Cibc World Markets Corp Buys Shares of 8,628 Tri Pointe Homes, Inc. (NYSE:TPH)

Cibc World Markets Corp purchased a new position in Tri Pointe Homes, Inc. (NYSE:TPH) during the fourth quarter, HoldingsChannel reports. The firm purchased 8,628 shares of the construction company’s stock, valued at approximately $313,000.

Several other large investors also recently modified their holdings of the company. HighTower Advisors LLC purchased a new position in Tri Pointe Homes in the fourth quarter worth about $5,553,000. Geode Capital Management LLC boosted its holdings in shares of Tri Pointe Homes by 3.2% in the third quarter. Geode Capital Management LLC now owns 2,485,663 shares of the construction company’s stock worth $112,644,000 after buying an additional 76,830 shares during the last quarter. Principal Financial Group Inc. grew its position in Tri Pointe Homes by 3.5% during the fourth quarter. Principal Financial Group Inc. now owns 486,100 shares of the construction company’s stock valued at $17,626,000 after buying an additional 16,380 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in Tri Pointe Homes by 404.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 43,849 shares of the construction company’s stock valued at $1,987,000 after buying an additional 35,162 shares during the last quarter. Finally, New York State Teachers Retirement System raised its position in Tri Pointe Homes by 15.3% in the fourth quarter. New York State Teachers Retirement System now owns 67,505 shares of the construction company’s stock worth $2,448,000 after acquiring an additional 8,948 shares during the period. Institutional investors own 97.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Wedbush reissued a “neutral” rating and set a $38.00 price objective (down previously from $44.00) on shares of Tri Pointe Homes in a research report on Tuesday, February 18th. 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 research report on Wednesday, February 19th. Oppenheimer cut their price objective on Tri Pointe Homes from $53.00 to $43.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. StockNews.com lowered shares of Tri Pointe Homes from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. Finally, Royal Bank of Canada downgraded shares of Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from $41.00 to $37.00 in a report on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Tri Pointe Homes presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.60.

Tri Pointe Homes Stock Up 3.2 %

NYSE TPH opened at $32.42 on Tuesday. Tri Pointe Homes, Inc. has a 12 month low of $30.25 and a 12 month high of $47.78. The company has a current ratio of 2.24, a quick ratio of 1.64 and a debt-to-equity ratio of 0.28. The stock has a market cap of $2.97 billion, a PE ratio of 6.71, a P/E/G ratio of 0.67 and a beta of 1.71. The stock’s 50 day moving average is $34.24 and its 200 day moving average is $38.93.

Tri Pointe Homes (NYSE:TPH) last released its earnings results on Tuesday, February 18th. The construction company reported $1.37 EPS for the quarter, topping the consensus estimate of $1.30 by $0.07. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.22 billion. Tri Pointe Homes had a net margin of 10.36% and a return on equity of 14.34%. Research analysts predict that Tri Pointe Homes, Inc. will post 3.58 EPS for the current fiscal year.

Tri Pointe Homes declared that its Board of Directors has authorized a share buyback plan on Wednesday, December 18th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the construction company to reacquire up to 7.3% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

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.