Ieq Capital LLC Purchases Shares of 12,388 Tri Pointe Homes Inc. $TPH

Key Points

• Ieq Capital LLC has acquired 12,388 shares of Tri Pointe Homes, valued at approximately $395,000, marking a new position for the company during the first quarter.
• Several analysts have upgraded or modified their ratings for Tri Pointe Homes, with a consensus price target of $40.80 and mixed ratings reflecting a "Moderate Buy" sentiment.
• Tri Pointe Homes has announced a share repurchase program authorizing up to $50 million in buybacks, indicating the Board believes the shares are undervalued.

Ieq Capital LLC purchased a new position in shares of Tri Pointe Homes Inc. (NYSE:TPH - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 12,388 shares of the construction company's stock, valued at approximately $395,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Smartleaf Asset Management LLC boosted its holdings in shares of Tri Pointe Homes by 56.5% during the first quarter. Smartleaf Asset Management LLC now owns 2,096 shares of the construction company's stock worth $67,000 after acquiring an additional 757 shares during the period. CWM LLC boosted its holdings in shares of Tri Pointe Homes by 67.8% during the first quarter. CWM LLC now owns 3,797 shares of the construction company's stock worth $121,000 after acquiring an additional 1,534 shares during the period. Covestor Ltd boosted its holdings in shares of Tri Pointe Homes by 327.8% during the first quarter. Covestor Ltd now owns 3,884 shares of the construction company's stock worth $124,000 after acquiring an additional 2,976 shares during the period. Tower Research Capital LLC TRC boosted its holdings in shares of Tri Pointe Homes by 67.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,578 shares of the construction company's stock worth $130,000 after acquiring an additional 1,445 shares during the period. Finally, Banco Bilbao Vizcaya Argentaria S.A. bought a new stake in shares of Tri Pointe Homes during the first quarter worth approximately $202,000. Institutional investors own 97.01% of the company's stock.

Tri Pointe Homes Price Performance

TPH traded up $0.78 during trading on Friday, hitting $37.09. 769,761 shares of the stock traded hands, compared to its average volume of 920,105. Tri Pointe Homes Inc. has a twelve month low of $27.90 and a twelve month high of $46.91. The company has a market cap of $3.36 billion, a price-to-earnings ratio of 9.44, a PEG ratio of 1.01 and a beta of 1.27. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.79 and a quick ratio of 1.79. The business has a 50 day moving average price of $33.81 and a 200 day moving average price of $31.95.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The construction company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.66 by $0.11. The business had revenue of $884.01 million during the quarter, compared to the consensus estimate of $810.77 million. Tri Pointe Homes had a net margin of 9.22% and a return on equity of 11.33%. The company's revenue was down 22.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.25 earnings per share. Equities research analysts forecast that Tri Pointe Homes Inc. will post 3.58 earnings per share for the current fiscal year.

Tri Pointe Homes announced that its Board of Directors has authorized a stock repurchase program on Thursday, July 24th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the construction company to reacquire up to 1.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.

Analysts Set New Price Targets

TPH has been the subject of a number of research analyst reports. Evercore ISI reduced their price objective on Tri Pointe Homes from $39.00 to $38.00 and set an "outperform" rating for the company in a report on Friday, July 25th. Wedbush reiterated an "outperform" rating and issued a $43.00 price target on shares of Tri Pointe Homes in a research note on Friday, July 25th. Wolfe Research cut Tri Pointe Homes from an "outperform" rating to a "peer perform" rating in a research note on Sunday, July 27th. Finally, Wall Street Zen upgraded Tri Pointe Homes from a "sell" rating to a "hold" rating in a research note on Saturday, August 30th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Tri Pointe Homes presently has a consensus rating of "Moderate Buy" and a consensus target price of $40.80.

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.