Wedbush Reiterates Neutral Rating for Tri Pointe Homes (NYSE:TPH)

Tri Pointe Homes (NYSE:TPH)‘s stock had its “neutral” rating reiterated by analysts at Wedbush in a research note issued on Tuesday,RTT News reports. They currently have a $38.00 target price on the construction company’s stock, down from their prior target price of $44.00. Wedbush’s target price would indicate a potential upside of 23.08% from the stock’s current price.

A number of other research analysts also recently weighed in on TPH. StockNews.com downgraded Tri Pointe Homes from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. Royal Bank of Canada lowered their target price on Tri Pointe Homes from $48.00 to $45.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Finally, Oppenheimer dropped their target price on Tri Pointe Homes from $56.00 to $53.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Tri Pointe Homes has a consensus rating of “Hold” and a consensus target price of $40.60.

Tri Pointe Homes Stock Performance

Shares of TPH opened at $30.88 on Tuesday. The company has a 50-day moving average of $36.69 and a two-hundred day moving average of $40.76. The stock has a market cap of $2.89 billion, a price-to-earnings ratio of 6.41, a PEG ratio of 0.58 and a beta of 1.64. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.64 and a quick ratio of 1.64. Tri Pointe Homes has a one year low of $30.67 and a one year high of $47.78.

Tri Pointe Homes (NYSE:TPH) last issued its quarterly earnings results on Tuesday, February 18th. The construction company reported $1.37 EPS for the quarter, beating the consensus estimate of $1.30 by $0.07. Tri Pointe Homes had a net margin of 10.41% and a return on equity of 14.83%. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.22 billion. On average, equities research analysts expect that Tri Pointe Homes will post 4.72 earnings per share for the current year.

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

Insiders Place Their Bets

In other Tri Pointe Homes news, COO Thomas J. Mitchell sold 77,384 shares of Tri Pointe Homes stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $39.15, for a total value of $3,029,583.60. Following the completion of the sale, the chief operating officer now directly owns 708,159 shares in the company, valued at $27,724,424.85. The trade was a 9.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of TPH. PharVision Advisers LLC acquired a new position in Tri Pointe Homes during the fourth quarter worth $242,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Tri Pointe Homes by 20.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 284,527 shares of the construction company’s stock worth $10,317,000 after acquiring an additional 48,857 shares in the last quarter. Voloridge Investment Management LLC increased its holdings in shares of Tri Pointe Homes by 44.9% during the 4th quarter. Voloridge Investment Management LLC now owns 495,976 shares of the construction company’s stock valued at $17,984,000 after acquiring an additional 153,758 shares during the last quarter. Squarepoint Ops LLC bought a new position in shares of Tri Pointe Homes in the 4th quarter valued at approximately $1,130,000. Finally, Two Sigma Advisers LP lifted its holdings in Tri Pointe Homes by 11.2% in the 4th quarter. Two Sigma Advisers LP now owns 629,400 shares of the construction company’s stock worth $22,822,000 after purchasing an additional 63,300 shares during the last quarter. 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.