Wedbush Reiterates Outperform Rating for TRI Pointe Group, Inc. (TPH)
TRI Pointe Group, Inc. (NYSE:TPH)‘s stock had its “outperform” rating reaffirmed by investment analysts at Wedbush in a research note issued on Friday. They currently have a $16.00 target price on the construction company’s stock, down from their previous target price of $18.00. Wedbush’s price objective suggests a potential upside of 2.96% from the company’s previous close. Wedbush also issued estimates for TRI Pointe Group’s Q4 2017 earnings at $0.63 EPS, FY2017 earnings at $1.35 EPS, Q1 2018 earnings at $0.18 EPS, Q2 2018 earnings at $0.31 EPS, Q3 2018 earnings at $0.35 EPS, Q4 2018 earnings at $0.70 EPS and FY2018 earnings at $1.53 EPS.
Other equities analysts have also issued research reports about the stock. TheStreet raised shares of TRI Pointe Group from a “c” rating to a “b-” rating in a research report on Monday, July 10th. Zacks Investment Research raised shares of TRI Pointe Group from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research report on Thursday, August 3rd. BidaskClub lowered shares of TRI Pointe Group from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Citigroup Inc. lowered shares of TRI Pointe Group from a “buy” rating to a “neutral” rating and set a $15.00 price objective for the company. in a research report on Thursday, July 27th. Finally, Barclays PLC lowered shares of TRI Pointe Group from an “overweight” rating to an “equal weight” rating and set a $14.00 price objective for the company. in a research report on Tuesday, July 11th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $14.13.
Shares of TRI Pointe Group (NYSE TPH) opened at 15.54 on Friday. TRI Pointe Group has a 1-year low of $10.35 and a 1-year high of $15.64. The stock has a market cap of $2.35 billion, a PE ratio of 18.46 and a beta of 1.68. The stock has a 50 day moving average of $13.68 and a 200 day moving average of $13.07.
TRI Pointe Group (NYSE:TPH) last posted its quarterly earnings data on Wednesday, July 26th. The construction company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 5.77% and a return on equity of 7.32%. The company’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.46 earnings per share. Equities research analysts forecast that TRI Pointe Group will post $1.33 EPS for the current year.
TRI Pointe Group announced that its board has initiated a share repurchase plan on Wednesday, July 26th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the construction company to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
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In related news, CFO Michael D. Grubbs sold 300,000 shares of the business’s stock in a transaction that occurred on Thursday, October 19th. The shares were sold at an average price of $15.02, for a total value of $4,506,000.00. Following the completion of the sale, the chief financial officer now directly owns 163,828 shares in the company, valued at $2,460,696.56. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 9.40% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. World Asset Management Inc purchased a new stake in TRI Pointe Group in the second quarter valued at approximately $132,000. Shelton Capital Management purchased a new stake in TRI Pointe Group in the second quarter valued at approximately $146,000. Cornerstone Financial Partners LLC purchased a new stake in TRI Pointe Group in the second quarter valued at approximately $148,000. Riverhead Capital Management LLC grew its holdings in TRI Pointe Group by 89.9% in the second quarter. Riverhead Capital Management LLC now owns 12,720 shares of the construction company’s stock valued at $168,000 after purchasing an additional 6,020 shares during the period. Finally, Teacher Retirement System of Texas grew its holdings 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 valued at $168,000 after purchasing an additional 725 shares during the period.
TRI Pointe Group Company Profile
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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