Tri Pointe Homes (NYSE:TPH) Upgraded by Seaport Res Ptn to “Strong-Buy” Rating

Seaport Res Ptn upgraded shares of Tri Pointe Homes (NYSE:TPH) from a hold rating to a strong-buy rating in a research report released on Thursday morning,Zacks.com reports.

Several other research analysts have also recently weighed in on TPH. 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 lowered Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $41.00 to $37.00 in a report on Wednesday, February 19th. Wedbush reaffirmed a “neutral” rating and issued a $38.00 price objective (down previously from $44.00) on shares of Tri Pointe Homes in a research note on Tuesday, February 18th. Evercore ISI dropped their price objective on Tri Pointe Homes from $54.00 to $42.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. Finally, Oppenheimer decreased their target price on Tri Pointe Homes from $53.00 to $43.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. Four research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $40.60.

Tri Pointe Homes Price Performance

TPH opened at $32.75 on Thursday. The firm has a market cap of $3.01 billion, a price-to-earnings ratio of 6.78, a PEG ratio of 0.67 and a beta of 1.71. Tri Pointe Homes has a 1 year low of $30.25 and a 1 year high of $47.78. The stock’s 50 day simple moving average is $35.08 and its 200 day simple moving average is $39.91. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.24 and a quick ratio of 1.64.

Tri Pointe Homes (NYSE:TPH) last released its earnings results on Tuesday, February 18th. The construction company reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.07. The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Tri Pointe Homes had a return on equity of 14.34% and a net margin of 10.36%. As a group, analysts predict that Tri Pointe Homes will post 3.58 earnings per share for the current year.

Tri Pointe Homes declared that its Board of Directors has authorized a stock buyback plan on Wednesday, December 18th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the construction company to reacquire up to 7.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Activity 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 that occurred on Monday, December 16th. The stock was sold at an average price of $39.15, for a total transaction of $3,029,583.60. Following the completion of 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tri Pointe Homes

A number of large investors have recently made changes to their positions in TPH. Geode Capital Management LLC lifted its holdings in Tri Pointe Homes by 3.2% in the third quarter. Geode Capital Management LLC now owns 2,485,663 shares of the construction company’s stock valued at $112,644,000 after acquiring an additional 76,830 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Tri Pointe Homes by 3.5% during the fourth quarter. Principal Financial Group Inc. now owns 486,100 shares of the construction company’s stock worth $17,626,000 after acquiring an additional 16,380 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in Tri Pointe Homes by 404.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 43,849 shares of the construction company’s stock valued at $1,987,000 after buying an additional 35,162 shares during the last quarter. New York State Teachers Retirement System increased its holdings in Tri Pointe Homes by 15.3% in the fourth quarter. New York State Teachers Retirement System now owns 67,505 shares of the construction company’s stock valued at $2,448,000 after buying an additional 8,948 shares during the last quarter. Finally, Atria Investments Inc increased its holdings in Tri Pointe Homes by 30.0% in the third 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 last quarter. 97.01% of the stock is currently owned by hedge funds and other institutional investors.

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.