Analysts Set Tri Pointe Homes, Inc. (NYSE:TPH) Price Target at $40.60

Tri Pointe Homes, Inc. (NYSE:TPH) has been given a consensus rating of “Moderate Buy” by the six analysts that are currently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $40.60.

TPH has been the topic of several analyst reports. StockNews.com downgraded shares of Tri Pointe Homes from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Evercore ISI reduced their price target on Tri Pointe Homes from $54.00 to $42.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. Oppenheimer dropped their price objective on Tri Pointe Homes from $53.00 to $43.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. Royal Bank of Canada lowered Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $41.00 to $37.00 in a research report on Wednesday, February 19th. Finally, Wedbush restated a “neutral” rating and issued a $38.00 price target (down previously from $44.00) on shares of Tri Pointe Homes in a research note on Tuesday, February 18th.

Hedge Funds Weigh In On Tri Pointe Homes

Several large investors have recently added to or reduced their stakes in TPH. Covestor Ltd increased its stake in Tri Pointe Homes by 58.5% during the fourth quarter. Covestor Ltd now owns 908 shares of the construction company’s stock valued at $33,000 after purchasing an additional 335 shares during the last quarter. Smartleaf Asset Management LLC grew its position in shares of Tri Pointe Homes by 84.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,339 shares of the construction company’s stock valued at $49,000 after buying an additional 613 shares during the last quarter. Assetmark Inc. raised its stake in Tri Pointe Homes by 19.6% during the fourth quarter. Assetmark Inc. now owns 1,827 shares of the construction company’s stock worth $66,000 after acquiring an additional 300 shares during the period. Sterling Capital Management LLC raised its stake in Tri Pointe Homes by 729.5% during the fourth quarter. Sterling Capital Management LLC now owns 2,082 shares of the construction company’s stock worth $75,000 after acquiring an additional 1,831 shares during the period. Finally, Venturi Wealth Management LLC lifted its holdings in Tri Pointe Homes by 562.1% in the fourth quarter. Venturi Wealth Management LLC now owns 2,238 shares of the construction company’s stock worth $81,000 after acquiring an additional 1,900 shares during the last quarter. 97.01% of the stock is currently owned by institutional investors.

Tri Pointe Homes Price Performance

Tri Pointe Homes stock opened at $31.35 on Friday. The company has a quick ratio of 1.64, a current ratio of 2.24 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $2.88 billion, a P/E ratio of 6.49, a PEG ratio of 0.67 and a beta of 1.71. The firm has a fifty day moving average of $34.49 and a 200-day moving average of $39.25. Tri Pointe Homes has a 52-week low of $30.25 and a 52-week high of $47.78.

Tri Pointe Homes (NYSE:TPH) last issued its quarterly earnings data on Tuesday, February 18th. The construction company reported $1.37 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.07. Tri Pointe Homes had a return on equity of 14.34% and a net margin of 10.36%. The company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.22 billion. As a group, analysts predict that Tri Pointe Homes will post 3.58 EPS for the current year.

Tri Pointe Homes announced that its Board of Directors has authorized a share buyback plan on Wednesday, December 18th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the construction company to purchase up to 7.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

About Tri Pointe Homes

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.