Summit Investment Advisors Inc. Boosts Holdings in Tri Pointe Homes, Inc. (NYSE:TPH)

Summit Investment Advisors Inc. grew its position in shares of Tri Pointe Homes, Inc. (NYSE:TPH) by 5.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,645 shares of the construction company’s stock after buying an additional 488 shares during the quarter. Summit Investment Advisors Inc.’s holdings in Tri Pointe Homes were worth $350,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Covestor Ltd raised its holdings in Tri Pointe Homes by 58.5% during the fourth quarter. Covestor Ltd now owns 908 shares of the construction company’s stock worth $33,000 after purchasing an additional 335 shares in the last quarter. Smartleaf Asset Management LLC increased its position in Tri Pointe Homes by 84.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,339 shares of the construction company’s stock worth $49,000 after purchasing an additional 613 shares during the period. Assetmark Inc. raised its stake in shares of Tri Pointe Homes by 19.6% during the 4th quarter. Assetmark Inc. now owns 1,827 shares of the construction company’s stock worth $66,000 after buying an additional 300 shares in the last quarter. Sterling Capital Management LLC lifted its holdings in shares of Tri Pointe Homes by 729.5% in the 4th quarter. Sterling Capital Management LLC now owns 2,082 shares of the construction company’s stock valued at $75,000 after buying an additional 1,831 shares during the period. Finally, Venturi Wealth Management LLC boosted its stake in shares of Tri Pointe Homes by 562.1% in the fourth quarter. Venturi Wealth Management LLC now owns 2,238 shares of the construction company’s stock valued at $81,000 after buying an additional 1,900 shares in the last quarter. Institutional investors and hedge funds own 97.01% of the company’s stock.

Wall Street Analyst Weigh In

TPH has been the subject of several research analyst reports. Seaport Res Ptn upgraded Tri Pointe Homes from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 6th. Oppenheimer cut their price target on shares of Tri Pointe Homes from $53.00 to $43.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. Evercore ISI decreased their price objective on shares of Tri Pointe Homes from $54.00 to $42.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. Wedbush reaffirmed a “neutral” rating and issued a $38.00 target price (down from $44.00) on shares of Tri Pointe Homes in a report on Tuesday, February 18th. Finally, Royal Bank of Canada lowered Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $41.00 to $37.00 in a research note on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.60.

Tri Pointe Homes Stock Up 1.5 %

TPH stock opened at $29.50 on Monday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.24 and a quick ratio of 1.64. Tri Pointe Homes, Inc. has a 12 month low of $27.90 and a 12 month high of $47.78. The firm has a market capitalization of $2.71 billion, a PE ratio of 6.11, a P/E/G ratio of 0.67 and a beta of 1.44. The company’s 50 day simple moving average is $31.58 and its 200-day simple moving average is $36.97.

Tri Pointe Homes (NYSE:TPH) last released its quarterly earnings results on Tuesday, February 18th. The construction company reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.07. Tri Pointe Homes had a return on equity of 14.34% and a net margin of 10.36%. The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Equities analysts expect that Tri Pointe Homes, Inc. will post 3.58 earnings per share for the current fiscal year.

About Tri Pointe Homes

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.