Tri Pointe Homes (NYSE:TPH) Upgraded at Wall Street Zen

by · The Cerbat Gem

Tri Pointe Homes (NYSE:TPH – Get Free Report) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

Several other analysts also recently weighed in on the stock. Wolfe Research downgraded shares of Tri Pointe Homes from an “outperform” rating to a “peer perform” rating in a research report on Sunday, July 27th. Evercore ISI dropped their target price on shares of Tri Pointe Homes from $39.00 to $38.00 and set an “outperform” rating on the stock in a research report on Friday, July 25th. Finally, Wedbush reissued an “outperform” rating and set a $43.00 target price on shares of Tri Pointe Homes in a research report on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Tri Pointe Homes has an average rating of “Moderate Buy” and an average price target of $40.80.

Read Our Latest Analysis on TPH

Tri Pointe Homes Stock Down 0.0%

Shares of Tri Pointe Homes stock opened at $35.30 on Friday. The firm’s 50 day moving average price is $33.39 and its 200-day moving average price is $31.87. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.28. Tri Pointe Homes has a 52-week low of $27.90 and a 52-week high of $46.91. The company has a market cap of $3.20 billion, a P/E ratio of 8.98, a PEG ratio of 0.96 and a beta of 1.27.

Tri Pointe Homes (NYSE:TPH – Get Free Report) last released its earnings results on Thursday, July 24th. The construction company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.11. The company had revenue of $884.01 million for the quarter, compared to the consensus estimate of $810.77 million. Tri Pointe Homes had a net margin of 9.22% and a return on equity of 11.33%. Tri Pointe Homes’s revenue was down 22.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.25 EPS. On average, sell-side analysts predict that Tri Pointe Homes will post 3.58 EPS for the current fiscal year.

Tri Pointe Homes announced that its board has approved a stock repurchase plan on Thursday, July 24th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the construction company to purchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

Institutional Trading of Tri Pointe Homes

Several large investors have recently made changes to their positions in the business. Nomura Holdings Inc. purchased a new stake in shares of Tri Pointe Homes in the 2nd quarter valued at $6,063,000. Public Sector Pension Investment Board boosted its holdings in shares of Tri Pointe Homes by 3.4% in the 2nd quarter. Public Sector Pension Investment Board now owns 353,081 shares of the construction company’s stock valued at $11,281,000 after acquiring an additional 11,637 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Tri Pointe Homes by 388.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 8,884 shares of the construction company’s stock valued at $284,000 after acquiring an additional 7,065 shares during the last quarter. Corient Private Wealth LLC purchased a new stake in shares of Tri Pointe Homes in the 2nd quarter valued at $202,000. Finally, Captrust Financial Advisors boosted its holdings in shares of Tri Pointe Homes by 105.5% in the 2nd quarter. Captrust Financial Advisors now owns 15,892 shares of the construction company’s stock valued at $508,000 after acquiring an additional 8,159 shares during the last quarter. 97.01% of the stock is owned by hedge funds and other institutional investors.

Tri Pointe Homes Company Profile

(Get Free Report)

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.

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