Wedbush Reaffirms “Neutral” Rating for Tri Pointe Homes (NYSE:TPH)

Wedbush reissued their neutral rating on shares of Tri Pointe Homes (NYSE:TPH) in a research report sent to investors on Thursday morning, Benzinga reports. They currently have a $35.00 price objective on the construction company’s stock.

A number of other equities research analysts have also recently weighed in on TPH. Oppenheimer restated an outperform rating and issued a $41.00 price target (up previously from $36.00) on shares of Tri Pointe Homes in a report on Wednesday, February 21st. Royal Bank of Canada upgraded Tri Pointe Homes from a sector perform rating to an outperform rating and set a $38.00 price target on the stock in a report on Wednesday, March 13th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $38.80.

Tri Pointe Homes Stock Performance

Shares of TPH stock opened at $36.80 on Thursday. The stock has a market capitalization of $3.51 billion, a PE ratio of 10.67, a price-to-earnings-growth ratio of 0.76 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 stock’s 50-day moving average price is $35.73 and its 200 day moving average price is $32.86. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.46.

Tri Pointe Homes (NYSE:TPH) last issued its quarterly earnings results on Tuesday, February 20th. The construction company reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.24. The firm had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Tri Pointe Homes had a return on equity of 11.75% and a net margin of 9.37%. The firm’s revenue for the quarter was down 17.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.98 EPS. As a group, equities research analysts forecast that Tri Pointe Homes will post 3.65 EPS for the current year.

Insiders Place Their Bets

In other Tri Pointe Homes news, COO Thomas J. Mitchell sold 51,533 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $35.22, for a total transaction of $1,814,992.26. Following the transaction, the chief operating officer now owns 785,543 shares of the company’s stock, valued at approximately $27,666,824.46. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 2.00% of the company’s stock.

Institutional Trading of Tri Pointe Homes

A number of institutional investors and hedge funds have recently made changes to their positions in TPH. Pacer Advisors Inc. increased its holdings in shares of Tri Pointe Homes by 63.8% during the 4th quarter. Pacer Advisors Inc. now owns 3,913,521 shares of the construction company’s stock worth $138,539,000 after buying an additional 1,524,401 shares during the last quarter. GW&K Investment Management LLC acquired a new stake in Tri Pointe Homes in the 4th quarter valued at $24,389,000. Norges Bank acquired a new stake in Tri Pointe Homes in the 4th quarter valued at $22,862,000. American Century Companies Inc. increased its holdings in Tri Pointe Homes by 21.7% in the 3rd quarter. American Century Companies Inc. now owns 1,683,362 shares of the construction company’s stock valued at $46,040,000 after purchasing an additional 300,383 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its holdings in Tri Pointe Homes by 44.5% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 800,710 shares of the construction company’s stock valued at $21,899,000 after purchasing an additional 246,648 shares in the last quarter. 97.01% of the stock is currently owned by institutional investors and hedge funds.

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.