Point72 Asset Management L.P. Takes Position in Tri Pointe Homes, Inc. (NYSE:TPH)

Point72 Asset Management L.P. purchased a new position in Tri Pointe Homes, Inc. (NYSE:TPH - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 35,211 shares of the construction company's stock, valued at approximately $1,277,000.

Several other institutional investors also recently modified their holdings of TPH. Barclays PLC grew its holdings in Tri Pointe Homes by 103.7% in the third quarter. Barclays PLC now owns 209,239 shares of the construction company's stock worth $9,480,000 after purchasing an additional 106,543 shares during the period. Park Avenue Securities LLC grew its stake in shares of Tri Pointe Homes by 7.4% in the 4th quarter. Park Avenue Securities LLC now owns 6,412 shares of the construction company's stock worth $232,000 after buying an additional 444 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its stake in shares of Tri Pointe Homes by 34.1% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 7,661 shares of the construction company's stock worth $278,000 after buying an additional 1,949 shares during the last quarter. Nisa Investment Advisors LLC increased its position in Tri Pointe Homes by 51.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,324 shares of the construction company's stock valued at $84,000 after buying an additional 789 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its stake in Tri Pointe Homes by 4.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 13,998 shares of the construction company's stock valued at $508,000 after buying an additional 648 shares during the last quarter. 97.01% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on TPH. Royal Bank of Canada cut Tri Pointe Homes from an "outperform" rating to a "sector perform" rating and cut their target price for the stock from $41.00 to $37.00 in a research note on Wednesday, February 19th. Wedbush upgraded shares of Tri Pointe Homes from a "neutral" rating to an "outperform" rating and upped their price target for the stock from $38.00 to $43.00 in a research note on Monday, April 28th. Evercore ISI reduced their price objective on shares of Tri Pointe Homes from $54.00 to $42.00 and set an "outperform" rating for the company in a research note on Wednesday, February 19th. Seaport Res Ptn raised shares of Tri Pointe Homes from a "hold" rating to a "strong-buy" rating in a report on Thursday, March 6th. Finally, Oppenheimer cut their price target on shares of Tri Pointe Homes from $53.00 to $43.00 and set an "outperform" rating on the stock in a report on Wednesday, February 19th. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $41.60.

Tri Pointe Homes Trading Down 3.5%

Shares of NYSE:TPH opened at $30.21 on Thursday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.24 and a quick ratio of 1.64. Tri Pointe Homes, Inc. has a 1 year low of $27.90 and a 1 year high of $47.78. The company has a market cap of $2.74 billion, a P/E ratio of 6.25, a PEG ratio of 0.67 and a beta of 1.34. The stock's fifty day moving average price is $30.95 and its 200-day moving average price is $35.14.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last issued its earnings results on Thursday, April 24th. The construction company reported $0.70 earnings per share for the quarter, topping analysts' consensus estimates of $0.45 by $0.25. The business had revenue of $720.79 million during the quarter, compared to analyst estimates of $713.65 million. Tri Pointe Homes had a return on equity of 14.34% and a net margin of 10.36%. Tri Pointe Homes's revenue was down 21.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.03 EPS. Sell-side analysts expect that Tri Pointe Homes, Inc. will post 3.58 earnings per share for the current year.

Insider Transactions at Tri Pointe Homes

In related news, CEO Douglas F. Bauer sold 120,287 shares of the stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $30.15, for a total transaction of $3,626,653.05. Following the transaction, the chief executive officer now owns 627,833 shares in the company, valued at $18,929,164.95. This represents a 16.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.70% 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.

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