TRI Pointe Group (TPH) Upgraded by Zacks Investment Research to Buy
Zacks Investment Research upgraded shares of TRI Pointe Group (NYSE:TPH) from a hold rating to a buy rating in a research note issued to investors on Saturday. The firm currently has $21.00 target price on the construction company’s stock.
According to Zacks, “TRI Pointe Group, Inc. is involved in the design, construction and sale of single-family homes. The company’s operating portfolio includes Maracay Homes in Arizona; Pardee Homes in California and Nevada; Quadrant Homes in Washington; Trendmaker Homes in Texas; TRI Pointe Homes in California and Colorado; and Winchester Homes in Maryland and Virginia. TRI Pointe Group, Inc., formerly known as Tri Pointe Homes, Inc., is headquartered in Irvine, California. “
A number of other equities analysts also recently commented on TPH. B. Riley restated a buy rating on shares of TRI Pointe Group in a report on Wednesday, November 1st. Wedbush raised their price objective on TRI Pointe Group from $19.00 to $21.00 and gave the stock an outperform rating in a report on Friday, December 29th. ValuEngine upgraded TRI Pointe Group from a buy rating to a strong-buy rating in a report on Sunday, December 31st. Barclays upgraded TRI Pointe Group from an equal weight rating to an overweight rating and raised their target price for the company from $17.00 to $21.00 in a report on Friday. Finally, FBR & Co reiterated a buy rating and set a $20.00 target price on shares of TRI Pointe Group in a report on Thursday, October 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of Buy and an average target price of $18.22.
TRI Pointe Group (NYSE:TPH) last released its quarterly earnings data on Wednesday, October 25th. The construction company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.03. The company had revenue of $717.40 million for the quarter, compared to the consensus estimate of $706.65 million. TRI Pointe Group had a return on equity of 9.32% and a net margin of 6.97%. The company’s quarterly revenue was up 24.0% compared to the same quarter last year. During the same period last year, the business posted $0.22 EPS. analysts predict that TRI Pointe Group will post 1.37 EPS for the current fiscal year.
In other TRI Pointe Group news, insider Thomas J. Mitchell sold 291,039 shares of the firm’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $17.04, for a total transaction of $4,959,304.56. Following the completion of the sale, the insider now owns 274,312 shares in the company, valued at approximately $4,674,276.48. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Michael D. Grubbs sold 300,000 shares of the firm’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 value of $4,506,000.00. Following the sale, the chief financial officer now owns 163,828 shares of the company’s stock, valued at approximately $2,460,696.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,139,281 shares of company stock worth $19,304,905. Company insiders own 2.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of TPH. Shelton Capital Management acquired a new stake in TRI Pointe Group during the 2nd quarter valued at approximately $146,000. Riverhead Capital Management LLC grew its stake in TRI Pointe Group by 89.9% during the 2nd quarter. Riverhead Capital Management LLC now owns 12,720 shares of the construction company’s stock valued at $168,000 after purchasing an additional 6,020 shares in the last quarter. Virtu Financial LLC acquired a new stake in TRI Pointe Group during the 3rd quarter valued at approximately $197,000. Quantitative Systematic Strategies LLC acquired a new stake in TRI Pointe Group during the 3rd quarter valued at approximately $202,000. Finally, Marshall Wace North America L.P. acquired a new stake in TRI Pointe Group during the 2nd quarter valued at approximately $232,000.
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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