Tri Pointe Homes (NYSE:TPH) Posts Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Tri Pointe Homes (NYSE:TPH) released its earnings results on Wednesday. The construction company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.78 by $0.02, FiscalAI reports. Tri Pointe Homes had a net margin of 8.44% and a return on equity of 9.79%. The company’s revenue for the quarter was down 22.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.37 earnings per share.

Tri Pointe Homes Stock Up 0.1%

NYSE TPH traded up $0.04 during trading on Wednesday, reaching $46.41. 332,738 shares of the company’s stock were exchanged, compared to its average volume of 2,101,328. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.34. Tri Pointe Homes has a fifty-two week low of $27.90 and a fifty-two week high of $46.62. The company’s fifty day simple moving average is $35.71 and its 200-day simple moving average is $34.30. The firm has a market capitalization of $3.99 billion, a PE ratio of 13.69, a P/E/G ratio of 1.38 and a beta of 1.39.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TPH. Citigroup assumed coverage on Tri Pointe Homes in a research note on Wednesday, January 7th. They set an “outperform” rating for the company. Royal Bank Of Canada upped their target price on Tri Pointe Homes from $31.00 to $47.00 and gave the company a “sector perform” rating in a report on Tuesday, February 17th. Citizens Jmp began coverage on Tri Pointe Homes in a report on Wednesday, January 7th. They set a “market outperform” rating and a $46.00 price objective on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tri Pointe Homes in a research note on Tuesday, January 27th. Finally, Oppenheimer cut shares of Tri Pointe Homes from an “outperform” rating to a “market perform” rating in a report on Friday, February 13th. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $42.50.

Insider Activity

In related news, Director Steven J. Gilbert sold 50,000 shares of the firm’s stock in a transaction that occurred on 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 directly owned 30,330 shares in the company, valued at approximately $1,405,188.90. This trade represents a 62.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC increased its position in Tri Pointe Homes by 353.2% during the second quarter. AQR Capital Management LLC now owns 687,307 shares of the construction company’s stock worth $21,788,000 after buying an additional 535,640 shares during the last quarter. Norges Bank bought a new stake in shares of Tri Pointe Homes during the 4th quarter worth about $10,110,000. Jacobs Levy Equity Management Inc. increased its holdings in shares of Tri Pointe Homes by 52.7% during 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 acquiring an additional 309,223 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of Tri Pointe Homes in the 4th quarter valued at approximately $8,951,000. Finally, Bank of America Corp DE lifted its holdings in Tri Pointe Homes by 34.1% in the 3rd quarter. Bank of America Corp DE now owns 1,099,955 shares of the construction company’s stock worth $37,365,000 after purchasing an additional 279,979 shares during the last quarter. Institutional investors and hedge funds own 97.01% of the company’s stock.

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.