TRI Pointe Group (NYSE:TPH) had its price target upped by analysts at Wedbush from $19.00 to $21.00 in a research note issued to investors on Friday. The brokerage currently has an “outperform” rating on the construction company’s stock. Wedbush’s price target points to a potential upside of 16.54% from the stock’s current price.
Several other research analysts have also recently issued reports on the stock. Zacks Investment Research raised shares of TRI Pointe Group from a “sell” rating to a “hold” rating and set a $19.00 price target for the company in a report on Tuesday, October 24th. BTIG Research raised shares of TRI Pointe Group from a “sell” rating to a “neutral” rating and set a $15.00 price target for the company in a report on Thursday, October 26th. Barclays set a $17.00 price target on shares of TRI Pointe Group and gave the stock a “hold” rating in a report on Thursday, October 26th. ValuEngine raised shares of TRI Pointe Group from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Finally, Gabelli increased their price target on shares of TRI Pointe Group from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, October 26th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. TRI Pointe Group currently has a consensus rating of “Hold” and a consensus target price of $17.56.
Shares of TRI Pointe Group (NYSE:TPH) traded up $0.25 on Friday, hitting $18.02. 1,065,700 shares of the stock traded hands, compared to its average volume of 1,909,815. TRI Pointe Group has a twelve month low of $11.31 and a twelve month high of $18.46. The firm has a market capitalization of $2,673.18, a P/E ratio of 16.38, a price-to-earnings-growth ratio of 1.18 and a beta of 1.74. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.80.
In other TRI Pointe Group news, VP Bradley William Blank sold 14,725 shares of the stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $17.54, for a total value of $258,276.50. Following the completion of the transaction, the vice president now directly owns 49,070 shares of the company’s stock, valued at $860,687.80. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Michael D. Grubbs sold 300,000 shares of the stock in a transaction dated Thursday, October 19th. The shares were sold at an average price of $15.02, for a total transaction of $4,506,000.00. Following the completion of the transaction, the chief financial officer now directly owns 163,828 shares of the company’s stock, valued at $2,460,696.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 913,459 shares of company stock valued at $15,111,927. 2.20% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of the business. Royce & Associates LP increased its holdings in TRI Pointe Group by 8.7% in the second quarter. Royce & Associates LP now owns 709,372 shares of the construction company’s stock valued at $9,357,000 after buying an additional 56,600 shares in the last quarter. Voya Investment Management LLC increased its stake in shares of TRI Pointe Group by 10.6% during the 2nd quarter. Voya Investment Management LLC now owns 64,776 shares of the construction company’s stock worth $854,000 after purchasing an additional 6,212 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of TRI Pointe Group by 29.9% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 40,559 shares of the construction company’s stock worth $560,000 after purchasing an additional 9,324 shares in the last quarter. Aperio Group LLC increased its stake in shares of TRI Pointe Group by 9.1% during the 3rd quarter. Aperio Group LLC now owns 82,298 shares of the construction company’s stock worth $1,137,000 after purchasing an additional 6,834 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of TRI Pointe Group by 5.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,171,757 shares of the construction company’s stock worth $15,784,000 after purchasing an additional 56,400 shares in the last quarter.
TRADEMARK VIOLATION WARNING: “TRI Pointe Group (TPH) Price Target Raised to $21.00 at Wedbush” was originally reported by American Banking and Market News and is owned by of American Banking and Market News. If you are viewing this piece of content on another publication, it was stolen and republished in violation of United States & international trademark & copyright legislation. The legal version of this piece of content can be read at https://www.americanbankingnews.com/2017/12/29/tri-pointe-group-tph-price-target-raised-to-21-00-at-wedbush.html.
About TRI Pointe Group
TRI Pointe Group, Inc is a homebuilder company. The Company’s operations are organized in two principal businesses, including homebuilding and financial services. Its homebuilding operation consists of six segments: Maracay Homes, including operations in Arizona; Pardee Homes, consisting of operations in California and Nevada; Quadrant Homes, consisting of operations in Washington; Trendmaker Homes, consisting of operations in Texas; TRI Pointe Homes, consisting of operations in California and Colorado, and Winchester Homes, consisting of operations in Maryland and Virginia.
