank of Canada cut shares of Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $41.00 to $37.00 in a research report on Wednesday, February 19th. Wedbush reiterated a “neutral” rating and set a $38.00 price objective (down previously from $44.00) on shares of Tri Pointe Homes in a research report on Tuesday, February 18th. Finally, StockNews.com cut shares of Tri Pointe Homes from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Four equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $40.60.

Tri Pointe Homes Price Performance

Tri Pointe Homes stock opened at $32.85 on Thursday. The company has a market cap of $3.02 billion, a price-to-earnings ratio of 6.80, a PEG ratio of 0.67 and a beta of 1.64. The firm’s fifty day moving average is $35.15 and its 200 day moving average is $39.99. 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 has a 52-week low of $30.25 and a 52-week high of $47.78.

Tri Pointe Homes (NYSE:TPH) last released its quarterly 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 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 14.34%. Sell-side analysts forecast that Tri Pointe Homes will post 3.58 EPS for the current fiscal year.

Tri Pointe Homes declared that its board has approved a share buyback program on Wednesday, December 18th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the construction company to purchase up to 7.3% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Transactions at Tri Pointe Homes

In other news, COO Thomas J. Mitchell sold 77,384 shares of the company’s stock in a transaction dated 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 directly 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 is accessible through the SEC website. Company insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Tri Pointe Homes in the fourth quarter worth about $6,380,000. Mackenzie Financial Corp grew its holdings in Tri Pointe Homes by 129.1% during the 4th 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 position in Tri Pointe Homes during the 4th quarter worth about $1,642,000. PharVision Advisers LLC bought a new position in Tri Pointe Homes during the 4th quarter worth about $242,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Tri Pointe Homes by 20.7% during the 4th 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. 97.01% of the stock is currently 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.