Tri Pointe Homes (NYSE:TPH) Receives Neutral Rating from Wedbush

Wedbush reissued their neutral rating on shares of Tri Pointe Homes (NYSE:TPH) in a research note released on Thursday morning, Benzinga reports. The brokerage currently has a $35.00 price objective on the construction company’s stock.

TPH has been the topic of several other research reports. Oppenheimer reiterated an outperform rating and set a $41.00 price objective (up previously from $36.00) on shares of Tri Pointe Homes in a report on Wednesday, February 21st. Royal Bank of Canada upgraded shares of Tri Pointe Homes from a sector perform rating to an outperform rating and set a $38.00 price objective on the stock in a report on Wednesday, March 13th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of Moderate Buy and an average price target of $40.60.

Tri Pointe Homes Stock Performance

Shares of TPH opened at $37.88 on Thursday. The company has a current ratio of 1.99, a quick ratio of 2.11 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $3.61 billion, a P/E ratio of 10.10, a price-to-earnings-growth ratio of 0.80 and a beta of 1.54. The firm’s fifty day simple moving average is $35.79 and its two-hundred day simple moving average is $32.98. Tri Pointe Homes has a 12 month low of $24.18 and a 12 month high of $39.08.

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

Insider Buying and Selling

In related news, COO Thomas J. Mitchell sold 51,533 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $35.22, for a total value of $1,814,992.26. Following the sale, the chief operating officer now owns 785,543 shares in the company, valued at approximately $27,666,824.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tri Pointe Homes

Institutional investors and hedge funds have recently made changes to their positions in the business. Invesco Ltd. raised its holdings in shares of Tri Pointe Homes by 15.1% in the 3rd quarter. Invesco Ltd. now owns 1,042,993 shares of the construction company’s stock worth $28,526,000 after acquiring an additional 137,175 shares during the last quarter. TD Asset Management Inc increased its stake in Tri Pointe Homes by 73.3% in the 3rd quarter. TD Asset Management Inc now owns 80,400 shares of the construction company’s stock valued at $2,199,000 after buying an additional 34,000 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in Tri Pointe Homes by 30.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 6,728 shares of the construction company’s stock valued at $184,000 after buying an additional 1,569 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in Tri Pointe Homes by 26.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 727,045 shares of the construction company’s stock valued at $19,885,000 after buying an additional 153,994 shares during the last quarter. Finally, Richard Bernstein Advisors LLC purchased a new stake in Tri Pointe Homes in the 3rd quarter valued at about $4,886,000. Institutional investors and hedge funds own 97.01% of the company’s stock.

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.