Tri Pointe Homes (NYSE:TPH) Given New $42.00 Price Target at Evercore ISI

Tri Pointe Homes (NYSE:TPH) had its price target reduced by Evercore ISI from $54.00 to $42.00 in a research report released on Wednesday morning,Benzinga reports. Evercore ISI currently has an outperform rating on the construction company’s stock.

Other equities analysts have also issued reports about the company. Oppenheimer decreased their price objective on Tri Pointe Homes from $56.00 to $53.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Royal Bank of Canada downgraded Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from $41.00 to $37.00 in a report on Wednesday. Wedbush restated a “neutral” rating and set a $38.00 price target (down previously from $44.00) on shares of Tri Pointe Homes in a report on Tuesday. Finally, StockNews.com downgraded 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 and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Tri Pointe Homes has an average rating of “Hold” and an average price target of $40.60.

Tri Pointe Homes Stock Down 4.4 %

TPH stock opened at $30.88 on Wednesday. The company has a market capitalization of $2.89 billion, a P/E ratio of 6.41, a PEG ratio of 0.58 and a beta of 1.64. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.28. Tri Pointe Homes has a twelve month low of $30.67 and a twelve month high of $47.78. The firm has a 50 day simple moving average of $36.69 and a 200-day simple moving average of $40.76.

Tri Pointe Homes (NYSE:TPH) last posted its quarterly earnings results on Tuesday, February 18th. The construction company reported $1.37 EPS for the quarter, beating the consensus estimate of $1.30 by $0.07. The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.22 billion. Tri Pointe Homes had a net margin of 10.41% and a return on equity of 14.83%. On average, equities research analysts predict that Tri Pointe Homes will post 4.72 earnings per share for the current fiscal year.

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

Insider Buying and Selling at Tri Pointe Homes

In other Tri Pointe Homes news, COO Thomas J. Mitchell sold 77,384 shares of the firm’s stock in a transaction that occurred 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 sale, the chief operating officer now owns 708,159 shares of the company’s stock, valued at $27,724,424.85. This trade represents a 9.85 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Tri Pointe Homes

Large investors have recently bought and sold shares of the stock. Raymond James & Associates boosted its stake in Tri Pointe Homes by 19.2% during the third quarter. Raymond James & Associates now owns 208,566 shares of the construction company’s stock worth $9,450,000 after buying an additional 33,629 shares in the last quarter. Geode Capital Management LLC raised its position in Tri Pointe Homes by 3.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,485,663 shares of the construction company’s stock valued at $112,644,000 after purchasing an additional 76,830 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in Tri Pointe Homes by 404.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 43,849 shares of the construction company’s stock worth $1,987,000 after buying an additional 35,162 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Tri Pointe Homes by 260.8% during the third quarter. Assenagon Asset Management S.A. now owns 1,417,263 shares of the construction company’s stock valued at $64,216,000 after purchasing an additional 1,024,425 shares during the last quarter. Finally, Atria Investments Inc increased its stake in shares of Tri Pointe Homes by 30.0% in the 3rd quarter. Atria Investments Inc now owns 15,839 shares of the construction company’s stock valued at $718,000 after buying an additional 3,653 shares during the period. 97.01% of the stock is currently owned by institutional investors and hedge funds.

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.