Tri Pointe Homes Inc. $TPH Shares Bought by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. increased its stake in Tri Pointe Homes by 14.1% to 419,832 shares, now valued at approximately $13.4 million.
• Tri Pointe Homes had a quarterly EPS of $0.77, exceeding expectations, despite a 22.3% revenue decline compared to the previous year.
• The company has authorized a $50 million share repurchase plan, signaling management's belief that the stock is currently undervalued.

Raymond James Financial Inc. raised its position in Tri Pointe Homes Inc. (NYSE:TPH - Free Report) by 14.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 419,832 shares of the construction company's stock after purchasing an additional 51,862 shares during the quarter. Raymond James Financial Inc. owned 0.46% of Tri Pointe Homes worth $13,402,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TPH. Castlekeep Investment Advisors LLC purchased a new stake in Tri Pointe Homes in the 4th quarter worth about $60,261,000. Nuveen LLC purchased a new stake in Tri Pointe Homes in the 1st quarter worth about $43,906,000. Allianz Asset Management GmbH raised its position in Tri Pointe Homes by 54.8% in the 1st quarter. Allianz Asset Management GmbH now owns 1,255,057 shares of the construction company's stock worth $40,061,000 after purchasing an additional 444,153 shares during the period. Boston Partners raised its position in Tri Pointe Homes by 108.8% in the 1st quarter. Boston Partners now owns 511,741 shares of the construction company's stock worth $16,333,000 after purchasing an additional 266,685 shares during the period. Finally, American Century Companies Inc. raised its position in Tri Pointe Homes by 13.5% in the 1st quarter. American Century Companies Inc. now owns 2,209,166 shares of the construction company's stock worth $70,517,000 after purchasing an additional 262,695 shares during the period. 97.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on TPH shares. Wolfe Research lowered shares of Tri Pointe Homes from an "outperform" rating to a "peer perform" rating in a research report on Sunday, July 27th. Wedbush reaffirmed an "outperform" rating and set a $43.00 target price on shares of Tri Pointe Homes 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. Finally, Evercore ISI reduced their target price on shares of Tri Pointe Homes from $39.00 to $38.00 and set an "outperform" rating on the stock in a research report on Friday, July 25th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $40.80.

Tri Pointe Homes Stock Up 2.9%

TPH stock traded up $1.02 during trading on Thursday, hitting $36.32. 880,684 shares of the company's stock traded hands, compared to its average volume of 925,901. The firm has a market capitalization of $3.29 billion, a P/E ratio of 9.24, a PEG ratio of 0.96 and a beta of 1.27. The business has a fifty day simple moving average of $33.71 and a two-hundred day simple moving average of $31.91. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.28. 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 issued its quarterly earnings data on Thursday, July 24th. The construction company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.11. The company had revenue of $884.01 million for the quarter, compared to analyst estimates of $810.77 million. Tri Pointe Homes had a net margin of 9.22% and a return on equity of 11.33%. Tri Pointe Homes's revenue was down 22.3% compared to the same quarter last year. During the same period last year, the company posted $1.25 earnings per share. Sell-side analysts anticipate that Tri Pointe Homes Inc. will post 3.58 EPS for the current year.

Tri Pointe Homes declared that its Board of Directors has initiated a stock buyback plan on Thursday, July 24th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the construction company to purchase up to 1.6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's leadership 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.