O Keefe Stevens Advisory Inc. Increases Stock Position in Tri Pointe Homes Inc. $TPH

Key Points

• O Keefe Stevens Advisory Inc. increased its stake in Tri Pointe Homes Inc. by 10.0% during the second quarter, owning a total of 273,349 shares valued at approximately $8.73 million.
• Tri Pointe Homes reported earnings per share of $0.77 for the last quarter, exceeding analysts' expectations, despite a 22.3% year-over-year revenue decline.
• The company's Board of Directors authorized a share repurchase plan allowing for the buyback of $50 million in outstanding shares, indicating confidence in the stock's current valuation.

O Keefe Stevens Advisory Inc. grew its stake in shares of Tri Pointe Homes Inc. (NYSE:TPH - Free Report) by 10.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 273,349 shares of the construction company's stock after buying an additional 24,765 shares during the period. Tri Pointe Homes accounts for approximately 2.5% of O Keefe Stevens Advisory Inc.'s holdings, making the stock its 17th biggest holding. O Keefe Stevens Advisory Inc. owned approximately 0.30% of Tri Pointe Homes worth $8,734,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. American Century Companies Inc. grew its stake in shares of Tri Pointe Homes by 13.5% during the 1st quarter. American Century Companies Inc. now owns 2,209,166 shares of the construction company's stock valued at $70,517,000 after buying an additional 262,695 shares during the period. LSV Asset Management grew its stake in shares of Tri Pointe Homes by 4.8% during the 1st quarter. LSV Asset Management now owns 1,762,922 shares of the construction company's stock valued at $56,272,000 after buying an additional 80,198 shares during the period. Nuveen LLC purchased a new stake in shares of Tri Pointe Homes during the 1st quarter valued at $43,906,000. Allianz Asset Management GmbH grew its stake in shares of Tri Pointe Homes by 54.8% during the 1st quarter. Allianz Asset Management GmbH now owns 1,255,057 shares of the construction company's stock valued at $40,061,000 after buying an additional 444,153 shares during the period. Finally, Assenagon Asset Management S.A. grew its stake in shares of Tri Pointe Homes by 23.3% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,114,358 shares of the construction company's stock valued at $35,570,000 after buying an additional 210,810 shares during the period. 97.01% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TPH has been the subject of a number of research reports. 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 report on Friday, July 25th. Wall Street Zen raised shares of Tri Pointe Homes from a "sell" rating to a "hold" rating in a research report on Saturday, August 30th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Tri Pointe Homes in a research report on Saturday, September 27th. Wedbush reaffirmed an "outperform" rating and set a $43.00 price target on shares of Tri Pointe Homes in a research report on Friday, July 25th. Finally, Wolfe Research cut shares of Tri Pointe Homes from an "outperform" rating to a "peer perform" rating in a research report on Sunday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Tri Pointe Homes has an average rating of "Moderate Buy" and a consensus target price of $40.25.

Tri Pointe Homes Stock Performance

NYSE:TPH opened at $34.67 on Friday. 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 firm has a 50-day moving average of $34.33 and a two-hundred day moving average of $32.35. The stock has a market cap of $3.14 billion, a P/E ratio of 8.82, a PEG ratio of 0.94 and a beta of 1.30. Tri Pointe Homes Inc. has a 1-year low of $27.90 and a 1-year high of $46.91.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The construction company reported $0.77 earnings per share for the quarter, beating analysts' consensus estimates of $0.66 by $0.11. The company had revenue of $884.01 million during the quarter, compared to analysts' expectations of $810.77 million. Tri Pointe Homes had a net margin of 9.22% and a return on equity of 11.33%. The firm's revenue for the quarter was down 22.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.25 EPS. On average, research analysts expect 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 initiated a share repurchase plan on Thursday, July 24th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the construction company to reacquire up to 1.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its stock is 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.

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