Tri Pointe Homes (NYSE:TPH) Receives Neutral Rating from Wedbush

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

TPH has been the subject of a number of other research reports. StockNews.com lowered Tri Pointe Homes from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Royal Bank of Canada reduced their price objective on Tri Pointe Homes from $48.00 to $45.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Finally, Oppenheimer reduced their price objective on Tri Pointe Homes from $56.00 to $53.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Tri Pointe Homes has an average rating of “Moderate Buy” and an average price target of $44.75.

Tri Pointe Homes Trading Down 10.9 %

TPH opened at $32.29 on Tuesday. The stock has a market cap of $3.02 billion, a PE ratio of 6.70, a PEG ratio of 0.59 and a beta of 1.64. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.28. The business has a 50 day moving average of $36.87 and a 200-day moving average of $40.84. Tri Pointe Homes has a 52 week low of $32.17 and a 52 week high of $47.78.

Tri Pointe Homes (NYSE:TPH) last posted its quarterly earnings data on Tuesday, February 18th. The construction company reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.07. Tri Pointe Homes had a return on equity of 14.83% and a net margin of 10.41%. Equities research analysts predict that Tri Pointe Homes will post 4.72 earnings per share for the current fiscal year.

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

Insider Buying and Selling

In related news, COO Thomas J. Mitchell sold 77,384 shares of Tri Pointe Homes stock in a transaction on Monday, December 16th. The stock was sold at an average price of $39.15, for a total value 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 $27,724,424.85. The trade was a 9.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tri Pointe Homes

Several institutional investors and hedge funds have recently bought and sold shares of the stock. GSA Capital Partners LLP lifted its position in Tri Pointe Homes by 4.4% during 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 in the last quarter. Empowered Funds LLC lifted its position in Tri Pointe Homes by 0.3% during the third quarter. Empowered Funds LLC now owns 99,346 shares of the construction company’s stock valued at $4,501,000 after purchasing an additional 265 shares in the last quarter. CIBC Private Wealth Group LLC lifted its position in Tri Pointe Homes by 8.8% during the fourth quarter. CIBC Private Wealth Group LLC now owns 3,563 shares of the construction company’s stock valued at $126,000 after purchasing an additional 287 shares in the last quarter. Assetmark Inc. lifted its position in Tri Pointe Homes by 19.6% during the fourth quarter. Assetmark Inc. now owns 1,827 shares of the construction company’s stock valued at $66,000 after purchasing an additional 300 shares in the last quarter. Finally, Covestor Ltd lifted its position in Tri Pointe Homes by 58.5% during the fourth quarter. Covestor Ltd now owns 908 shares of the construction company’s stock valued at $33,000 after purchasing an additional 335 shares in the last quarter. 97.01% of the stock is currently owned by hedge funds and other 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.