Tri Pointe Homes (NYSE:TPH - Get Free Report)'s stock had its "outperform" rating reiterated by Wedbush in a report released on Friday,RTT News reports. They presently have a $43.00 target price on the construction company's stock. Wedbush's target price points to a potential upside of 36.77% from the company's previous close.
Separately, Evercore ISI lowered their price target on Tri Pointe Homes from $39.00 to $38.00 and set an "outperform" rating on the stock in a research report on Friday. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $40.80.
View Our Latest Report on Tri Pointe Homes
Tri Pointe Homes Stock Performance
TPH traded down $0.29 on Friday, hitting $31.44. The company had a trading volume of 555,691 shares, compared to its average volume of 1,015,151. The company's fifty day moving average price is $31.65 and its 200 day moving average price is $32.43. Tri Pointe Homes has a 1-year low of $27.90 and a 1-year high of $47.78. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.97 and a quick ratio of 1.97. The stock has a market cap of $2.85 billion, a price-to-earnings ratio of 6.98, a price-to-earnings-growth ratio of 0.92 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 EPS for the quarter, topping the consensus estimate of $0.66 by $0.11. The company had revenue of $884.01 million for the quarter, compared to the consensus estimate of $810.77 million. Tri Pointe Homes had a return on equity of 12.97% and a net margin of 10.02%. The company's revenue for the quarter was down 22.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.25 EPS. Equities 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 of Directors has initiated a stock repurchase program on Thursday, July 24th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the construction company to purchase up to 1.6% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board of directors believes its shares are undervalued.
Insider Activity
In related news, CEO Douglas F. Bauer sold 120,287 shares of the stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $30.15, for a total transaction of $3,626,653.05. Following the completion of the transaction, the chief executive officer directly owned 627,833 shares in the company, valued at approximately $18,929,164.95. This trade represents a 16.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.70% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of TPH. Covestor Ltd boosted its stake in shares of Tri Pointe Homes by 58.5% during the 4th quarter. Covestor Ltd now owns 908 shares of the construction company's stock worth $33,000 after acquiring an additional 335 shares during the period. Smartleaf Asset Management LLC boosted 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 acquiring an additional 757 shares during the period. Sterling Capital Management LLC boosted 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 worth $75,000 after acquiring an additional 1,831 shares during the period. GAMMA Investing LLC boosted its stake in shares of Tri Pointe Homes by 19.6% during the 2nd 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% during the 2nd 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 period. 97.01% of the stock is owned by institutional investors and hedge funds.
Tri Pointe Homes Company Profile
(
Get Free Report)
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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