Tri Pointe Homes Inc. $TPH Shares Acquired by O Keefe Stevens Advisory Inc.

O Keefe Stevens Advisory Inc. grew its stake in Tri Pointe Homes Inc. (NYSE:TPH) by 10.0% during the second quarter, HoldingsChannel.com reports. The firm owned 273,349 shares of the construction company’s stock after purchasing an additional 24,765 shares during the period. Tri Pointe Homes makes up approximately 2.5% of O Keefe Stevens Advisory Inc.’s holdings, making the stock its 17th biggest holding. O Keefe Stevens Advisory Inc.’s holdings in Tri Pointe Homes were worth $8,734,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of TPH. GAMMA Investing LLC raised its stake in shares of Tri Pointe Homes by 3,491.2% in the 1st quarter. GAMMA Investing LLC now owns 63,457 shares of the construction company’s stock valued at $1,988,000 after purchasing an additional 61,690 shares in the last quarter. Signet Financial Management LLC raised its stake in shares of Tri Pointe Homes by 0.7% in the 1st quarter. Signet Financial Management LLC now owns 132,046 shares of the construction company’s stock valued at $4,215,000 after purchasing an additional 960 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Tri Pointe Homes in the 1st quarter valued at about $300,000. Assenagon Asset Management S.A. raised its stake in Tri Pointe Homes by 23.3% during the first quarter. Assenagon Asset Management S.A. now owns 1,114,358 shares of the construction company’s stock worth $35,570,000 after acquiring an additional 210,810 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its stake in Tri Pointe Homes by 57.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,880 shares of the construction company’s stock worth $252,000 after acquiring an additional 2,875 shares during the period. Institutional investors and hedge funds own 97.01% of the company’s stock.

Tri Pointe Homes Price Performance

Shares of NYSE:TPH opened at $34.67 on Friday. The firm’s 50 day moving average is $34.33 and its two-hundred day moving average is $32.35. Tri Pointe Homes Inc. has a 52 week low of $27.90 and a 52 week high of $46.91. The firm has a market capitalization of $3.14 billion, a P/E ratio of 8.82, a PEG ratio of 0.94 and a beta of 1.30. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.28.

Tri Pointe Homes (NYSE:TPH) last announced its quarterly earnings results on Thursday, July 24th. The construction company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.66 by $0.11. Tri Pointe Homes had a net margin of 9.22% and a return on equity of 11.33%. The company had revenue of $884.01 million for the quarter, compared to analyst estimates of $810.77 million. During the same quarter last year, the business earned $1.25 earnings per share. Tri Pointe Homes’s revenue was down 22.3% compared to the same quarter last year. Analysts anticipate that Tri Pointe Homes Inc. will post 3.58 earnings per share for the current year.

Tri Pointe Homes declared that its board has approved a share buyback plan on Thursday, July 24th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the construction company to buy up to 1.6% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

TPH has been the topic of several research reports. Wedbush reiterated an “outperform” rating and set a $43.00 price objective on shares of Tri Pointe Homes in a research note on Friday, July 25th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Tri Pointe Homes in a research note on Saturday, September 27th. Wall Street Zen upgraded shares of Tri Pointe Homes from a “sell” rating to a “hold” rating in a research note on Saturday, August 30th. Wolfe Research lowered shares of Tri Pointe Homes from an “outperform” rating to a “peer perform” rating in a research note on Sunday, July 27th. Finally, Evercore ISI dropped their price objective on shares of Tri Pointe Homes from $39.00 to $38.00 and set an “outperform” rating on the stock in a research note on Friday, July 25th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Tri Pointe Homes presently has a consensus rating of “Moderate Buy” and an average price target of $40.25.

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.