Tri Pointe Homes (NYSE:TPH) Shares Gap Down – What’s Next?

Shares of Tri Pointe Homes, Inc. (NYSE:TPH) gapped down before the market opened on Tuesday . The stock had previously closed at $41.43, but opened at $39.60. Tri Pointe Homes shares last traded at $39.67, with a volume of 108,977 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TPH. Zelman & Associates raised shares of Tri Pointe Homes from an “underperform” rating to a “neutral” rating and set a $43.00 target price for the company in a report on Tuesday, September 17th. Royal Bank of Canada reduced their price objective on shares of Tri Pointe Homes from $48.00 to $45.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Oppenheimer decreased their price objective on shares of Tri Pointe Homes from $56.00 to $53.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Wedbush reaffirmed a “neutral” rating and issued a $42.00 target price on shares of Tri Pointe Homes in a report on Thursday, October 24th. Finally, Evercore ISI upgraded Tri Pointe Homes to a “strong-buy” rating in a research note on Friday, July 26th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $45.75.

Tri Pointe Homes Stock Performance

The firm has a market capitalization of $3.79 billion, a PE ratio of 8.40, a price-to-earnings-growth ratio of 0.66 and a beta of 1.59. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.64 and a current ratio of 1.64. The business’s fifty day simple moving average is $43.88 and its 200-day simple moving average is $40.96.

Tri Pointe Homes (NYSE:TPH) last posted its earnings results on Thursday, October 24th. The construction company reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.11. The company had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.05 billion. Tri Pointe Homes had a net margin of 10.41% and a return on equity of 14.83%. Tri Pointe Homes’s quarterly revenue was up 34.9% on a year-over-year basis. During the same period last year, the company posted $0.76 earnings per share. As a group, equities research analysts expect that Tri Pointe Homes, Inc. will post 4.68 EPS for the current year.

Insider Activity

In related news, General Counsel David Ch Lee sold 5,000 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $44.28, for a total value of $221,400.00. Following the sale, the general counsel now directly owns 85,792 shares in the company, valued at approximately $3,798,869.76. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On Tri Pointe Homes

Several large investors have recently bought and sold shares of the business. Assenagon Asset Management S.A. lifted its position in Tri Pointe Homes by 260.8% during the third quarter. Assenagon Asset Management S.A. now owns 1,417,263 shares of the construction company’s stock valued at $64,216,000 after purchasing an additional 1,024,425 shares during the last quarter. Millennium Management LLC raised its position in Tri Pointe Homes by 14.1% during the second quarter. Millennium Management LLC now owns 925,498 shares of the construction company’s stock valued at $34,475,000 after purchasing an additional 114,244 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Tri Pointe Homes by 3.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 916,372 shares of the construction company’s stock valued at $34,135,000 after purchasing an additional 31,041 shares during the last quarter. Cubist Systematic Strategies LLC boosted its holdings in shares of Tri Pointe Homes by 149.5% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 534,406 shares of the construction company’s stock worth $19,907,000 after purchasing an additional 320,221 shares during the period. Finally, Renaissance Technologies LLC increased its position in shares of Tri Pointe Homes by 1,417.8% during the 2nd quarter. Renaissance Technologies LLC now owns 443,736 shares of the construction company’s stock valued at $16,529,000 after purchasing an additional 414,500 shares during the last quarter. Institutional investors own 97.01% of the company’s stock.

Tri Pointe Homes Company Profile

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.