Tri Pointe Homes (NYSE:TPH) Now Covered by Analysts at Citizens Jmp

Analysts at Citizens Jmp began coverage on shares of Tri Pointe Homes (NYSE:TPH) in a research note issued to investors on Wednesday,Benzinga reports. The firm set a “market outperform” rating and a $46.00 price target on the construction company’s stock. Citizens Jmp’s price objective indicates a potential upside of 45.54% from the company’s previous close.

TPH has been the topic of a number of other reports. Citigroup began coverage on Tri Pointe Homes in a report on Wednesday. They set an “outperform” rating on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Tri Pointe Homes in a research report on Thursday, October 30th. Finally, Evercore ISI reissued an “in-line” rating and set a $34.00 target price (down previously from $38.00) on shares of Tri Pointe Homes in a research note on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. 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 Price Performance

Shares of NYSE:TPH opened at $31.61 on Wednesday. The company has a market capitalization of $2.72 billion, a P/E ratio of 9.32, a P/E/G ratio of 0.94 and a beta of 1.35. Tri Pointe Homes has a 1-year low of $27.90 and a 1-year high of $38.96. The firm’s 50 day simple moving average is $32.38 and its two-hundred day simple moving average is $33.17. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.01 and a quick ratio of 2.01.

Tri Pointe Homes (NYSE:TPH) last announced its quarterly earnings data on Thursday, October 23rd. The construction company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.20. Tri Pointe Homes had a net margin of 8.44% and a return on equity of 9.79%. The firm had revenue of $836.87 million during the quarter, compared to analysts’ expectations of $782.22 million. During the same period in the prior year, the company posted $1.18 earnings per share. The company’s revenue for the quarter was down 26.6% compared to the same quarter last year. Research analysts expect that Tri Pointe Homes will post 3.58 EPS for the current fiscal year.

Institutional Investors Weigh In On Tri Pointe Homes

A number of hedge funds have recently made changes to their positions in TPH. Royal Bank of Canada grew its holdings in Tri Pointe Homes by 19.1% during the 1st quarter. Royal Bank of Canada now owns 72,740 shares of the construction company’s stock valued at $2,322,000 after buying an additional 11,668 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Tri Pointe Homes by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,879 shares of the construction company’s stock valued at $1,752,000 after acquiring an additional 2,398 shares during the last quarter. Caxton Associates LLP purchased a new position in shares of Tri Pointe Homes in the first quarter valued at $1,318,000. Great Lakes Advisors LLC increased its position in Tri Pointe Homes by 2,085.4% in the first quarter. Great Lakes Advisors LLC now owns 123,146 shares of the construction company’s stock worth $3,931,000 after purchasing an additional 117,511 shares during the last quarter. Finally, Intech Investment Management LLC raised its stake in Tri Pointe Homes by 33.5% during the first quarter. Intech Investment Management LLC now owns 56,013 shares of the construction company’s stock valued at $1,788,000 after purchasing an additional 14,069 shares in the last quarter. 97.01% of the stock is currently owned by hedge funds and other institutional investors.

About Tri Pointe Homes

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.