TRI Pointe Group (TPH) Given Outperform Rating at Wedbush

Wedbush reaffirmed their outperform rating on shares of TRI Pointe Group (NYSE:TPH) in a research report sent to investors on Wednesday morning. Wedbush currently has a $21.00 target price on the construction company’s stock. Wedbush also issued estimates for TRI Pointe Group’s Q3 2019 earnings at $0.47 EPS.

Other research analysts also recently issued research reports about the stock. Zacks Investment Research upgraded shares of TRI Pointe Group from a hold rating to a buy rating and set a $21.00 price objective on the stock in a report on Saturday, January 6th. B. Riley restated a buy rating on shares of TRI Pointe Group in a report on Wednesday, November 1st. ValuEngine upgraded shares of TRI Pointe Group from a buy rating to a strong-buy rating in a report on Friday, February 2nd. BTIG Research upgraded shares of TRI Pointe Group from a sell rating to a neutral rating and set a $15.00 price objective on the stock in a report on Thursday, October 26th. Finally, JMP Securities boosted their price objective on shares of TRI Pointe Group from $16.00 to $18.00 and gave the stock a market outperform rating in a report on Thursday, October 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. TRI Pointe Group currently has an average rating of Buy and a consensus price target of $18.22.

TRI Pointe Group (NYSE TPH) opened at $17.36 on Wednesday. The company has a market cap of $2,634.12, a price-to-earnings ratio of 12.10, a P/E/G ratio of 0.90 and a beta of 1.57. TRI Pointe Group has a twelve month low of $11.74 and a twelve month high of $19.55. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.80.

TRI Pointe Group (NYSE:TPH) last posted its quarterly earnings data on Tuesday, February 20th. The construction company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.06. TRI Pointe Group had a net margin of 6.66% and a return on equity of 12.05%. The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the previous year, the firm posted $0.36 EPS. The business’s revenue was up 45.7% compared to the same quarter last year. analysts expect that TRI Pointe Group will post 1.77 earnings per share for the current fiscal year.

TRI Pointe Group announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, February 20th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the construction company to repurchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

In other news, insider Thomas J. Mitchell sold 150,822 shares of TRI Pointe Group stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $18.83, for a total transaction of $2,839,978.26. Following the sale, the insider now directly owns 274,312 shares in the company, valued at approximately $5,165,294.96. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Douglas F. Bauer sold 75,000 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $18.04, for a total transaction of $1,353,000.00. Following the completion of the transaction, the chief executive officer now owns 289,313 shares in the company, valued at $5,219,206.52. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by insiders.

Large investors have recently added to or reduced their stakes in the business. Legal & General Group Plc boosted its position in TRI Pointe Group by 6.3% in the third quarter. Legal & General Group Plc now owns 128,793 shares of the construction company’s stock valued at $1,778,000 after buying an additional 7,645 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in TRI Pointe Group by 29.9% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 40,559 shares of the construction company’s stock valued at $560,000 after buying an additional 9,324 shares in the last quarter. JPMorgan Chase & Co. boosted its position in TRI Pointe Group by 5.1% in the third quarter. JPMorgan Chase & Co. now owns 1,171,757 shares of the construction company’s stock valued at $15,784,000 after buying an additional 56,400 shares in the last quarter. Stifel Financial Corp boosted its position in TRI Pointe Group by 8.0% in the third quarter. Stifel Financial Corp now owns 368,470 shares of the construction company’s stock valued at $5,067,000 after buying an additional 27,217 shares in the last quarter. Finally, Voya Investment Management LLC boosted its position in TRI Pointe Group by 10.6% in the second quarter. Voya Investment Management LLC now owns 64,776 shares of the construction company’s stock valued at $854,000 after buying an additional 6,212 shares in the last quarter.

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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.

Analyst Recommendations for TRI Pointe Group (NYSE:TPH)

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