Tri Pointe Homes (NYSE:TPH) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of Tri Pointe Homes (NYSE:TPH) from a hold rating to a buy rating in a research note published on Friday.

Other research analysts have also issued research reports about the stock. Oppenheimer boosted their target price on shares of Tri Pointe Homes from $41.00 to $46.00 and gave the stock an outperform rating in a research report on Friday. Royal Bank of Canada boosted their target price on shares of Tri Pointe Homes from $38.00 to $42.00 and gave the stock an outperform rating in a research report on Friday. Finally, Wedbush reissued a neutral rating and set a $35.00 target price on shares of Tri Pointe Homes in a research report on Thursday. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $40.60.

Tri Pointe Homes Stock Up 2.9 %

TPH stock opened at $37.87 on Friday. The company has a current ratio of 1.99, a quick ratio of 2.11 and a debt-to-equity ratio of 0.45. Tri Pointe Homes has a 1 year low of $24.18 and a 1 year high of $39.08. The company has a fifty day simple moving average of $35.79 and a 200 day simple moving average of $32.94. The firm has a market cap of $3.61 billion, a PE ratio of 10.10, a PEG ratio of 0.77 and a beta of 1.54.

Tri Pointe Homes (NYSE:TPH) last released its quarterly earnings data on Thursday, April 25th. The construction company reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.34. Tri Pointe Homes had a net margin of 9.62% and a return on equity of 12.39%. The business had revenue of $918.40 million during the quarter, compared to analyst estimates of $867.77 million. During the same quarter in the previous year, the business earned $0.73 EPS. Tri Pointe Homes’s quarterly revenue was up 19.5% compared to the same quarter last year. Sell-side analysts anticipate that Tri Pointe Homes will post 3.65 EPS for the current fiscal year.

Insider Activity

In other news, COO Thomas J. Mitchell sold 51,533 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $35.22, for a total transaction of $1,814,992.26. Following the completion of the transaction, the chief operating officer now owns 785,543 shares of the company’s stock, valued at $27,666,824.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Pacer Advisors Inc. increased its stake in Tri Pointe Homes by 63.8% in the fourth quarter. Pacer Advisors Inc. now owns 3,913,521 shares of the construction company’s stock valued at $138,539,000 after acquiring an additional 1,524,401 shares during the period. GW&K Investment Management LLC bought a new stake in Tri Pointe Homes during the fourth quarter worth about $24,389,000. Norges Bank bought a new stake in Tri Pointe Homes during the fourth quarter worth about $22,862,000. American Century Companies Inc. grew its stake in Tri Pointe Homes by 21.7% during the third quarter. American Century Companies Inc. now owns 1,683,362 shares of the construction company’s stock worth $46,040,000 after buying an additional 300,383 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its stake in Tri Pointe Homes by 44.5% during the third quarter. Robeco Institutional Asset Management B.V. now owns 800,710 shares of the construction company’s stock worth $21,899,000 after buying an additional 246,648 shares during the last quarter. Institutional investors and hedge funds 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.