StockNews.com Upgrades Tri Pointe Homes (NYSE:TPH) to Buy

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

Other equities analysts have also recently issued research reports about the company. Wedbush reaffirmed a neutral rating and set a $35.00 target price on shares of Tri Pointe Homes in a research note on Thursday, April 25th. Royal Bank of Canada raised their price target on shares of Tri Pointe Homes from $38.00 to $42.00 and gave the stock an outperform rating in a report on Friday. Finally, Oppenheimer upped their price objective on shares of Tri Pointe Homes from $41.00 to $46.00 and gave the company an outperform rating in a research note on Friday. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $40.60.

Tri Pointe Homes Stock Down 0.3 %

TPH stock opened at $37.75 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.99 and a quick ratio of 1.99. The firm has a market capitalization of $3.58 billion, a P/E ratio of 10.07, a P/E/G ratio of 0.80 and a beta of 1.54. Tri Pointe Homes has a 52-week low of $24.18 and a 52-week high of $39.08. The company’s 50 day simple moving average is $35.85 and its 200-day simple moving average is $33.09.

Tri Pointe Homes (NYSE:TPH) last announced its earnings results 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. The company had revenue of $918.40 million for the quarter, compared to the consensus estimate of $867.77 million. Tri Pointe Homes had a net margin of 9.62% and a return on equity of 12.39%. The company’s revenue was up 19.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.73 EPS. As a group, equities research analysts anticipate that Tri Pointe Homes will post 3.65 EPS for the current year.

Insider Buying and Selling

In other Tri Pointe Homes news, COO Thomas J. Mitchell sold 51,533 shares of Tri Pointe Homes stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $35.22, for a total value of $1,814,992.26. Following the completion of the sale, the chief operating officer now directly owns 785,543 shares in the company, valued at $27,666,824.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tri Pointe Homes

Several hedge funds have recently bought and sold shares of the business. Principal Financial Group Inc. boosted its stake in shares of Tri Pointe Homes by 0.4% during the 1st quarter. Principal Financial Group Inc. now owns 530,036 shares of the construction company’s stock worth $20,491,000 after acquiring an additional 2,211 shares in the last quarter. Aspen Investment Management Inc bought a new stake in Tri Pointe Homes during the first quarter worth approximately $411,000. New York State Teachers Retirement System grew its holdings in Tri Pointe Homes by 5.0% during the first quarter. New York State Teachers Retirement System now owns 64,040 shares of the construction company’s stock valued at $2,476,000 after purchasing an additional 3,063 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of Tri Pointe Homes by 51.4% in the first quarter. Assenagon Asset Management S.A. now owns 451,148 shares of the construction company’s stock valued at $17,441,000 after purchasing an additional 153,109 shares during the period. Finally, New Mexico Educational Retirement Board bought a new position in shares of Tri Pointe Homes in the first quarter valued at approximately $955,000. 97.01% of the stock is owned by institutional investors and hedge funds.

About Tri Pointe Homes

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.