Brokerages Set Tri Pointe Homes, Inc. (NYSE:TPH) Price Target at $44.75

Shares of Tri Pointe Homes, Inc. (NYSE:TPH) have received an average rating of “Hold” from the five brokerages that are currently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $40.60.

TPH has been the topic of several research analyst reports. Oppenheimer decreased their target price on Tri Pointe Homes from $53.00 to $43.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. Evercore ISI decreased 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 report on Wednesday, February 19th. 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 research note on Wednesday, February 19th. StockNews.com cut shares of Tri Pointe Homes from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Finally, Wedbush reissued a “neutral” rating and issued a $38.00 price target (down previously from $44.00) on shares of Tri Pointe Homes in a report on Tuesday, February 18th.

Tri Pointe Homes Price Performance

NYSE:TPH opened at $30.79 on Wednesday. The company has a quick ratio of 1.64, a current ratio of 2.24 and a debt-to-equity ratio of 0.28. The firm has a market cap of $2.88 billion, a PE ratio of 6.37, a price-to-earnings-growth ratio of 0.67 and a beta of 1.64. Tri Pointe Homes has a 12 month low of $30.25 and a 12 month high of $47.78. The company’s 50-day moving average price is $36.16 and its two-hundred day moving average price is $40.55.

Tri Pointe Homes (NYSE:TPH) last announced its earnings results on Tuesday, February 18th. The construction company reported $1.37 EPS for the quarter, topping 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 return on equity of 14.34% and a net margin of 10.36%. On average, equities analysts anticipate that Tri Pointe Homes will post 3.58 EPS for the current fiscal year.

Tri Pointe Homes announced that its Board of Directors has approved a stock repurchase program on Wednesday, December 18th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the construction company to buy up to 7.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other Tri Pointe Homes news, COO Thomas J. Mitchell sold 77,384 shares of Tri Pointe Homes stock in a transaction on Monday, December 16th. The shares were 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 owns 708,159 shares of the company’s stock, valued at approximately $27,724,424.85. The trade was a 9.85 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in TPH. GSA Capital Partners LLP increased its holdings in Tri Pointe Homes by 4.4% in the third quarter. GSA Capital Partners LLP now owns 6,189 shares of the construction company’s stock valued at $280,000 after purchasing an additional 258 shares during the last quarter. Empowered Funds LLC grew its position in shares of Tri Pointe Homes by 0.3% during the 3rd quarter. Empowered Funds LLC now owns 99,346 shares of the construction company’s stock worth $4,501,000 after buying an additional 265 shares during the period. CIBC Private Wealth Group LLC increased its stake in shares of Tri Pointe Homes by 8.8% in the 4th quarter. CIBC Private Wealth Group LLC now owns 3,563 shares of the construction company’s stock valued at $126,000 after acquiring an additional 287 shares during the last quarter. Assetmark Inc. raised its position in shares of Tri Pointe Homes by 19.6% in the 4th quarter. Assetmark Inc. now owns 1,827 shares of the construction company’s stock valued at $66,000 after acquiring an additional 300 shares during the period. Finally, Covestor Ltd boosted its stake in Tri Pointe Homes by 58.5% during the 4th quarter. Covestor Ltd now owns 908 shares of the construction company’s stock worth $33,000 after acquiring an additional 335 shares during the last quarter. Institutional investors and hedge funds 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.