TRI Pointe Group Inc (NYSE:TPH) – Stock analysts at B. Riley increased their FY2018 earnings per share estimates for TRI Pointe Group in a research report issued to clients and investors on Wednesday. B. Riley analyst A. Rygiel now expects that the construction company will post earnings per share of $1.75 for the year, up from their prior forecast of $1.50. B. Riley has a “Buy” rating on the stock.
TPH has been the topic of several other research reports. FBR & Co restated a “buy” rating and issued a $20.00 price target on shares of TRI Pointe Group in a research note on Thursday, October 26th. BTIG Research upgraded TRI Pointe Group from a “sell” rating to a “neutral” rating and set a $15.00 price target on the stock in a research note on Thursday, October 26th. Zacks Investment Research upgraded TRI Pointe Group from a “sell” rating to a “hold” rating and set a $19.00 price target on the stock in a research note on Tuesday, October 24th. Gabelli upped their price target on TRI Pointe Group from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, October 26th. Finally, Wedbush restated an “outperform” rating and issued a $16.00 price target (down previously from $18.00) on shares of TRI Pointe Group in a research note on Friday, October 20th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $18.00.
TRI Pointe Group (NYSE:TPH) last posted its quarterly earnings results on Wednesday, October 25th. The construction company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.03. The company had revenue of $717.40 million for the quarter, compared to the consensus estimate of $706.65 million. TRI Pointe Group had a return on equity of 9.32% and a net margin of 6.97%. The firm’s quarterly revenue was up 24.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.22 EPS.
In related news, CFO Michael D. Grubbs sold 300,000 shares of the company’s stock in a transaction that occurred on Thursday, October 19th. The stock was sold at an average price of $15.02, for a total value of $4,506,000.00. Following the transaction, the chief financial officer now directly owns 163,828 shares of the company’s stock, valued at approximately $2,460,696.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Glenn J. Keeler sold 15,401 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $16.98, for a total value of $261,508.98. Following the completion of the transaction, the vice president now directly owns 36,399 shares in the company, valued at $618,055.02. The disclosure for this sale can be found here. Insiders sold a total of 1,139,281 shares of company stock worth $19,304,905 over the last ninety days. 2.20% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. California Public Employees Retirement System lifted its position in TRI Pointe Group by 140.0% in the 3rd quarter. California Public Employees Retirement System now owns 24,000 shares of the construction company’s stock valued at $331,000 after acquiring an additional 14,000 shares in the last quarter. Virtu Financial LLC bought a new position in shares of TRI Pointe Group during the 3rd quarter valued at $197,000. Maltese Capital Management LLC bought a new position in shares of TRI Pointe Group during the 3rd quarter valued at $5,662,000. Stifel Financial Corp lifted its holdings in shares of TRI Pointe Group by 8.0% during the 3rd quarter. Stifel Financial Corp now owns 368,470 shares of the construction company’s stock valued at $5,067,000 after buying an additional 27,217 shares during the period. Finally, Thornburg Investment Management Inc. lifted its holdings in shares of TRI Pointe Group by 1.3% during the 3rd quarter. Thornburg Investment Management Inc. now owns 3,009,911 shares of the construction company’s stock valued at $41,567,000 after buying an additional 38,264 shares during the period.
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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.
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