Tri Pointe Homes (NYSE:TPH) Reaches New 52-Week Low - Here's What Happened

Tri Pointe Homes, Inc. (NYSE:TPH - Get Free Report) hit a new 52-week low during trading on Wednesday . The company traded as low as $27.50 and last traded at $29.50, with a volume of 452 shares changing hands. The stock had previously closed at $29.30.

Analysts Set New Price Targets

TPH has been the topic of several research reports. Oppenheimer decreased their price target on shares of Tri Pointe Homes from $53.00 to $43.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 19th. Seaport Res Ptn raised Tri Pointe Homes from a "hold" rating to a "strong-buy" rating in a report on Thursday, March 6th. Wedbush reissued a "neutral" rating and set a $38.00 target price (down from $44.00) on shares of Tri Pointe Homes in a report on Tuesday, February 18th. Royal Bank of Canada cut shares of Tri Pointe Homes from an "outperform" rating to a "sector perform" rating and cut their price objective for the stock from $41.00 to $37.00 in a research report on Wednesday, February 19th. Finally, Evercore ISI cut their price target on shares of Tri Pointe Homes from $54.00 to $42.00 and set an "outperform" rating for the company in a report on Wednesday, February 19th. Four analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $40.60.

Tri Pointe Homes Stock Performance

The company has a current ratio of 2.24, a quick ratio of 1.64 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $2.71 billion, a price-to-earnings ratio of 6.12, a PEG ratio of 0.67 and a beta of 1.44. The stock's 50-day moving average is $31.58 and its 200-day moving average is $36.97.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The construction company reported $1.37 EPS for the quarter, beating analysts' consensus estimates of $1.30 by $0.07. The company had revenue of $1.22 billion during the quarter, compared to analysts' expectations of $1.22 billion. Tri Pointe Homes had a return on equity of 14.34% and a net margin of 10.36%. On average, analysts predict that Tri Pointe Homes, Inc. will post 3.58 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Pacer Advisors Inc. bought a new position in shares of Tri Pointe Homes during the fourth quarter worth about $118,407,000. Castlekeep Investment Advisors LLC bought a new stake in Tri Pointe Homes in the fourth quarter worth approximately $60,261,000. Norges Bank acquired a new stake in shares of Tri Pointe Homes during the 4th quarter worth approximately $14,815,000. Raymond James Financial Inc. acquired a new position in shares of Tri Pointe Homes during the 4th quarter valued at $13,342,000. Finally, Boston Partners bought a new position in Tri Pointe Homes during the fourth quarter worth $8,888,000. Institutional investors and hedge funds own 97.01% of the company's stock.

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.