Raymond James Financial Inc. Takes Position in Tri Pointe Homes, Inc. (NYSE:TPH)

Raymond James Financial Inc. bought a new position in shares of Tri Pointe Homes, Inc. (NYSE:TPH) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 367,970 shares of the construction company’s stock, valued at approximately $13,342,000. Raymond James Financial Inc. owned approximately 0.39% of Tri Pointe Homes as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC boosted its stake in Tri Pointe Homes by 84.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,339 shares of the construction company’s stock worth $49,000 after purchasing an additional 613 shares in the last quarter. Assetmark Inc. grew its holdings in Tri Pointe Homes by 19.6% during the 4th quarter. Assetmark Inc. now owns 1,827 shares of the construction company’s stock worth $66,000 after acquiring an additional 300 shares during the last quarter. Venturi Wealth Management LLC increased its position in Tri Pointe Homes by 562.1% in the 4th quarter. Venturi Wealth Management LLC now owns 2,238 shares of the construction company’s stock valued at $81,000 after acquiring an additional 1,900 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Tri Pointe Homes by 51.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,324 shares of the construction company’s stock worth $84,000 after acquiring an additional 789 shares during the last quarter. Finally, Truvestments Capital LLC bought a new position in shares of Tri Pointe Homes in the third quarter worth about $184,000. 97.01% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on TPH. Oppenheimer lowered their price target on shares of Tri Pointe Homes from $53.00 to $43.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. StockNews.com cut Tri Pointe Homes from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Royal Bank of Canada cut Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from $41.00 to $37.00 in a report on Wednesday, February 19th. Seaport Res Ptn upgraded Tri Pointe Homes from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 6th. Finally, Wedbush reiterated a “neutral” rating and issued a $38.00 price objective (down from $44.00) on shares of Tri Pointe Homes in a research report on Tuesday, February 18th. Four investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to 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 $31.78 on Thursday. The firm has a market capitalization of $2.91 billion, a P/E ratio of 6.58, a PEG ratio of 0.67 and a beta of 1.71. Tri Pointe Homes, Inc. has a 1 year low of $30.25 and a 1 year high of $47.78. The business has a 50-day moving average of $34.42 and a 200-day moving average of $39.20. The company has a current ratio of 2.24, a quick ratio of 1.64 and a debt-to-equity ratio of 0.28.

Tri Pointe Homes (NYSE:TPH) last posted 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. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates 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, Inc. will post 3.58 EPS for the current year.

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

Tri Pointe Homes 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.