Tri Pointe Homes (NYSE:TPH) Lowered to Hold Rating by StockNews.com

StockNews.com cut shares of Tri Pointe Homes (NYSE:TPH) from a buy rating to a hold rating in a report published on Tuesday.

Several other research analysts have also weighed in on TPH. Zelman & Associates upgraded shares of Tri Pointe Homes from an “underperform” rating to a “neutral” rating and set a $43.00 price objective on the stock in a research note on Tuesday, September 17th. Royal Bank of Canada dropped their price objective on shares of Tri Pointe Homes from $48.00 to $45.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Wedbush reaffirmed a “neutral” rating and issued a $42.00 price objective on shares of Tri Pointe Homes in a report on Thursday, October 24th. Finally, Oppenheimer lowered 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 report on Friday, October 25th. Three research 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 company. According to MarketBeat.com, Tri Pointe Homes has an average rating of “Moderate Buy” and a consensus price target of $45.75.

Tri Pointe Homes Stock Down 2.3 %

NYSE TPH opened at $38.17 on Tuesday. The stock’s 50 day simple moving average is $42.29 and its 200 day simple moving average is $41.90. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.64 and a quick ratio of 1.64. The firm has a market cap of $3.57 billion, a PE ratio of 7.92, a price-to-earnings-growth ratio of 0.64 and a beta of 1.60. Tri Pointe Homes has a one year low of $32.79 and a one year high of $47.78.

Tri Pointe Homes (NYSE:TPH) last issued its quarterly earnings results on Thursday, October 24th. The construction company reported $1.18 EPS for the quarter, topping the consensus estimate of $1.07 by $0.11. The company had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.05 billion. Tri Pointe Homes had a net margin of 10.41% and a return on equity of 14.83%. Tri Pointe Homes’s revenue was up 34.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.76 EPS. As a group, sell-side analysts forecast that Tri Pointe Homes will post 4.72 earnings per share for the current fiscal year.

Insider Activity at Tri Pointe Homes

In other Tri Pointe Homes news, COO Thomas J. Mitchell sold 77,384 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $27,724,424.85. The trade was a 9.85 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 2.00% of the stock is owned by company insiders.

Institutional Trading of Tri Pointe Homes

Institutional investors have recently added to or reduced their stakes in the stock. Envestnet Portfolio Solutions Inc. acquired a new stake in Tri Pointe Homes during the second quarter worth approximately $254,000. Blue Trust Inc. grew its holdings in Tri Pointe Homes by 31.7% in the second quarter. Blue Trust Inc. now owns 1,774 shares of the construction company’s stock worth $69,000 after purchasing an additional 427 shares during the period. Raymond James & Associates increased its stake in Tri Pointe Homes by 18.9% in the second quarter. Raymond James & Associates now owns 174,937 shares of the construction company’s stock valued at $6,516,000 after purchasing an additional 27,791 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Tri Pointe Homes by 3.5% during the second quarter. Bank of New York Mellon Corp now owns 916,372 shares of the construction company’s stock valued at $34,135,000 after purchasing an additional 31,041 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Tri Pointe Homes by 10.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,535 shares of the construction company’s stock worth $951,000 after purchasing an additional 2,355 shares in the last quarter. 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.