Tri Pointe Homes (NYSE:TPH) Shares Gap Up - Here's What Happened

Tri Pointe Homes, Inc. (NYSE:TPH - Get Free Report) shares gapped up before the market opened on Monday . The stock had previously closed at $30.33, but opened at $31.16. Tri Pointe Homes shares last traded at $30.95, with a volume of 87,403 shares changing hands.

Analyst Ratings Changes

A number of analysts recently commented on TPH shares. Wedbush upgraded Tri Pointe Homes from a "neutral" rating to an "outperform" rating and lifted their price objective for the stock from $38.00 to $43.00 in a research report on Monday, April 28th. Seaport Res Ptn raised shares of Tri Pointe Homes from a "hold" rating to a "strong-buy" rating in a research note on Thursday, March 6th. Royal Bank of Canada cut shares of Tri Pointe Homes from an "outperform" rating to a "sector perform" rating and reduced their price objective for the company from $41.00 to $37.00 in a research note on Wednesday, February 19th. Oppenheimer cut their price target on 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. Finally, Evercore ISI decreased their price objective on Tri Pointe Homes from $54.00 to $42.00 and set an "outperform" rating for the company in a research note on Wednesday, February 19th. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Tri Pointe Homes currently has an average rating of "Moderate Buy" and a consensus price target of $41.60.

Tri Pointe Homes Stock Performance

The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.64 and a current ratio of 2.24. The firm has a market cap of $2.86 billion, a P/E ratio of 6.52, a PEG ratio of 0.67 and a beta of 1.44. The stock's 50-day moving average is $31.04 and its 200 day moving average is $36.14.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last posted its earnings results on Thursday, April 24th. The construction company reported $0.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.45 by $0.25. Tri Pointe Homes had a return on equity of 14.34% and a net margin of 10.36%. The business had revenue of $720.79 million during the quarter, compared to analysts' expectations of $713.65 million. During the same period in the prior year, the business earned $1.03 EPS. Tri Pointe Homes's revenue for the quarter was down 21.5% compared to the same quarter last year. On average, research analysts predict that Tri Pointe Homes, Inc. will post 3.58 earnings per share for the current year.

Insider Activity at Tri Pointe Homes

In related news, CEO Douglas F. Bauer sold 120,287 shares of Tri Pointe Homes stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $30.15, for a total value of $3,626,653.05. Following the sale, the chief executive officer now owns 627,833 shares of the company's stock, valued at approximately $18,929,164.95. This trade represents a 16.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.70% of the stock is currently owned by insiders.

Institutional Trading of Tri Pointe Homes

A number of hedge funds and other institutional investors have recently made changes to their positions in TPH. Vanguard Group Inc. grew its position in Tri Pointe Homes by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 11,573,813 shares of the construction company's stock valued at $419,666,000 after purchasing an additional 143,365 shares in the last quarter. Pacer Advisors Inc. bought a new position in shares of Tri Pointe Homes in the 4th quarter valued at about $118,407,000. Geode Capital Management LLC increased its position in shares of Tri Pointe Homes by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 2,529,823 shares of the construction company's stock valued at $91,748,000 after acquiring an additional 44,160 shares during the last quarter. GW&K Investment Management LLC raised its holdings in Tri Pointe Homes by 5.3% during the fourth quarter. GW&K Investment Management LLC now owns 2,036,689 shares of the construction company's stock worth $73,850,000 after acquiring an additional 102,187 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in Tri Pointe Homes by 14.0% in the fourth quarter. American Century Companies Inc. now owns 1,946,471 shares of the construction company's stock valued at $70,579,000 after purchasing an additional 238,807 shares in the last quarter. 97.01% of the stock is currently 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.