Barclays PLC cut shares of TRI Pointe Group, Inc. (NYSE:TPH) from an overweight rating to an equal weight rating in a research note issued to investors on Tuesday, July 11th, Marketbeat reports. They currently have $14.00 target price on the construction company’s stock.

Other research analysts have also recently issued research reports about the company. BidaskClub upgraded TRI Pointe Group from a hold rating to a buy rating in a research report on Saturday, July 1st. ValuEngine cut TRI Pointe Group from a buy rating to a hold rating in a research report on Friday, June 2nd. Zacks Investment Research upgraded TRI Pointe Group from a sell rating to a hold rating in a research report on Tuesday, May 2nd. Finally, Wedbush reiterated an outperform rating and issued a $16.00 price objective on shares of TRI Pointe Group in a research report on Sunday, April 2nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $14.13.

TRI Pointe Group (NYSE:TPH) traded up 0.44% during midday trading on Tuesday, reaching $13.68. 1,229,925 shares of the company were exchanged. The company has a 50 day moving average of $13.23 and a 200-day moving average of $12.61. TRI Pointe Group has a 52-week low of $10.35 and a 52-week high of $14.21. The company has a market capitalization of $2.07 billion, a price-to-earnings ratio of 16.25 and a beta of 1.66.

TRI Pointe Group (NYSE:TPH) last released its quarterly earnings results on Wednesday, July 26th. The construction company reported $0.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.01. The business had revenue of $568.80 million during the quarter, compared to analysts’ expectations of $563.72 million. TRI Pointe Group had a return on equity of 7.32% and a net margin of 5.77%. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.46 earnings per share. On average, equities research analysts anticipate that TRI Pointe Group will post $1.35 earnings per share for the current fiscal year.

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TRI Pointe Group declared that its Board of Directors has authorized a share repurchase plan on Wednesday, July 26th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the construction company to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Several hedge funds and other institutional investors have recently made changes to their positions in TPH. BlackRock Inc. boosted its position in shares of TRI Pointe Group by 19,738.7% in the first quarter. BlackRock Inc. now owns 18,584,658 shares of the construction company’s stock worth $233,053,000 after buying an additional 18,490,979 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of TRI Pointe Group by 11.3% in the first quarter. Dimensional Fund Advisors LP now owns 13,364,467 shares of the construction company’s stock worth $167,592,000 after buying an additional 1,359,721 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its stake in TRI Pointe Group by 3.2% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 13,067,282 shares of the construction company’s stock worth $163,864,000 after buying an additional 402,130 shares during the last quarter. Vanguard Group Inc. raised its stake in TRI Pointe Group by 9.5% in the first quarter. Vanguard Group Inc. now owns 12,010,583 shares of the construction company’s stock worth $150,613,000 after buying an additional 1,041,363 shares during the last quarter. Finally, State Street Corp raised its stake in TRI Pointe Group by 5.6% in the first quarter. State Street Corp now owns 5,866,876 shares of the construction company’s stock worth $73,571,000 after buying an additional 311,836 shares during the last quarter. Institutional investors and hedge funds own 98.68% of the company’s stock.

About TRI Pointe Group

TRI Pointe Group, Inc is a homebuilder company. The Company’s operations are organized in two principal businesses, including homebuilding and financial services. Its homebuilding operation consists of six segments: Maracay Homes, including operations in Arizona; Pardee Homes, consisting of operations in California and Nevada; Quadrant Homes, consisting of operations in Washington; Trendmaker Homes, consisting of operations in Texas; TRI Pointe Homes, consisting of operations in California and Colorado, and Winchester Homes, consisting of operations in Maryland and Virginia.

Analyst Recommendations for TRI Pointe Group (NYSE:TPH)

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