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

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

Several research firms have recently commented on TPH. Evercore ISI lowered their price target on shares of 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. Royal Bank of Canada lowered 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. Wedbush reaffirmed a “neutral” rating and issued a $38.00 price objective (down previously from $44.00) on shares of Tri Pointe Homes in a report on Tuesday, February 18th. Oppenheimer lowered their target price on shares of Tri Pointe Homes from $53.00 to $43.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. Finally, Seaport Res Ptn raised shares of Tri Pointe Homes from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 6th.

Tri Pointe Homes Price Performance

TPH opened at $29.17 on Thursday. 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 company’s 50-day moving average price is $32.24 and its 200 day moving average price is $37.56. Tri Pointe Homes has a fifty-two week low of $27.90 and a fifty-two week high of $47.78. The firm has a market cap of $2.68 billion, a price-to-earnings ratio of 6.04, a price-to-earnings-growth ratio of 0.67 and a beta of 1.44.

Tri Pointe Homes (NYSE:TPH) last announced its quarterly earnings results on Tuesday, February 18th. The construction company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.07. The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.22 billion. Tri Pointe Homes had a return on equity of 14.34% and a net margin of 10.36%. As a group, sell-side analysts expect that Tri Pointe Homes will post 3.58 earnings per share for the current year.

Tri Pointe Homes announced that its board has authorized a stock repurchase program on Wednesday, December 18th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the construction company to repurchase up to 7.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On Tri Pointe Homes

Several hedge funds have recently modified their holdings of the stock. O Keefe Stevens Advisory Inc. boosted its stake in Tri Pointe Homes by 3.9% in the 1st quarter. O Keefe Stevens Advisory Inc. now owns 248,584 shares of the construction company’s stock worth $7,935,000 after purchasing an additional 9,398 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Tri Pointe Homes by 3,491.2% in the first quarter. GAMMA Investing LLC now owns 63,457 shares of the construction company’s stock valued at $1,988,000 after purchasing an additional 61,690 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Tri Pointe Homes in the fourth quarter worth $6,380,000. Mackenzie Financial Corp grew its holdings in shares of Tri Pointe Homes by 129.1% during the fourth quarter. Mackenzie Financial Corp now owns 51,968 shares of the construction company’s stock valued at $1,884,000 after buying an additional 29,281 shares in the last quarter. Finally, Castlekeep Investment Advisors LLC acquired a new position in Tri Pointe Homes during the fourth quarter valued at $1,642,000. 97.01% of the stock is owned by hedge funds and other institutional investors.

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.