StockNews.com Upgrades Tri Pointe Homes (NYSE:TPH) to “Buy”

Tri Pointe Homes (NYSE:TPH) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.

Several other equities research analysts have also recently commented on TPH. Wedbush reaffirmed a “neutral” rating and issued a $35.00 price target on shares of Tri Pointe Homes in a report on Thursday. Royal Bank of Canada raised their target price on Tri Pointe Homes from $38.00 to $42.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Oppenheimer raised their target price on Tri Pointe Homes from $41.00 to $46.00 and gave the stock an “outperform” rating in a research note on Friday. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $40.60.

Tri Pointe Homes Price Performance

NYSE:TPH opened at $37.88 on Friday. Tri Pointe Homes has a one year low of $24.18 and a one year high of $39.08. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.11 and a current ratio of 1.99. The stock has a market cap of $3.61 billion, a PE ratio of 10.10, a P/E/G ratio of 0.77 and a beta of 1.54. The stock has a 50 day moving average price of $35.79 and a 200 day moving average price of $32.98.

Tri Pointe Homes (NYSE:TPH) last posted its quarterly earnings results on Thursday, April 25th. The construction company reported $1.03 EPS for the quarter, beating the consensus estimate of $0.69 by $0.34. Tri Pointe Homes had a return on equity of 12.39% and a net margin of 9.62%. The firm had revenue of $918.40 million during the quarter, compared to analysts’ expectations of $867.77 million. During the same quarter last year, the firm earned $0.73 earnings per share. The business’s revenue for the quarter was up 19.5% on a year-over-year basis. Equities research analysts expect that Tri Pointe Homes will post 3.65 EPS for the current fiscal year.

Insider Transactions at Tri Pointe Homes

In other news, COO Thomas J. Mitchell sold 51,533 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $35.22, for a total transaction of $1,814,992.26. Following the completion of the transaction, the chief operating officer now directly owns 785,543 shares in the company, valued at $27,666,824.46. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of TPH. Pacer Advisors Inc. boosted its position in shares of Tri Pointe Homes by 63.8% during the fourth quarter. Pacer Advisors Inc. now owns 3,913,521 shares of the construction company’s stock worth $138,539,000 after buying an additional 1,524,401 shares during the period. GW&K Investment Management LLC purchased a new position in Tri Pointe Homes in the fourth quarter valued at $24,389,000. Norges Bank purchased a new position in Tri Pointe Homes in the fourth quarter valued at $22,862,000. American Century Companies Inc. boosted its holdings in Tri Pointe Homes by 21.7% in the third quarter. American Century Companies Inc. now owns 1,683,362 shares of the construction company’s stock valued at $46,040,000 after purchasing an additional 300,383 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in Tri Pointe Homes by 44.5% in the third quarter. Robeco Institutional Asset Management B.V. now owns 800,710 shares of the construction company’s stock valued at $21,899,000 after purchasing an additional 246,648 shares during the period. 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.