Wedbush assumed coverage on shares of Tri Pointe Homes Inc. (NYSE:TPH) in a research note released on Monday. The firm issued an outperform rating and a $17.00 price target on the stock.

Analyst Recommendations for Tri Pointe Homes (NYSE:TPH)

Other equities research analysts also recently issued research reports about the company. Zacks Investment Research upgraded Tri Pointe Homes from a hold rating to a buy rating and set a $15.00 price objective on the stock in a report on Saturday, July 30th. Citigroup Inc. boosted their price objective on Tri Pointe Homes from $15.00 to $17.00 and gave the company a buy rating in a report on Friday, July 29th. TheStreet upgraded Tri Pointe Homes from a sell rating to a hold rating in a report on Wednesday, June 22nd. Finally, FBR & Co boosted their price objective on Tri Pointe Homes from $15.00 to $17.00 and gave the company an outperform rating in a report on Thursday, July 28th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Tri Pointe Homes presently has an average rating of Buy and an average price target of $15.79.

Shares of Tri Pointe Homes (NYSE:TPH) opened at 12.83 on Monday. The firm has a 50-day moving average price of $13.34 and a 200-day moving average price of $12.30. The stock has a market capitalization of $2.06 billion, a PE ratio of 8.73 and a beta of 1.61. Tri Pointe Homes has a 1-year low of $8.83 and a 1-year high of $14.60.

Tri Pointe Homes (NYSE:TPH) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.18. The firm had revenue of $556.93 million for the quarter, compared to the consensus estimate of $545.23 million. Tri Pointe Homes had a return on equity of 14.02% and a net margin of 9.23%. The company’s quarterly revenue was up 30.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.34 EPS. On average, equities research analysts forecast that Tri Pointe Homes will post $1.27 earnings per share for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. LS Investment Advisors LLC boosted its position in Tri Pointe Homes by 65.8% in the second quarter. LS Investment Advisors LLC now owns 8,974 shares of the company’s stock valued at $106,000 after buying an additional 3,563 shares during the last quarter. Bayesian Capital Management LP bought a new position in Tri Pointe Homes during the first quarter valued at approximately $118,000. Nuveen Fund Advisors LLC bought a new position in Tri Pointe Homes during the second quarter valued at approximately $119,000. HBK Investments L P bought a new position in Tri Pointe Homes during the first quarter valued at approximately $134,000. Finally, AQR Capital Management LLC bought a new position in Tri Pointe Homes during the second quarter valued at approximately $139,000. 98.27% of the stock is owned by hedge funds and other institutional investors.

About Tri Pointe Homes

TRI Pointe Group, Inc is a homebuilder company. The Company’s operations are organized in two principal businesses, including homebuilding and financial services. The Company’s homebuilding operation consists of six segments: Maracay Homes, including operations in Arizona; Pardee Homes, consisting of operations in California and Nevada; Quadrant Homes, consisting of operations in Washington; Trendmaker Homes, consisting of operations in Texas; TRI Pointe Homes, consisting of operations in California and Colorado, and Winchester Homes, consisting of operations in Maryland and Virginia.

5 Day Chart for NYSE:TPH

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