Brokerages Set Tri Pointe Homes, Inc. (NYSE:TPH) Target Price at $44.75

Shares of Tri Pointe Homes, Inc. (NYSE:TPH) have earned a consensus recommendation of “Hold” from the five analysts that are presently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is $40.60.

TPH has been the subject of a number of recent research reports. Wedbush reiterated a “neutral” rating and issued a $38.00 target price (down from $44.00) on shares of Tri Pointe Homes in a report on Tuesday. Evercore ISI decreased their target price on Tri Pointe Homes from $54.00 to $42.00 and set an “outperform” rating for the company in a report on Wednesday. StockNews.com lowered Tri Pointe Homes from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. Oppenheimer decreased their target price on Tri Pointe Homes from $53.00 to $43.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, Royal Bank of Canada downgraded Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $41.00 to $37.00 in a report on Wednesday.

Insiders Place Their Bets

In other news, COO Thomas J. Mitchell sold 77,384 shares of Tri Pointe Homes stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $39.15, for a total transaction of $3,029,583.60. Following the sale, the chief operating officer now owns 708,159 shares in the company, valued at approximately $27,724,424.85. The trade was a 9.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tri Pointe Homes

Several institutional investors have recently added to or reduced their stakes in TPH. Vanguard Group Inc. increased its position in Tri Pointe Homes by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 11,573,813 shares of the construction company’s stock worth $419,666,000 after purchasing an additional 143,365 shares during the period. Pacer Advisors Inc. acquired a new position in Tri Pointe Homes during the 4th quarter worth approximately $118,407,000. Geode Capital Management LLC increased its position in Tri Pointe Homes by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 2,529,823 shares of the construction company’s stock worth $91,748,000 after purchasing an additional 44,160 shares during the period. GW&K Investment Management LLC increased its position in Tri Pointe Homes by 5.3% during the 4th quarter. GW&K Investment Management LLC now owns 2,036,689 shares of the construction company’s stock worth $73,850,000 after purchasing an additional 102,187 shares during the period. Finally, American Century Companies Inc. increased its position in Tri Pointe Homes by 14.0% during the 4th quarter. American Century Companies Inc. now owns 1,946,471 shares of the construction company’s stock worth $70,579,000 after purchasing an additional 238,807 shares during the period. Institutional investors and hedge funds own 97.01% of the company’s stock.

Tri Pointe Homes Trading Down 1.6 %

Shares of NYSE TPH opened at $30.79 on Wednesday. Tri Pointe Homes has a twelve month low of $30.25 and a twelve 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 fifty day simple moving average of $36.32 and a 200-day simple moving average of $40.63. The stock has a market capitalization of $2.88 billion, a PE ratio of 6.37, a PEG ratio of 0.49 and a beta of 1.64.

Tri Pointe Homes (NYSE:TPH) last issued its quarterly earnings data on Tuesday, February 18th. The construction company reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.07. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Tri Pointe Homes had a return on equity of 14.34% and a net margin of 10.36%. On average, equities analysts forecast that Tri Pointe Homes will post 4.8 earnings per share for the current year.

Tri Pointe Homes announced that its Board of Directors has initiated a share buyback program on Wednesday, December 18th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the construction company to purchase up to 7.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors 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.