Tri Pointe Homes (NYSE:TPH) Shares Gap Up to $25.97

Shares of Tri Pointe Homes, Inc. (NYSE:TPH) gapped up before the market opened on Thursday . The stock had previously closed at $25.97, but opened at $26.80. Tri Pointe Homes shares last traded at $27.42, with a volume of 5,766 shares.

A number of research firms recently commented on TPH. Royal Bank of Canada raised shares of Tri Pointe Homes from an “underperform” rating to a “sector perform” rating and lifted their price target for the stock from $22.00 to $25.00 in a research note on Friday, October 22nd. Zacks Investment Research cut shares of Tri Pointe Homes from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 24th. Finally, B. Riley reissued a “buy” rating and issued a $34.00 price objective (up from $31.00) on shares of Tri Pointe Homes in a research report on Friday, October 22nd. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Tri Pointe Homes presently has an average rating of “Hold” and an average price target of $27.20.

The company has a market capitalization of $2.91 billion, a PE ratio of 7.11 and a beta of 1.48. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.57. The firm’s 50-day simple moving average is $26.28 and its 200-day simple moving average is $23.88.

Tri Pointe Homes (NYSE:TPH) last posted its quarterly earnings results on Thursday, October 21st. The construction company reported $1.17 EPS for the quarter, beating the consensus estimate of $0.89 by $0.28. Tri Pointe Homes had a net margin of 11.41% and a return on equity of 19.20%. The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $947.82 million. During the same quarter in the previous year, the business posted $0.63 EPS. The company’s quarterly revenue was up 24.6% compared to the same quarter last year. As a group, analysts anticipate that Tri Pointe Homes, Inc. will post 3.91 EPS for the current year.

Several large investors have recently bought and sold shares of TPH. Signaturefd LLC raised its holdings in shares of Tri Pointe Homes by 63.4% in the 3rd quarter. Signaturefd LLC now owns 1,183 shares of the construction company’s stock valued at $25,000 after purchasing an additional 459 shares in the last quarter. Wealth Quarterback LLC raised its stake in shares of Tri Pointe Homes by 65.5% during the 3rd quarter. Wealth Quarterback LLC now owns 2,886 shares of the construction company’s stock worth $37,000 after acquiring an additional 1,142 shares in the last quarter. FORA Capital LLC bought a new position in shares of Tri Pointe Homes during the 2nd quarter worth approximately $54,000. Lazard Asset Management LLC raised its stake in shares of Tri Pointe Homes by 20.6% during the 2nd quarter. Lazard Asset Management LLC now owns 4,926 shares of the construction company’s stock worth $105,000 after acquiring an additional 842 shares in the last quarter. Finally, William Blair Investment Management LLC bought a new position in shares of Tri Pointe Homes during the 2nd quarter worth approximately $122,000. Institutional investors and hedge funds own 97.94% of the company’s stock.

About Tri Pointe Homes (NYSE:TPH)

Tri Pointe Homes, Inc designs constructs and sells single-family homes and condominiums. It operates through the Homebuilding and Financial Services segments. The Homebuilding segment consists of six reportable segments: Maracay Homes, consisting of 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.

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