Tri Pointe Homes Inc. (NYSE:TPH) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Tri Pointe Homes Inc. (NYSE:TPH) have received a consensus rating of “Moderate Buy” from the seven brokerages that are covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $40.25.

Several equities analysts have recently weighed in on the company. Wedbush restated an “outperform” rating and issued a $43.00 target price on shares of Tri Pointe Homes in a research report on Friday, July 25th. Wall Street Zen upgraded Tri Pointe Homes from a “sell” rating to a “hold” rating in a research report on Saturday, August 30th. Evercore ISI reduced their target price on Tri Pointe Homes from $39.00 to $38.00 and set an “outperform” rating on the stock in a research report on Friday, July 25th. Weiss Ratings restated a “hold (c+)” rating on shares of Tri Pointe Homes in a research report on Saturday, September 27th. Finally, Wolfe Research downgraded Tri Pointe Homes from an “outperform” rating to a “peer perform” rating in a research report on Sunday, July 27th.

Institutional Investors Weigh In On Tri Pointe Homes

A number of institutional investors have recently modified their holdings of the company. State Street Corp grew its stake in shares of Tri Pointe Homes by 1.0% in the second quarter. State Street Corp now owns 4,556,255 shares of the construction company’s stock valued at $145,572,000 after buying an additional 44,574 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Tri Pointe Homes by 13.3% in the second quarter. American Century Companies Inc. now owns 2,502,818 shares of the construction company’s stock valued at $79,965,000 after buying an additional 293,652 shares in the last quarter. LSV Asset Management grew its stake in Tri Pointe Homes by 4.8% during the 1st quarter. LSV Asset Management now owns 1,762,922 shares of the construction company’s stock worth $56,272,000 after purchasing an additional 80,198 shares in the last quarter. Nuveen LLC acquired a new position in Tri Pointe Homes during the 1st quarter worth $43,906,000. Finally, Allianz Asset Management GmbH grew its stake in Tri Pointe Homes by 54.8% during the 1st quarter. Allianz Asset Management GmbH now owns 1,255,057 shares of the construction company’s stock worth $40,061,000 after purchasing an additional 444,153 shares in the last quarter. 97.01% of the stock is owned by institutional investors and hedge funds.

Tri Pointe Homes Stock Down 2.3%

Shares of TPH opened at $33.86 on Thursday. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.28. Tri Pointe Homes has a 12 month low of $27.90 and a 12 month high of $46.91. The stock’s 50 day moving average is $34.37 and its two-hundred day moving average is $32.37. The firm has a market cap of $3.07 billion, a P/E ratio of 8.62, a PEG ratio of 0.94 and a beta of 1.30.

Tri Pointe Homes (NYSE:TPH) last issued its quarterly earnings data on Thursday, July 24th. The construction company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.66 by $0.11. Tri Pointe Homes had a return on equity of 11.33% and a net margin of 9.22%.The company had revenue of $884.01 million for the quarter, compared to analyst estimates of $810.77 million. During the same period last year, the company earned $1.25 earnings per share. Tri Pointe Homes’s quarterly revenue was down 22.3% compared to the same quarter last year. Analysts predict that Tri Pointe Homes will post 3.58 earnings per share for the current fiscal year.

Tri Pointe Homes announced that its Board of Directors has authorized a share buyback plan on Thursday, July 24th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the construction company to purchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

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.