Tri Pointe Homes (NYSE:TPH) Reaches New 52-Week High – Time to Buy?

Tri Pointe Homes Inc. (NYSE:TPH) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $46.62 and last traded at $46.3350, with a volume of 2933675 shares. The stock had previously closed at $46.31.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Citigroup began coverage on Tri Pointe Homes in a research report on Wednesday, January 7th. They set an “outperform” rating on the stock. Weiss Ratings reissued 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. Royal Bank Of Canada upped their target price on shares of Tri Pointe Homes from $31.00 to $47.00 and gave the company a “sector perform” rating in a report on Tuesday, February 17th. Finally, Citizens Jmp began coverage on shares of Tri Pointe Homes in a research note on Wednesday, January 7th. They set a “market outperform” rating and a $46.00 price target on the stock. Three analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Tri Pointe Homes presently has a consensus rating of “Hold” and a consensus target price of $42.50.

Tri Pointe Homes Stock Up 0.1%

The business’s fifty day moving average price is $35.44 and its 200 day moving average price is $34.20. The firm has a market capitalization of $3.98 billion, a price-to-earnings ratio of 13.67, a PEG ratio of 1.38 and a beta of 1.39. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.34.

Insider Activity at Tri Pointe Homes

In other news, Director Steven J. Gilbert sold 50,000 shares of the stock in a transaction dated 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 sale, the director owned 30,330 shares in the company, valued at approximately $1,405,188.90. This represents a 62.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.70% of the company’s stock.

Institutional Trading of Tri Pointe Homes

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. AQR Capital Management LLC lifted its position in Tri Pointe Homes by 353.2% during the 2nd quarter. AQR Capital Management LLC now owns 687,307 shares of the construction company’s stock worth $21,788,000 after acquiring an additional 535,640 shares during the period. AE Wealth Management LLC lifted its holdings in shares of Tri Pointe Homes by 4,456.8% during the second quarter. AE Wealth Management LLC now owns 348,918 shares of the construction company’s stock worth $11,148,000 after purchasing an additional 341,261 shares during the period. Norges Bank acquired a new stake in shares of Tri Pointe Homes during the fourth quarter worth $10,110,000. Jacobs Levy Equity Management Inc. grew its position in Tri Pointe Homes by 52.7% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 895,569 shares of the construction company’s stock valued at $30,422,000 after buying an additional 309,223 shares during the last quarter. Finally, Boston Partners increased its stake in Tri Pointe Homes by 60.3% in the 2nd quarter. Boston Partners now owns 820,492 shares of the construction company’s stock valued at $26,217,000 after buying an additional 308,751 shares during the period. 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.