Tri Pointe Homes’ (TPH) Neutral Rating Reiterated at Wedbush

Tri Pointe Homes (NYSE:TPH)‘s stock had its “neutral” rating restated by equities research analysts at Wedbush in a report released on Thursday, Benzinga reports. They presently have a $35.00 price objective on the construction company’s stock. Wedbush’s price objective points to a potential downside of 3.23% from the stock’s current price.

A number of other research firms have also recently weighed in on TPH. Oppenheimer reiterated an “outperform” rating and set a $41.00 price objective (up previously from $36.00) on shares of Tri Pointe Homes in a research report on Wednesday, February 21st. Royal Bank of Canada raised shares of Tri Pointe Homes from a “sector perform” rating to an “outperform” rating and set a $38.00 price objective for the company in a research report on Wednesday, March 13th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Tri Pointe Homes has an average rating of “Moderate Buy” and a consensus target price of $38.80.

Tri Pointe Homes Stock Performance

Shares of TPH stock opened at $36.17 on Thursday. The company has a 50 day moving average price of $35.71 and a 200-day moving average price of $32.83. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $3.45 billion, a PE ratio of 10.48, a P/E/G ratio of 0.77 and a beta of 1.54. Tri Pointe Homes has a 52 week low of $24.18 and a 52 week high of $39.08.

Tri Pointe Homes (NYSE:TPH) last issued its quarterly earnings results on Tuesday, February 20th. The construction company reported $1.36 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.24. Tri Pointe Homes had a net margin of 9.37% and a return on equity of 11.75%. The business had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the previous year, the firm earned $1.98 earnings per share. The company’s revenue for the quarter was down 17.5% on a year-over-year basis. As a group, equities research analysts expect that Tri Pointe Homes will post 3.65 earnings per share for the current year.

Insider Buying and Selling at Tri Pointe Homes

In other news, COO Thomas J. Mitchell sold 51,533 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $35.22, for a total transaction 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 $27,666,824.46. The sale was disclosed in a filing with the SEC, which is accessible through this link. 2.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Ronald Blue Trust Inc. grew its holdings in Tri Pointe Homes by 168.1% in the third quarter. Ronald Blue Trust Inc. now owns 1,016 shares of the construction company’s stock valued at $28,000 after purchasing an additional 637 shares during the last quarter. Exchange Traded Concepts LLC raised its holdings in shares of Tri Pointe Homes by 1,642.6% in the 3rd quarter. Exchange Traded Concepts LLC now owns 33,980 shares of the construction company’s stock worth $929,000 after purchasing an additional 32,030 shares during the period. Cavalier Investments LLC raised its holdings in shares of Tri Pointe Homes by 3.8% in the 3rd quarter. Cavalier Investments LLC now owns 17,120 shares of the construction company’s stock worth $468,000 after purchasing an additional 629 shares during the period. Robeco Institutional Asset Management B.V. grew its stake in shares of Tri Pointe Homes by 44.5% in the third quarter. Robeco Institutional Asset Management B.V. now owns 800,710 shares of the construction company’s stock valued at $21,899,000 after buying an additional 246,648 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Tri Pointe Homes by 49.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,168 shares of the construction company’s stock valued at $852,000 after buying an additional 10,290 shares in the last quarter. Institutional investors and hedge funds 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.