Tri Pointe Homes (NYSE:TPH) Shares Gap Up – Time to Buy?

Tri Pointe Homes Inc. (NYSE:TPH) shares gapped up before the market opened on Friday . The stock had previously closed at $36.57, but opened at $46.33. Tri Pointe Homes shares last traded at $46.3550, with a volume of 6,238,501 shares traded.

Analysts Set New Price Targets

Several research firms have commented on TPH. Citigroup began coverage on Tri Pointe Homes in a research report on Wednesday, January 7th. They issued an “outperform” rating on the stock. Royal Bank Of Canada set a $31.00 price target on Tri Pointe Homes in a research note on Friday, January 9th. Citizens Jmp initiated coverage on Tri Pointe Homes in a research note on Wednesday, January 7th. They set a “market outperform” rating and a $46.00 target price for the company. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Tri Pointe Homes in a research report on Tuesday, January 27th. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $39.40.

Tri Pointe Homes Price Performance

The stock has a 50-day simple moving average of $33.64 and a 200 day simple moving average of $33.48. 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 company has a market cap of $3.98 billion, a PE ratio of 13.67, a P/E/G ratio of 1.10 and a beta of 1.39.

Hedge Funds Weigh In On Tri Pointe Homes

Several large investors have recently made changes to their positions in the stock. AE Wealth Management LLC raised its holdings in Tri Pointe Homes by 17.7% during the third quarter. AE Wealth Management LLC now owns 410,836 shares of the construction company’s stock worth $13,956,000 after purchasing an additional 61,918 shares in the last quarter. Wedge Capital Management L L P NC purchased a new position in shares of Tri Pointe Homes during the third quarter worth about $1,398,000. Nomura Holdings Inc. purchased a new stake in shares of Tri Pointe Homes in the 2nd quarter valued at about $6,063,000. Aristides Capital LLC purchased a new position in Tri Pointe Homes during the 2nd quarter worth approximately $250,000. Finally, Moran Wealth Management LLC acquired a new position in Tri Pointe Homes during the second quarter worth approximately $2,143,000. 97.01% of the stock is currently owned by institutional investors and hedge funds.

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.