Tri Pointe Homes (NYSE:TPH) Rating Increased to Buy at StockNews.com

Tri Pointe Homes (NYSE:TPH) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Friday.

Several other analysts have also recently commented on the company. Wedbush reiterated a “neutral” rating and set a $35.00 price target on shares of Tri Pointe Homes in a research report on Thursday. Royal Bank of Canada upped their price target on Tri Pointe Homes from $38.00 to $42.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Oppenheimer increased their price objective on Tri Pointe Homes from $41.00 to $46.00 and gave the company an “outperform” rating in a report on Friday. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $40.60.

Tri Pointe Homes Stock Performance

Tri Pointe Homes stock traded up $1.05 during midday trading on Friday, hitting $37.87. The stock had a trading volume of 946,940 shares, compared to its average volume of 1,063,499. Tri Pointe Homes has a 52-week low of $24.18 and a 52-week high of $39.08. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $3.61 billion, a PE ratio of 10.98, a P/E/G ratio of 0.76 and a beta of 1.54. The firm’s fifty day moving average is $35.79 and its two-hundred day moving average is $32.94.

Tri Pointe Homes (NYSE:TPH) last released its earnings results on Thursday, April 25th. The construction company reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.34. Tri Pointe Homes had a return on equity of 11.75% and a net margin of 9.37%. The business had revenue of $918.40 million for the quarter, compared to analyst estimates of $867.77 million. During the same quarter last year, the firm posted $0.73 earnings per share. The business’s revenue was up 19.5% compared to the same quarter last year. On average, research analysts forecast that Tri Pointe Homes will post 3.65 EPS for the current year.

Insider Buying and Selling at Tri Pointe Homes

In related news, COO Thomas J. Mitchell sold 51,533 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $35.22, for a total value of $1,814,992.26. Following the completion of the transaction, the chief operating officer now directly owns 785,543 shares of the company’s stock, valued at approximately $27,666,824.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.00% of the stock is currently owned by insiders.

Institutional Trading of Tri Pointe Homes

A number of hedge funds have recently modified their holdings of the business. Daiwa Securities Group Inc. acquired a new stake in shares of Tri Pointe Homes in the fourth quarter valued at about $35,000. Evermay Wealth Management LLC bought a new position in shares of Tri Pointe Homes in the fourth quarter valued at approximately $35,000. GAMMA Investing LLC bought a new position in shares of Tri Pointe Homes in the fourth quarter valued at approximately $41,000. Assetmark Inc. raised its position in Tri Pointe Homes by 29,825.0% in the 4th quarter. Assetmark Inc. now owns 1,197 shares of the construction company’s stock worth $42,000 after purchasing an additional 1,193 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its holdings in Tri Pointe Homes by 105.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,362 shares of the construction company’s stock worth $48,000 after acquiring an additional 700 shares during the period. Hedge funds and other 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.