TRI Pointe Group Inc (NYSE:TPH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday. The firm presently has a $15.00 price target on the construction company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 10.13% from the company’s current price.

According to Zacks, “TRI Pointe Group, Inc. is involved in the design, construction and sale of single-family homes. The company’s operating portfolio includes Maracay Homes in Arizona; Pardee Homes in California and Nevada; Quadrant Homes in Washington; Trendmaker Homes in Texas; TRI Pointe Homes in California and Colorado; and Winchester Homes in Maryland and Virginia. TRI Pointe Group, Inc., formerly known as Tri Pointe Homes, Inc., is headquartered in Irvine, California. “

A number of other research firms have also weighed in on TPH. BidaskClub lowered TRI Pointe Group from a “hold” rating to a “sell” rating in a report on Saturday, June 10th. Barclays PLC downgraded TRI Pointe Group from an “overweight” rating to an “equal weight” rating and set a $14.00 price target for the company. in a research report on Tuesday, July 11th. TheStreet upgraded TRI Pointe Group from a “c” rating to a “b-” rating in a research report on Monday, July 10th. ValuEngine downgraded TRI Pointe Group from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Citigroup Inc. downgraded TRI Pointe Group from a “buy” rating to a “neutral” rating and set a $15.00 price target for the company. in a research report on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $14.13.

TRI Pointe Group (NYSE:TPH) traded up 1.04% on Thursday, hitting $13.62. 1,093,347 shares of the stock were exchanged. The company has a 50-day moving average price of $13.23 and a 200-day moving average price of $12.61. TRI Pointe Group has a 52-week low of $10.35 and a 52-week high of $14.21. The firm has a market cap of $2.06 billion, a PE ratio of 16.18 and a beta of 1.66.

TRI Pointe Group (NYSE:TPH) last posted its earnings results on Wednesday, July 26th. The construction company reported $0.21 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.01. The business had revenue of $568.80 million during the quarter, compared to analyst estimates of $563.72 million. TRI Pointe Group had a return on equity of 7.26% and a net margin of 5.75%. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.46 EPS. On average, equities research analysts anticipate that TRI Pointe Group will post $1.35 EPS for the current fiscal year.

TRI Pointe Group announced that its Board of Directors has initiated a share buyback plan on Wednesday, July 26th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the construction company to reacquire shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

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Several hedge funds have recently modified their holdings of TPH. Meadow Creek Investment Management LLC increased its stake in shares of TRI Pointe Group by 26.8% in the first quarter. Meadow Creek Investment Management LLC now owns 9,180 shares of the construction company’s stock worth $115,000 after buying an additional 1,938 shares during the period. World Asset Management Inc purchased a new stake in TRI Pointe Group during the second quarter worth $132,000. 1st Global Advisors Inc. increased its stake in TRI Pointe Group by 9.8% in the first quarter. 1st Global Advisors Inc. now owns 11,008 shares of the construction company’s stock worth $138,000 after buying an additional 984 shares during the last quarter. Cornerstone Financial Partners LLC purchased a new stake in TRI Pointe Group during the second quarter worth $148,000. Finally, Teacher Retirement System of Texas increased its stake in TRI Pointe Group by 6.0% in the second quarter. Teacher Retirement System of Texas now owns 12,729 shares of the construction company’s stock worth $168,000 after buying an additional 725 shares during the last quarter. Hedge funds and other institutional investors own 98.68% of the company’s stock.

About TRI Pointe Group

TRI Pointe Group, Inc is a homebuilder company. The Company’s operations are organized in two principal businesses, including homebuilding and financial services. Its 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.

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Analyst Recommendations for TRI Pointe Group (NYSE:TPH)

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