Tri Pointe Homes Inc. (NYSE:TPH) Position Raised by Bayforest Capital Ltd

Bayforest Capital Ltd grew its position in Tri Pointe Homes Inc. (NYSE:TPH - Free Report) by 1,799.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,660 shares of the construction company's stock after acquiring an additional 29,046 shares during the period. Bayforest Capital Ltd's holdings in Tri Pointe Homes were worth $979,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Covestor Ltd boosted its position in shares of Tri Pointe Homes by 58.5% in the 4th quarter. Covestor Ltd now owns 908 shares of the construction company's stock worth $33,000 after buying an additional 335 shares in the last quarter. Sterling Capital Management LLC increased its stake in shares of Tri Pointe Homes by 729.5% during the 4th quarter. Sterling Capital Management LLC now owns 2,082 shares of the construction company's stock valued at $75,000 after acquiring an additional 1,831 shares during the last quarter. New Age Alpha Advisors LLC acquired a new position in shares of Tri Pointe Homes during the 4th quarter valued at about $118,000. CIBC Private Wealth Group LLC increased its stake in shares of Tri Pointe Homes by 8.8% during the 4th quarter. CIBC Private Wealth Group LLC now owns 3,563 shares of the construction company's stock valued at $126,000 after acquiring an additional 287 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in shares of Tri Pointe Homes by 67.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,578 shares of the construction company's stock valued at $130,000 after acquiring an additional 1,445 shares during the last quarter. 97.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Wedbush reissued 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 downgraded shares of Tri Pointe Homes from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. Evercore ISI lowered their price objective 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. Finally, Wolfe Research downgraded shares of Tri Pointe Homes from an "outperform" rating to a "peer perform" rating in a research report on Sunday. One analyst has rated the stock with a sell rating, three have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $40.80.

Tri Pointe Homes Stock Up 4.0%

Shares of Tri Pointe Homes stock traded up $1.24 on Friday, hitting $32.04. 2,129,153 shares of the company's stock traded hands, compared to its average volume of 1,046,678. The stock has a market cap of $2.91 billion, a P/E ratio of 8.15, a PEG ratio of 0.84 and a beta of 1.25. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.28. The firm's 50-day moving average is $31.68 and its 200 day moving average is $32.29. Tri Pointe Homes Inc. has a 52-week low of $27.90 and a 52-week high of $46.91.

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

Tri Pointe Homes declared that its Board of Directors has initiated a stock buyback 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 typically a sign that the company's board of directors believes its stock is undervalued.

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.