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

Tri Pointe Homes, Inc. (NYSE:TPH) has received a consensus rating of “Moderate Buy” from the five research firms that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $44.75.

Several brokerages have recently weighed in on TPH. Oppenheimer dropped their price target on shares of Tri Pointe Homes from $56.00 to $53.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Wedbush reiterated a “neutral” rating and set a $38.00 price target (down previously from $44.00) on shares of Tri Pointe Homes in a research note on Tuesday. Royal Bank of Canada dropped their price target on shares of Tri Pointe Homes from $48.00 to $45.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Finally, StockNews.com cut shares of Tri Pointe Homes from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th.

Tri Pointe Homes Trading Down 10.9 %

Shares of TPH stock opened at $32.29 on Wednesday. Tri Pointe Homes has a 12-month low of $32.17 and a 12-month high of $47.78. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.28. The firm’s 50 day moving average is $36.87 and its 200 day moving average is $40.84. The stock has a market capitalization of $3.02 billion, a P/E ratio of 6.70, a P/E/G ratio of 0.59 and a beta of 1.64.

Tri Pointe Homes (NYSE:TPH) last issued its earnings results on Tuesday, February 18th. The construction company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.07. Tri Pointe Homes had a net margin of 10.41% and a return on equity of 14.83%. Research analysts expect that Tri Pointe Homes will post 4.72 earnings per share for the current year.

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

Insider Activity

In other news, COO Thomas J. Mitchell sold 77,384 shares of the firm’s 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 sale, the chief operating officer now directly owns 708,159 shares in the company, valued at $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 is available at this hyperlink. Insiders own 2.00% of the company’s stock.

Institutional Trading of Tri Pointe Homes

A number of institutional investors and hedge funds have recently bought and sold shares of TPH. Pacer Advisors Inc. bought a new stake in Tri Pointe Homes in the 4th quarter valued at $118,407,000. Castlekeep Investment Advisors LLC bought a new stake in Tri Pointe Homes in the 4th quarter valued at $60,261,000. Assenagon Asset Management S.A. increased its holdings in Tri Pointe Homes by 260.8% in the 3rd 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 during the last quarter. Norges Bank bought a new stake in Tri Pointe Homes in the 4th quarter valued at $14,815,000. Finally, Raymond James Financial Inc. bought a new stake in Tri Pointe Homes in the 4th quarter valued at $13,342,000. 97.01% of the stock is currently owned by institutional investors.

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.