Tri Pointe Homes (NYSE:TPH) Given “Neutral” Rating at Wedbush

Wedbush reaffirmed their neutral rating on shares of Tri Pointe Homes (NYSE:TPH) in a report released on Thursday morning, Benzinga reports. They currently have a $35.00 price objective on the construction company’s stock.

Several other research firms also recently commented on TPH. Royal Bank of Canada upgraded Tri Pointe Homes from a sector perform rating to an outperform rating and set a $38.00 price objective on the stock in a report on Wednesday, March 13th. Oppenheimer reiterated an outperform rating and set a $41.00 target price (up previously from $36.00) on shares of Tri Pointe Homes in a report on Wednesday, February 21st. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $38.80.

Tri Pointe Homes Stock Performance

Shares of TPH stock opened at $36.80 on Thursday. The firm has a market cap of $3.51 billion, a price-to-earnings ratio of 10.67, a P/E/G ratio of 0.76 and a beta of 1.54. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.11 and a current ratio of 2.11. Tri Pointe Homes has a 52 week low of $24.18 and a 52 week high of $39.08. The firm’s 50-day simple moving average is $35.73 and its two-hundred day simple moving average is $32.86.

Tri Pointe Homes (NYSE:TPH) last posted its earnings results on Tuesday, February 20th. The construction company reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.24. Tri Pointe Homes had a return on equity of 11.75% and a net margin of 9.37%. The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the prior year, the business posted $1.98 earnings per share. The business’s quarterly revenue was down 17.5% on a year-over-year basis. As a group, equities analysts forecast that Tri Pointe Homes will post 3.65 earnings per share for the current year.

Insider Buying and Selling

In other Tri Pointe Homes news, COO Thomas J. Mitchell sold 51,533 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $35.22, for a total transaction of $1,814,992.26. Following the sale, the chief operating officer now directly owns 785,543 shares of the company’s stock, valued at $27,666,824.46. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of TPH. Daiwa Securities Group Inc. bought a new position in Tri Pointe Homes in the fourth quarter worth approximately $35,000. Evermay Wealth Management LLC acquired a new position in shares of Tri Pointe Homes during the fourth quarter worth $35,000. Ronald Blue Trust Inc. grew its holdings in shares of Tri Pointe Homes by 168.1% during the third quarter. Ronald Blue Trust Inc. now owns 1,016 shares of the construction company’s stock valued at $28,000 after buying an additional 637 shares during the last quarter. GAMMA Investing LLC purchased a new stake in shares of Tri Pointe Homes during the fourth quarter valued at $41,000. Finally, Assetmark Inc. boosted its holdings in Tri Pointe Homes by 29,825.0% in the fourth quarter. Assetmark Inc. now owns 1,197 shares of the construction company’s stock valued at $42,000 after purchasing an additional 1,193 shares during the last quarter. Hedge funds and other institutional investors own 97.01% of the company’s stock.

Tri Pointe Homes Company Profile

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.