Cibc World Markets Corp Purchases New Shares in Tri Pointe Homes, Inc. (NYSE:TPH)

Cibc World Markets Corp acquired a new position in Tri Pointe Homes, Inc. (NYSE:TPH) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 8,628 shares of the construction company’s stock, valued at approximately $313,000.

Several other institutional investors and hedge funds have also recently modified their holdings of TPH. Smartleaf Asset Management LLC raised 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 buying an additional 613 shares in the last quarter. Assetmark Inc. raised its position in shares of Tri Pointe Homes by 19.6% in 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 in the last quarter. Venturi Wealth Management LLC lifted its stake in shares of 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 purchasing an additional 1,900 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of Tri Pointe Homes by 51.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,324 shares of the construction company’s stock valued at $84,000 after purchasing an additional 789 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in Tri Pointe Homes by 72.8% in the fourth quarter. Blue Trust Inc. now owns 4,093 shares of the construction company’s stock worth $148,000 after purchasing an additional 1,725 shares during the period. 97.01% of the stock is owned by hedge funds and other institutional investors.

Tri Pointe Homes Price Performance

Shares of TPH opened at $32.42 on Tuesday. Tri Pointe Homes, Inc. has a twelve month low of $30.25 and a twelve month high of $47.78. The company has a market capitalization of $2.97 billion, a P/E ratio of 6.71, a price-to-earnings-growth ratio of 0.67 and a beta of 1.71. The firm has a 50 day moving average of $34.24 and a 200 day moving average of $38.93. The company has a quick ratio of 1.64, a current ratio of 2.24 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 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 14.34% and a net margin of 10.36%. As a group, equities research analysts anticipate that Tri Pointe Homes, Inc. will post 3.58 earnings per share for the current fiscal year.

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

Analyst Upgrades and Downgrades

Several equities analysts have commented on TPH shares. Seaport Res Ptn raised Tri Pointe Homes from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 6th. Royal Bank of Canada cut shares of Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and cut their price objective for the stock from $41.00 to $37.00 in a report on Wednesday, February 19th. StockNews.com lowered shares of Tri Pointe Homes from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. Wedbush restated a “neutral” rating and issued a $38.00 price target (down previously from $44.00) on shares of Tri Pointe Homes in a research note on Tuesday, February 18th. Finally, Evercore ISI lowered 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. Four equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Tri Pointe Homes has an average rating of “Moderate Buy” and an average price target of $40.60.

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.