Tri Pointe Homes (NYSE:TPH) Downgraded to “Hold” Rating by StockNews.com

StockNews.com lowered shares of Tri Pointe Homes (NYSE:TPH) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning.

Several other research firms also recently commented on TPH. 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 for the company in a research note on Friday, October 25th. Zelman & Associates upgraded shares of Tri Pointe Homes from an “underperform” rating to a “neutral” rating and set a $43.00 price target for the company in a research note on Tuesday, September 17th. Oppenheimer cut their price objective on shares of 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. Finally, Wedbush reaffirmed a “neutral” rating and set a $42.00 price objective on shares of Tri Pointe Homes in a report on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $45.75.

Tri Pointe Homes Trading Down 2.3 %

NYSE:TPH opened at $38.17 on Tuesday. Tri Pointe Homes has a one year low of $32.79 and a one year high of $47.78. The firm has a 50-day simple moving average of $42.29 and a 200-day simple moving average of $41.90. The firm has a market cap of $3.57 billion, a P/E ratio of 7.92, a P/E/G ratio of 0.64 and a beta of 1.60. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.64 and a current ratio of 1.64.

Tri Pointe Homes (NYSE:TPH) last posted its quarterly earnings results on Thursday, October 24th. The construction company reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.11. Tri Pointe Homes had a net margin of 10.41% and a return on equity of 14.83%. The company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same period last year, the firm posted $0.76 EPS. Tri Pointe Homes’s revenue for the quarter was up 34.9% compared to the same quarter last year. Equities analysts anticipate that Tri Pointe Homes will post 4.72 EPS for the current fiscal year.

Insider Buying and Selling at Tri Pointe Homes

In other Tri Pointe Homes news, COO Thomas J. Mitchell sold 77,384 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were 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 directly owns 708,159 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this hyperlink. 2.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tri Pointe Homes

Large investors have recently made changes to their positions in the business. 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 worth $280,000 after buying an additional 258 shares during the last quarter. Empowered Funds LLC boosted its stake 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 acquiring an additional 265 shares in the last quarter. Blue Trust Inc. grew its stake in Tri Pointe Homes by 31.7% in the 2nd quarter. Blue Trust Inc. now owns 1,774 shares of the construction company’s stock valued at $69,000 after buying an additional 427 shares during the last quarter. Evergreen Capital Management LLC grew its position in shares of Tri Pointe Homes by 7.1% in the second quarter. Evergreen Capital Management LLC now owns 7,863 shares of the construction company’s stock valued at $293,000 after purchasing an additional 519 shares during the last quarter. Finally, First Trust Direct Indexing L.P. boosted its position in shares of Tri Pointe Homes by 9.4% in the third quarter. First Trust Direct Indexing L.P. now owns 6,266 shares of the construction company’s stock valued at $284,000 after acquiring an additional 541 shares during the period. Institutional investors and hedge funds own 97.01% of the company’s stock.

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.