Tri Pointe Homes (NYSE:TPH) Earns Neutral Rating from Wedbush

Wedbush reissued their neutral rating on shares of Tri Pointe Homes (NYSE:TPH - Free Report) in a research note published on Thursday, Benzinga reports. Wedbush currently has a $35.00 price target on the construction company's stock.

Several other equities analysts have also recently commented on the company. Oppenheimer reiterated an outperform rating and set a $41.00 target price (up from $36.00) on shares of Tri Pointe Homes in a research note on Wednesday, February 21st. Royal Bank of Canada upgraded Tri Pointe Homes from a sector perform rating to an outperform rating and set a $38.00 price objective on the stock in a research note on Wednesday, March 13th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $38.80.

Tri Pointe Homes Stock Up 1.7 %

NYSE:TPH traded up $0.63 during trading hours on Thursday, hitting $36.80. The stock had a trading volume of 1,530,271 shares, compared to its average volume of 1,064,320. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 0.46. Tri Pointe Homes has a 1-year low of $24.18 and a 1-year high of $39.08. The business has a 50 day simple moving average of $35.71 and a two-hundred day simple moving average of $32.83. The company has a market cap of $3.51 billion, a PE ratio of 10.48, a price-to-earnings-growth ratio of 0.77 and a beta of 1.54.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last released its earnings results on Tuesday, February 20th. The construction company reported $1.36 EPS for the quarter, beating the consensus estimate of $1.12 by $0.24. The company had revenue of $1.24 billion during the quarter, compared to analysts' expectations of $1.20 billion. Tri Pointe Homes had a return on equity of 11.75% and a net margin of 9.37%. The business's revenue was down 17.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.98 EPS. Analysts predict that Tri Pointe Homes will post 3.65 EPS for the current year.

Insider Buying and Selling at Tri Pointe Homes

In other Tri Pointe Homes news, COO Thomas J. Mitchell sold 51,533 shares of the firm's stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $35.22, for a total value of $1,814,992.26. Following the sale, the chief operating officer now directly owns 785,543 shares in the company, valued at $27,666,824.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Invesco Ltd. increased its holdings in shares of Tri Pointe Homes by 15.1% during the third quarter. Invesco Ltd. now owns 1,042,993 shares of the construction company's stock valued at $28,526,000 after purchasing an additional 137,175 shares during the period. TD Asset Management Inc increased its holdings in shares of Tri Pointe Homes by 73.3% during the third quarter. TD Asset Management Inc now owns 80,400 shares of the construction company's stock valued at $2,199,000 after purchasing an additional 34,000 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Tri Pointe Homes by 30.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 6,728 shares of the construction company's stock worth $184,000 after acquiring an additional 1,569 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of Tri Pointe Homes by 26.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 727,045 shares of the construction company's stock valued at $19,885,000 after purchasing an additional 153,994 shares during the period. Finally, Richard Bernstein Advisors LLC acquired a new stake in Tri Pointe Homes during the 3rd quarter worth about $4,886,000. 97.01% of the stock is owned by institutional investors and hedge funds.

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.