EFG Asset Management North America Corp. Grows Holdings in Tri Pointe Homes Inc. $TPH

Key Points

• EFG Asset Management North America Corp. increased its stake in Tri Pointe Homes Inc. by 22.1%, now owning 90,173 shares valued at approximately $2.88 million.
• Tri Pointe Homes reported $884.01 million in revenue for the last quarter, exceeding analysts' expectations, with earnings per share of $0.77.
• The company has authorized a $50 million stock buyback plan, indicating management's belief that the shares may be undervalued.

EFG Asset Management North America Corp. increased its position in shares of Tri Pointe Homes Inc. (NYSE:TPH - Free Report) by 22.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 90,173 shares of the construction company's stock after buying an additional 16,329 shares during the period. EFG Asset Management North America Corp. owned 0.10% of Tri Pointe Homes worth $2,880,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Smartleaf Asset Management LLC raised its stake in 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 buying an additional 757 shares during the last quarter. CWM LLC raised its stake in 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 buying an additional 1,534 shares during the last quarter. Covestor Ltd raised its stake in 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 buying an additional 2,976 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in 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 buying an additional 1,445 shares during the last quarter. Finally, Banco Bilbao Vizcaya Argentaria S.A. bought a new position in Tri Pointe Homes during the first quarter worth $202,000. Institutional investors own 97.01% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Wedbush reissued an "outperform" rating and set a $43.00 target price on shares of Tri Pointe Homes in a research note on Friday, July 25th. Wolfe Research downgraded shares of Tri Pointe Homes from an "outperform" rating to a "peer perform" rating in a research note on Sunday, July 27th. Wall Street Zen raised shares of Tri Pointe Homes from a "sell" rating to a "hold" rating in a research note on Saturday, August 30th. Finally, Evercore ISI decreased their price target on shares of Tri Pointe Homes from $39.00 to $38.00 and set an "outperform" rating for the company in a research note on Friday, July 25th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $40.80.

Tri Pointe Homes Stock Down 0.8%

Shares of NYSE TPH traded down $0.28 during mid-day trading on Monday, reaching $36.86. 693,495 shares of the company's stock traded hands, compared to its average volume of 1,033,351. The stock has a market cap of $3.34 billion, a P/E ratio of 9.38, a PEG ratio of 1.01 and a beta of 1.27. The business has a 50-day simple moving average of $33.81 and a 200 day simple moving average of $31.95. Tri Pointe Homes Inc. has a 1-year low of $27.90 and a 1-year high of $46.91. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.79 and a quick ratio of 1.79.

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

Tri Pointe Homes declared that its board has authorized a stock repurchase program on Thursday, July 24th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the construction company to purchase up to 1.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.

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.