11,351 Shares in Tri Pointe Homes Inc. $TPH Purchased by Perbak Capital Partners LLP

Key Points

• Perbak Capital Partners LLP has acquired 11,351 shares of Tri Pointe Homes Inc. valued at approximately $362,000 during the first quarter of 2023.
• Tri Pointe Homes reported an earnings per share (EPS) of $0.77 for the last quarter, beating estimates by $0.11, despite a 22.3% year-over-year decline in quarterly revenue.
• The company announced a stock repurchase program allowing for the buyback of up to $50 million in shares, indicating management's belief that the stock is currently undervalued.

Perbak Capital Partners LLP purchased a new stake in Tri Pointe Homes Inc. (NYSE:TPH - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 11,351 shares of the construction company's stock, valued at approximately $362,000.

A number of other institutional investors and hedge funds have also bought and sold shares of TPH. American Century Companies Inc. grew its stake in Tri Pointe Homes by 13.5% during the first quarter. American Century Companies Inc. now owns 2,209,166 shares of the construction company's stock worth $70,517,000 after buying an additional 262,695 shares in the last quarter. LSV Asset Management raised its stake in Tri Pointe Homes by 4.8% during the first quarter. LSV Asset Management now owns 1,762,922 shares of the construction company's stock worth $56,272,000 after acquiring an additional 80,198 shares in the last quarter. Nuveen Asset Management LLC raised its stake in Tri Pointe Homes by 3.0% during the fourth quarter. Nuveen Asset Management LLC now owns 1,736,288 shares of the construction company's stock worth $62,958,000 after acquiring an additional 49,916 shares in the last quarter. Castlekeep Investment Advisors LLC acquired a new position in Tri Pointe Homes during the fourth quarter worth about $60,261,000. Finally, Nuveen LLC acquired a new position in Tri Pointe Homes during the first quarter worth about $43,906,000. Institutional investors and hedge funds own 97.01% of the company's stock.

Tri Pointe Homes Trading Up 2.1%

Shares of NYSE:TPH traded up $0.78 during midday trading on Friday, reaching $37.09. The company's stock had a trading volume of 769,761 shares, compared to its average volume of 920,105. The firm has a market capitalization of $3.36 billion, a price-to-earnings ratio of 9.44, a PEG ratio of 0.98 and a beta of 1.27. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.79 and a current ratio of 1.79. The firm has a 50 day moving average price of $33.81 and a two-hundred day moving average price of $31.94. Tri Pointe Homes Inc. has a fifty-two week low of $27.90 and a fifty-two week high of $46.91.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last issued its earnings results 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 company had revenue of $884.01 million during the quarter, compared to the consensus estimate of $810.77 million. Tri Pointe Homes had a return on equity of 11.33% and a net margin of 9.22%.The firm's revenue for the quarter was down 22.3% compared to the same quarter last year. During the same period last year, the business posted $1.25 EPS. As a group, analysts forecast that Tri Pointe Homes Inc. will post 3.58 earnings per share for the current year.

Tri Pointe Homes announced that its Board of Directors has approved a stock buyback plan on Thursday, July 24th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the construction company to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

Analyst Ratings Changes

A number of brokerages have recently commented on TPH. Wolfe Research lowered Tri Pointe Homes from an "outperform" rating to a "peer perform" rating in a research note on Sunday, July 27th. Wedbush reissued an "outperform" rating and set a $43.00 price target on shares of Tri Pointe Homes in a research note on Friday, July 25th. Wall Street Zen raised Tri Pointe Homes from a "sell" rating to a "hold" rating in a research note on Saturday, August 30th. Finally, Evercore ISI cut their price target on Tri Pointe Homes from $39.00 to $38.00 and set an "outperform" rating on the stock in a research note on Friday, July 25th. One research 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 stock. According to MarketBeat.com, Tri Pointe Homes currently has an average rating of "Moderate Buy" and an average price target 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.