Wedbush assumed coverage on shares of Tri Pointe Homes Inc. (NYSE:TPH) in a report released on Monday. The brokerage issued an outperform rating and a $17.00 price objective on the stock.

Analyst Recommendations for Tri Pointe Homes (NYSE:TPH)

TPH has been the topic of several other research reports. Citigroup Inc. raised their price objective on Tri Pointe Homes from $15.00 to $17.00 and gave the stock a buy rating in a research note on Friday, July 29th. TheStreet upgraded Tri Pointe Homes from a sell rating to a hold rating in a report on Wednesday, June 22nd. Zacks Investment Research upgraded Tri Pointe Homes from a strong sell rating to a hold rating in a report on Tuesday, July 19th. Finally, FBR & Co increased their target price on Tri Pointe Homes from $15.00 to $17.00 and gave the stock an outperform rating in a report on Thursday, July 28th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Tri Pointe Homes currently has an average rating of Buy and an average price target of $15.79.

Tri Pointe Homes (NYSE:TPH) opened at 12.53 on Monday. The firm has a market cap of $2.01 billion, a PE ratio of 8.53 and a beta of 1.61. Tri Pointe Homes has a 52-week low of $8.83 and a 52-week high of $14.60. The company’s 50 day moving average price is $13.36 and its 200 day moving average price is $12.29.

Tri Pointe Homes (NYSE:TPH) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.18. The business had revenue of $556.93 million for the quarter, compared to the consensus estimate of $545.23 million. Tri Pointe Homes had a return on equity of 14.02% and a net margin of 9.23%. The firm’s revenue was up 30.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.34 EPS. Analysts predict that Tri Pointe Homes will post $1.27 earnings per share for the current fiscal year.

A number of institutional investors have recently bought and sold shares of TPH. LS Investment Advisors LLC boosted its position in Tri Pointe Homes by 65.8% in the second quarter. LS Investment Advisors LLC now owns 8,974 shares of the company’s stock worth $106,000 after buying an additional 3,563 shares during the last quarter. Bayesian Capital Management LP acquired a new position in Tri Pointe Homes during the first quarter worth approximately $118,000. Nuveen Fund Advisors LLC acquired a new position in Tri Pointe Homes during the second quarter worth approximately $119,000. HBK Investments L P acquired a new position in Tri Pointe Homes during the first quarter worth approximately $134,000. Finally, AQR Capital Management LLC acquired a new position in Tri Pointe Homes during the second quarter worth approximately $139,000. Institutional investors and hedge funds own 98.27% of the company’s stock.

Tri Pointe Homes Company Profile

TRI Pointe Group, Inc is a homebuilder company. The Company’s operations are organized in two principal businesses, including homebuilding and financial services. The Company’s homebuilding operation consists of six segments: Maracay Homes, including operations in Arizona; Pardee Homes, consisting of operations in California and Nevada; Quadrant Homes, consisting of operations in Washington; Trendmaker Homes, consisting of operations in Texas; TRI Pointe Homes, consisting of operations in California and Colorado, and Winchester Homes, consisting of operations in Maryland and Virginia.

5 Day Chart for NYSE:TPH

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