Tri Pointe Homes (NYSE:TPH) Given New $38.00 Price Target at Evercore ISI

Key Points

• Evercore ISI has lowered its price target for Tri Pointe Homes from $39.00 to $38.00, while maintaining an "outperform" rating, indicating a potential upside of 20.73% from the current stock price.
• Wedbush upgraded Tri Pointe Homes to an "outperform" rating with a new price target of $43.00, reflecting a positive outlook among some analysts.
• Tri Pointe Homes recently reported a quarterly earnings per share (EPS) of $0.77, exceeding estimates and demonstrating a revenue of $884.01 million, though down 22.3% compared to last year.
• The company's board has initiated a $50.00 million stock repurchase program, signaling confidence in the company's valuation amidst recent trading fluctuations.

Tri Pointe Homes (NYSE:TPH - Free Report) had its price objective reduced by Evercore ISI from $39.00 to $38.00 in a research note released on Friday morning,Benzinga reports. They currently have an outperform rating on the construction company's stock.

Separately, Wedbush raised Tri Pointe Homes from a "neutral" rating to an "outperform" rating and boosted their price target for the stock from $38.00 to $43.00 in a report on Monday, April 28th. One analyst has rated the stock with a sell rating, three have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $40.80.

Tri Pointe Homes Price Performance

Shares of TPH stock traded down $0.10 on Friday, hitting $31.54. 515,401 shares of the stock traded hands, compared to its average volume of 1,025,103. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.79 and a quick ratio of 1.79. Tri Pointe Homes has a 52 week low of $27.90 and a 52 week high of $47.07. The firm has a 50 day simple moving average of $31.64 and a two-hundred day simple moving average of $32.34. The firm has a market cap of $2.86 billion, a price-to-earnings ratio of 8.03, a PEG ratio of 0.82 and a beta of 1.25.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The construction company reported $0.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business had revenue of $884.01 million during the quarter, compared to analyst estimates of $810.77 million. During the same quarter in the prior year, the business posted $1.25 EPS. Tri Pointe Homes's revenue for the quarter was down 22.3% compared to the same quarter last year. As a group, equities research analysts predict that Tri Pointe Homes will post 3.58 earnings per share for the current fiscal year.

Tri Pointe Homes announced that its board has initiated a stock buyback program on Thursday, July 24th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the construction company to buy up to 1.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's management believes its shares are undervalued.

Hedge Funds Weigh In On Tri Pointe Homes

Hedge funds have recently added to or reduced their stakes in the company. Covestor Ltd raised its stake in Tri Pointe Homes by 58.5% in the fourth 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. Smartleaf Asset Management LLC grew its stake in shares of Tri Pointe Homes by 56.5% during the 1st quarter. Smartleaf Asset Management LLC now owns 2,096 shares of the construction company's stock worth $67,000 after purchasing an additional 757 shares during the period. Sterling Capital Management LLC increased its stake in shares of Tri Pointe Homes by 729.5% in the 4th quarter. Sterling Capital Management LLC now owns 2,082 shares of the construction company's stock valued at $75,000 after purchasing an additional 1,831 shares in the last quarter. GAMMA Investing LLC raised its position in Tri Pointe Homes by 19.6% during the second quarter. GAMMA Investing LLC now owns 2,377 shares of the construction company's stock worth $76,000 after acquiring an additional 389 shares during the period. Finally, Blue Trust Inc. boosted its stake in shares of Tri Pointe Homes by 16.6% in the second quarter. Blue Trust Inc. now owns 2,982 shares of the construction company's stock worth $95,000 after acquiring an additional 424 shares during the last quarter. 97.01% of the stock is currently owned by institutional investors.

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.