Tri Pointe Homes (NYSE:TPH) Upgraded at StockNews.com

StockNews.com upgraded shares of Tri Pointe Homes (NYSE:TPH) from a hold rating to a buy rating in a research report sent to investors on Friday.

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

Tri Pointe Homes Trading Up 2.9 %

Shares of NYSE TPH opened at $37.88 on Friday. The company has a quick ratio of 2.11, a current ratio of 1.99 and a debt-to-equity ratio of 0.45. The business has a fifty day simple moving average of $35.79 and a two-hundred day simple moving average of $33.01. The firm has a market cap of $3.62 billion, a PE ratio of 10.10, a price-to-earnings-growth ratio of 0.80 and a beta of 1.54. Tri Pointe Homes has a twelve month low of $24.18 and a twelve month high of $39.08.

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

Insider Buying and Selling

In related news, COO Thomas J. Mitchell sold 51,533 shares of the business’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 transaction, the chief operating officer now directly owns 785,543 shares in the company, valued at approximately $27,666,824.46. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 2.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Invesco Ltd. grew its stake in Tri Pointe Homes by 15.1% during the 3rd quarter. Invesco Ltd. now owns 1,042,993 shares of the construction company’s stock valued at $28,526,000 after purchasing an additional 137,175 shares during the last quarter. TD Asset Management Inc grew its stake in Tri Pointe Homes by 73.3% during the 3rd quarter. TD Asset Management Inc now owns 80,400 shares of the construction company’s stock valued at $2,199,000 after purchasing an additional 34,000 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in Tri Pointe Homes by 30.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 6,728 shares of the construction company’s stock valued at $184,000 after purchasing an additional 1,569 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in Tri Pointe Homes by 26.9% during 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 purchasing an additional 153,994 shares during the last quarter. Finally, Richard Bernstein Advisors LLC purchased a new stake in Tri Pointe Homes during the 3rd quarter valued at about $4,886,000. 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.