TRI Pointe Group (TPH) Raised to Buy at Zacks Investment Research

TRI Pointe Group (NYSE:TPH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday, August 3rd. The brokerage currently has a $15.00 price objective on the construction company’s stock. Zacks Investment Research‘s price objective would suggest a potential downside of 10.66% from the stock’s previous close.

According to Zacks, “TRI Pointe Group, Inc. is involved in the design, construction and sale of single-family homes. The company’s operating portfolio includes Maracay Homes in Arizona; Pardee Homes in California and Nevada; Quadrant Homes in Washington; Trendmaker Homes in Texas; TRI Pointe Homes in California and Colorado; and Winchester Homes in Maryland and Virginia. TRI Pointe Group, Inc., formerly known as Tri Pointe Homes, Inc., is headquartered in Irvine, California. “

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A number of other research analysts have also weighed in on the company. ValuEngine lowered TRI Pointe Group from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Barclays downgraded TRI Pointe Group from an “overweight” rating to an “equal weight” rating and set a $14.00 price target for the company. in a research report on Tuesday, July 11th. BidaskClub raised TRI Pointe Group from a “hold” rating to a “buy” rating in a research report on Saturday, July 1st. Citigroup downgraded TRI Pointe Group from a “buy” rating to a “neutral” rating and set a $15.00 price target for the company. in a research report on Thursday, July 27th. Finally, TheStreet raised TRI Pointe Group from a “c” rating to a “b-” rating in a research report on Monday, July 10th. One analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $18.88.

Shares of TPH stock traded up $0.08 during trading hours on Thursday, reaching $16.79. The company had a trading volume of 1,526,074 shares, compared to its average volume of 1,796,232. TRI Pointe Group has a 12 month low of $12.01 and a 12 month high of $19.55. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $2,535.83, a PE ratio of 11.82, a P/E/G ratio of 0.85 and a beta of 1.43.

TRI Pointe Group (NYSE:TPH) last posted its earnings results on Tuesday, February 20th. The construction company reported $0.70 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.06. TRI Pointe Group had a return on equity of 11.89% and a net margin of 6.66%. The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same quarter last year, the company earned $0.36 earnings per share. The company’s revenue for the quarter was up 45.7% on a year-over-year basis. equities research analysts anticipate that TRI Pointe Group will post 1.8 earnings per share for the current fiscal year.

TRI Pointe Group announced that its Board of Directors has approved a share buyback plan on Tuesday, February 20th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the construction company to repurchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Several institutional investors and hedge funds have recently modified their holdings of TPH. Thrivent Financial for Lutherans increased its position in TRI Pointe Group by 10.1% in the fourth quarter. Thrivent Financial for Lutherans now owns 25,130 shares of the construction company’s stock worth $288,000 after buying an additional 2,300 shares during the last quarter. Norges Bank purchased a new stake in TRI Pointe Group in the fourth quarter worth $3,253,000. Highbridge Capital Management LLC increased its position in TRI Pointe Group by 172.7% in the fourth quarter. Highbridge Capital Management LLC now owns 54,163 shares of the construction company’s stock worth $622,000 after buying an additional 34,299 shares during the last quarter. Leith Wheeler Investment Counsel Ltd. purchased a new stake in TRI Pointe Group in the first quarter worth $1,289,000. Finally, Creative Planning increased its position in TRI Pointe Group by 17,592.5% in the first quarter. Creative Planning now owns 35,208 shares of the construction company’s stock worth $442,000 after buying an additional 35,009 shares during the last quarter.

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About TRI Pointe Group

TRI Pointe Group, Inc engages in the design, construction, and sale of single-family detached and attached homes in the United States. It operates a portfolio of six brands across eight states, including Maracay Homes in Arizona; Pardee Homes in California and Nevada; Quadrant Homes in Washington; Trendmaker Homes in Texas; TRI Pointe Homes in California and Colorado; and Winchester Homes in Maryland and Virginia.

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