Tri Pointe Homes (NYSE:TPH) Hits New 1-Year High – Still a Buy?

Tri Pointe Homes Inc. (NYSE:TPH) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $46.67 and last traded at $46.6260, with a volume of 1121500 shares changing hands. The stock had previously closed at $46.39.

Analyst Ratings Changes

TPH has been the subject of a number of research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tri Pointe Homes in a research note on Tuesday, January 27th. Citizens Jmp assumed coverage on shares of Tri Pointe Homes in a research note on Wednesday, January 7th. They set a “market outperform” rating and a $46.00 price target on the stock. Oppenheimer cut shares of Tri Pointe Homes from an “outperform” rating to a “market perform” rating in a research report on Friday, February 13th. Royal Bank Of Canada lifted their price objective on shares of Tri Pointe Homes from $31.00 to $47.00 and gave the company a “sector perform” rating in a report on Tuesday, February 17th. Finally, Citigroup started coverage on shares of Tri Pointe Homes in a research note on Wednesday, January 7th. They set an “outperform” rating on the stock. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $42.50.

Tri Pointe Homes Stock Up 0.5%

The business has a 50-day simple moving average of $40.03 and a 200-day simple moving average of $35.50. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.63 and a current ratio of 2.63. The company has a market cap of $3.97 billion, a price-to-earnings ratio of 17.14, a price-to-earnings-growth ratio of 1.38 and a beta of 1.34.

Tri Pointe Homes (NYSE:TPH) last issued its quarterly earnings results on Wednesday, February 25th. The construction company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.02. Tri Pointe Homes had a net margin of 7.09% and a return on equity of 7.96%. The company had revenue of $972.63 million during the quarter, compared to the consensus estimate of $917.86 million. During the same quarter in the previous year, the firm earned $1.37 earnings per share. The firm’s quarterly revenue was down 22.5% on a year-over-year basis. On average, equities analysts anticipate that Tri Pointe Homes Inc. will post 3.58 earnings per share for the current fiscal year.

Insider Activity at Tri Pointe Homes

In other Tri Pointe Homes news, Director Steven J. Gilbert sold 50,000 shares of Tri Pointe Homes stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $46.33, for a total value of $2,316,500.00. Following the transaction, the director directly owned 30,330 shares in the company, valued at approximately $1,405,188.90. The trade was a 62.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Tri Pointe Homes

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Royal Bank of Canada boosted its position in Tri Pointe Homes by 19.1% during the first quarter. Royal Bank of Canada now owns 72,740 shares of the construction company’s stock worth $2,322,000 after purchasing an additional 11,668 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Tri Pointe Homes by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,879 shares of the construction company’s stock worth $1,752,000 after purchasing an additional 2,398 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Tri Pointe Homes by 7.7% in the 2nd quarter. PNC Financial Services Group Inc. now owns 9,610 shares of the construction company’s stock valued at $307,000 after buying an additional 685 shares in the last quarter. Police & Firemen s Retirement System of New Jersey grew its holdings in Tri Pointe Homes by 6.3% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 20,885 shares of the construction company’s stock valued at $667,000 after buying an additional 1,239 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Tri Pointe Homes by 3.9% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 23,279 shares of the construction company’s stock worth $744,000 after buying an additional 882 shares in the last quarter. Institutional investors and hedge funds own 97.01% of the company’s stock.

Tri Pointe Homes Company Profile

Tri Pointe Homes, Inc (NYSE: TPH) is a national homebuilder engaged in the acquisition, development, construction, marketing and sale of single-family detached homes and attached products. The company’s operations span a range of new residential communities, offering customizable floor plans in both tract and luxury segments. Its integrated business model encompasses land sourcing, entitlement, design, construction oversight and in-house customer care and warranty service.

Founded in 2009 through the combination of three regional builders, Tri Pointe Homes has grown into a prominent player across key western U.S.