Analysts Set Tri Pointe Homes Inc. (NYSE:TPH) Price Target at $39.25

Tri Pointe Homes Inc. (NYSE:TPH) has been given an average recommendation of “Moderate Buy” by the seven analysts that are presently covering the stock, MarketBeat reports. Four analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $39.25.

Several research analysts have commented on the stock. Wall Street Zen raised shares of Tri Pointe Homes from a “sell” rating to a “hold” rating in a report on Saturday, August 30th. Weiss Ratings reissued a “hold (c+)” rating on shares of Tri Pointe Homes in a research note on Wednesday, October 8th. Wolfe Research downgraded shares of Tri Pointe Homes from an “outperform” rating to a “peer perform” rating in a research note on Sunday, July 27th. Evercore ISI reiterated an “in-line” rating and issued a $34.00 target price (down previously from $38.00) on shares of Tri Pointe Homes in a research note on Tuesday, October 7th. Finally, Wedbush reiterated an “outperform” rating and issued a $43.00 target price on shares of Tri Pointe Homes in a research note on Friday, July 25th.

Tri Pointe Homes Trading Down 2.2%

Shares of NYSE:TPH opened at $31.79 on Monday. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.34. The stock has a market cap of $2.73 billion, a PE ratio of 9.38, a P/E/G ratio of 0.85 and a beta of 1.30. The business has a 50 day moving average of $34.00 and a 200-day moving average of $32.51. Tri Pointe Homes has a 12-month low of $27.90 and a 12-month high of $45.28.

Tri Pointe Homes (NYSE:TPH) last issued its quarterly earnings data on Thursday, October 23rd. The construction company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.20. Tri Pointe Homes had a net margin of 8.44% and a return on equity of 9.79%. The company had revenue of $836.87 million for the quarter, compared to analysts’ expectations of $782.22 million. During the same quarter in the previous year, the firm posted $1.18 earnings per share. Tri Pointe Homes’s revenue for the quarter was down 26.6% on a year-over-year basis. As a group, equities research analysts forecast that Tri Pointe Homes will post 3.58 earnings per share for the current year.

Tri Pointe Homes declared that its Board of Directors has authorized a share buyback program on Thursday, July 24th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the construction company to buy up to 1.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On Tri Pointe Homes

Several institutional investors have recently bought and sold shares of TPH. Nuveen LLC acquired a new position in shares of Tri Pointe Homes in the 1st quarter valued at $43,906,000. AQR Capital Management LLC boosted its holdings in shares of Tri Pointe Homes by 353.2% during the 2nd quarter. AQR Capital Management LLC now owns 687,307 shares of the construction company’s stock worth $21,788,000 after purchasing an additional 535,640 shares during the last quarter. Allianz Asset Management GmbH boosted its position in shares of Tri Pointe Homes by 54.8% during the 1st quarter. Allianz Asset Management GmbH now owns 1,255,057 shares of the construction company’s stock valued at $40,061,000 after acquiring an additional 444,153 shares during the last quarter. AE Wealth Management LLC lifted its holdings in Tri Pointe Homes by 4,456.8% during the 2nd quarter. AE Wealth Management LLC now owns 348,918 shares of the construction company’s stock worth $11,148,000 after buying an additional 341,261 shares in the last quarter. Finally, First Wilshire Securities Management Inc. purchased a new position in Tri Pointe Homes in the first quarter valued at approximately $9,987,000. Institutional investors own 97.01% of the company’s stock.

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.