TRI Pointe Group, Inc. (TPH) Given “Outperform” Rating at Wedbush
Wedbush reissued their outperform rating on shares of TRI Pointe Group, Inc. (NYSE:TPH) in a research note issued to investors on Friday morning. Wedbush currently has a $16.00 price objective on the construction company’s stock, down from their previous price objective of $18.00. Wedbush also issued estimates for TRI Pointe Group’s Q4 2017 earnings at $0.63 EPS, FY2017 earnings at $1.35 EPS, Q1 2018 earnings at $0.18 EPS, Q2 2018 earnings at $0.31 EPS, Q3 2018 earnings at $0.35 EPS, Q4 2018 earnings at $0.70 EPS and FY2018 earnings at $1.53 EPS.
Several other analysts have also recently issued reports on TPH. BidaskClub raised shares of TRI Pointe Group from a hold rating to a buy rating in a research report on Saturday, July 1st. Barclays PLC cut shares of TRI Pointe Group from an overweight rating to an equal weight rating and set a $14.00 price target on the stock. in a research report on Tuesday, July 11th. TheStreet upgraded shares of TRI Pointe Group from a c rating to a b- rating in a research note on Monday, July 10th. Zacks Investment Research upgraded shares of TRI Pointe Group from a hold rating to a buy rating and set a $15.00 target price on the stock in a research note on Wednesday, July 19th. Finally, Citigroup Inc. lowered shares of TRI Pointe Group from a buy rating to a neutral rating and set a $15.00 target price on the stock. in a research note on Thursday, July 27th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $14.13.
Shares of TRI Pointe Group (TPH) traded up 1.70% on Friday, hitting $15.54. 2,456,985 shares of the stock were exchanged. The company’s 50 day moving average is $13.68 and its 200-day moving average is $13.07. TRI Pointe Group has a 52-week low of $10.35 and a 52-week high of $15.64. The stock has a market cap of $2.35 billion, a PE ratio of 18.46 and a beta of 1.68.
TRI Pointe Group (NYSE:TPH) last issued its quarterly earnings results on Wednesday, July 26th. The construction company reported $0.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.01. The business had revenue of $568.80 million for the quarter, compared to analysts’ expectations of $563.72 million. TRI Pointe Group had a net margin of 5.77% and a return on equity of 7.32%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.46 earnings per share. Analysts predict that TRI Pointe Group will post $1.33 EPS for the current fiscal year.
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TRI Pointe Group announced that its board has authorized a share buyback program on Wednesday, July 26th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the construction company to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.
In related news, CFO Michael D. Grubbs sold 300,000 shares of the company’s stock in a transaction that occurred on Thursday, October 19th. The shares were sold at an average price of $15.02, for a total transaction of $4,506,000.00. Following the sale, the chief financial officer now directly owns 163,828 shares in the company, valued at $2,460,696.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 9.40% of the stock is currently owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. purchased a new stake in shares of TRI Pointe Group during the third quarter worth approximately $923,000. Quantitative Systematic Strategies LLC purchased a new position in TRI Pointe Group in the third quarter valued at approximately $202,000. Leith Wheeler Investment Counsel Ltd. increased its stake in TRI Pointe Group by 30.7% in the third quarter. Leith Wheeler Investment Counsel Ltd. now owns 163,115 shares of the construction company’s stock valued at $1,999,000 after purchasing an additional 38,320 shares during the last quarter. WINTON GROUP Ltd purchased a new position in TRI Pointe Group in the second quarter valued at approximately $1,599,000. Finally, Ameritas Investment Partners Inc. increased its stake in TRI Pointe Group by 7.9% in the second quarter. Ameritas Investment Partners Inc. now owns 152,471 shares of the construction company’s stock valued at $2,010,000 after purchasing an additional 11,156 shares during the last quarter.
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.
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