Brokerages Set Tri Pointe Homes Inc. (NYSE:TPH) Target Price at $40.80

Shares of Tri Pointe Homes Inc. (NYSE:TPH) have earned an average rating of “Moderate Buy” from the seven research firms that are presently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $40.80.

TPH has been the topic of a number of research reports. Wall Street Zen lowered shares of Tri Pointe Homes from a “hold” rating to a “sell” rating in a research note on Saturday, July 26th. Wedbush reaffirmed an “outperform” rating and issued a $43.00 price target on shares of Tri Pointe Homes in a research note on Friday, July 25th. Wolfe Research lowered shares of Tri Pointe Homes from an “outperform” rating to a “peer perform” rating in a research note on Sunday, July 27th. Finally, Evercore ISI decreased their price target on shares of Tri Pointe Homes from $39.00 to $38.00 and set an “outperform” rating on the stock in a research note on Friday, July 25th.

Tri Pointe Homes Trading Down 0.2%

TPH stock opened at $35.03 on Wednesday. The company’s 50-day simple moving average is $32.49 and its 200-day simple moving average is $32.01. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.28. Tri Pointe Homes has a 52-week low of $27.90 and a 52-week high of $46.91. The firm has a market cap of $3.18 billion, a P/E ratio of 8.91, a PEG ratio of 0.95 and a beta of 1.22.

Tri Pointe Homes (NYSE:TPH) last issued its quarterly earnings results on Thursday, July 24th. The construction company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.11. The firm had revenue of $884.01 million for the quarter, compared to analyst estimates of $810.77 million. Tri Pointe Homes had a net margin of 9.22% and a return on equity of 11.33%. Tri Pointe Homes’s quarterly revenue was down 22.3% compared to the same quarter last year. During the same period last year, the company posted $1.25 EPS. As a group, equities analysts forecast that Tri Pointe Homes will post 3.58 EPS for the current fiscal year.

Tri Pointe Homes declared that its board has authorized a share buyback program on Thursday, July 24th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the construction company to purchase up to 1.6% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC lifted its stake in Tri Pointe Homes by 388.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 8,884 shares of the construction company’s stock worth $284,000 after purchasing an additional 7,065 shares in the last quarter. Corient Private Wealth LLC acquired a new stake in shares of Tri Pointe Homes during the 2nd quarter worth approximately $202,000. Captrust Financial Advisors increased its holdings in shares of Tri Pointe Homes by 105.5% during the 2nd quarter. Captrust Financial Advisors now owns 15,892 shares of the construction company’s stock worth $508,000 after buying an additional 8,159 shares during the last quarter. Vident Advisory LLC increased its holdings in shares of Tri Pointe Homes by 5.0% during the 2nd quarter. Vident Advisory LLC now owns 20,810 shares of the construction company’s stock worth $665,000 after buying an additional 993 shares during the last quarter. Finally, Shay Capital LLC acquired a new stake in shares of Tri Pointe Homes during the 2nd quarter worth approximately $383,000. 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.