Tri Pointe Homes (NYSE:TPH) Reaches New 52-Week High – Here’s What Happened

Tri Pointe Homes Inc. (NYSE:TPH) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $46.76 and last traded at $46.7050, with a volume of 2032260 shares trading hands. The stock had previously closed at $46.75.

Wall Street Analysts Forecast Growth

TPH has been the topic of several research reports. Citizens Jmp assumed coverage on Tri Pointe Homes in a report on Wednesday, January 7th. They set a “market outperform” rating and a $46.00 price objective on the stock. Royal Bank Of Canada lifted their price objective on Tri Pointe Homes from $31.00 to $47.00 and gave the company a “sector perform” rating in a report on Tuesday, February 17th. Weiss Ratings reiterated a “hold (c)” rating on shares of Tri Pointe Homes in a report on Tuesday, January 27th. Oppenheimer downgraded shares of Tri Pointe Homes from an “outperform” rating to a “market perform” rating in a research report on Friday, February 13th. Finally, Citigroup began coverage on shares of Tri Pointe Homes in a report on Wednesday, January 7th. They issued an “outperform” rating for the company. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $42.50.

Tri Pointe Homes Price Performance

The firm has a market capitalization of $3.98 billion, a PE ratio of 17.17, a P/E/G ratio of 1.39 and a beta of 1.30. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.63 and a current ratio of 2.63. The stock has a fifty day moving average price of $43.17 and a 200-day moving average price of $36.52.

Tri Pointe Homes (NYSE:TPH) last posted its earnings results on Wednesday, February 25th. The construction company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.02. The company had revenue of $972.63 million for the quarter, compared to analyst estimates of $917.86 million. Tri Pointe Homes had a return on equity of 7.96% and a net margin of 7.09%.The firm’s quarterly revenue was down 22.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.37 earnings per share. Sell-side analysts forecast that Tri Pointe Homes Inc. will post 3.58 EPS for the current fiscal year.

Insider Activity

In related news, Director Steven J. Gilbert sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $46.33, for a total transaction of $2,316,500.00. Following the completion of the transaction, the director owned 30,330 shares in the company, valued at $1,405,188.90. The trade was a 62.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 3.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tri Pointe Homes

Institutional investors and hedge funds have recently bought and sold shares of the company. Summit Securities Group LLC purchased a new stake in shares of Tri Pointe Homes during the 4th quarter valued at $27,000. Harbor Capital Advisors Inc. grew its stake in Tri Pointe Homes by 45.2% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 1,108 shares of the construction company’s stock worth $38,000 after buying an additional 345 shares during the last quarter. Fulcrum Asset Management LLP acquired a new position in Tri Pointe Homes during the 3rd quarter valued at about $44,000. Farther Finance Advisors LLC raised its stake in Tri Pointe Homes by 306.8% in the third quarter. Farther Finance Advisors LLC now owns 1,383 shares of the construction company’s stock valued at $47,000 after buying an additional 1,043 shares during the last quarter. Finally, Rockefeller Capital Management L.P. raised its stake in Tri Pointe Homes by 29.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,615 shares of the construction company’s stock valued at $51,000 after buying an additional 367 shares during the last quarter. 97.01% of the stock is owned by hedge funds and other institutional investors.

Tri Pointe Homes Company Profile

Tri Pointe Homes, Inc (NYSE: TPH) is a national homebuilder engaged in the acquisition, development, construction, marketing and sale of single-family detached homes and attached products. The company’s operations span a range of new residential communities, offering customizable floor plans in both tract and luxury segments. Its integrated business model encompasses land sourcing, entitlement, design, construction oversight and in-house customer care and warranty service.

Founded in 2009 through the combination of three regional builders, Tri Pointe Homes has grown into a prominent player across key western U.S.