Tri Pointe Homes Inc. (NYSE:TPH - Get Free Report)'s share price dropped 9.6% during trading on Thursday . The stock traded as low as $32.28 and last traded at $31.82. Approximately 827,813 shares were traded during trading, a decline of 18% from the average daily volume of 1,011,663 shares. The stock had previously closed at $35.19.
Analyst Ratings Changes
Separately, Wedbush upgraded Tri Pointe Homes from a "neutral" rating to an "outperform" rating and raised their target price for the stock from $38.00 to $43.00 in a research report on Monday, April 28th. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $41.60.
Check Out Our Latest Stock Report on TPH
Tri Pointe Homes Stock Performance
The company has a market capitalization of $2.88 billion, a P/E ratio of 7.06, a P/E/G ratio of 0.92 and a beta of 1.25. 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's 50 day simple moving average is $31.64 and its two-hundred day simple moving average is $32.45.
Tri Pointe Homes (NYSE:TPH - Get Free Report) last released its earnings results on Thursday, July 24th. The construction company reported $0.77 earnings per share for the quarter, topping analysts' consensus estimates of $0.66 by $0.11. The company had revenue of $884.01 million during 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 firm's quarterly revenue was down 22.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.25 earnings per share. As a group, research analysts expect that Tri Pointe Homes Inc. will post 3.58 earnings per share for the current year.
Insiders Place Their Bets
In other Tri Pointe Homes news, CEO Douglas F. Bauer sold 120,287 shares of the company's stock in a transaction on Monday, April 28th. The shares were sold at an average price of $30.15, for a total transaction of $3,626,653.05. Following the completion of the sale, the chief executive officer owned 627,833 shares in the company, valued at approximately $18,929,164.95. The trade was a 16.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.70% of the company's stock.
Institutional Investors Weigh In On Tri Pointe Homes
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Xponance Inc. increased its position in shares of Tri Pointe Homes by 11.7% in the 4th quarter. Xponance Inc. now owns 6,759 shares of the construction company's stock valued at $245,000 after buying an additional 708 shares in the last quarter. American Century Companies Inc. increased its stake in Tri Pointe Homes by 14.0% during the 4th quarter. American Century Companies Inc. now owns 1,946,471 shares of the construction company's stock worth $70,579,000 after purchasing an additional 238,807 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in Tri Pointe Homes during the 4th quarter worth approximately $936,000. Vanguard Group Inc. increased its position in shares of Tri Pointe Homes by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 11,573,813 shares of the construction company's stock worth $419,666,000 after acquiring an additional 143,365 shares in the last quarter. Finally, EFG Asset Management North America Corp. increased its position in shares of Tri Pointe Homes by 58.8% during the fourth quarter. EFG Asset Management North America Corp. now owns 73,844 shares of the construction company's stock worth $2,677,000 after acquiring an additional 27,336 shares in the last quarter. Institutional investors own 97.01% of the company's stock.
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.
Further Reading
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