Tri Pointe Homes (NYSE:TPH) Shares Up 3.3% – Still a Buy?

Tri Pointe Homes, Inc. (NYSE:TPH) rose 3.3% on Friday . The company traded as high as $31.29 and last traded at $31.68. Approximately 258,131 shares changed hands during mid-day trading, a decline of 70% from the average daily volume of 856,772 shares. The stock had previously closed at $30.66.

Analyst Ratings Changes

Several research firms have recently weighed in on TPH. Evercore ISI reduced their price objective on shares of Tri Pointe Homes from $54.00 to $42.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. StockNews.com lowered shares of Tri Pointe Homes from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Oppenheimer dropped their price target on Tri Pointe Homes from $53.00 to $43.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. Wedbush reissued a “neutral” rating and set a $38.00 price objective (down from $44.00) on shares of Tri Pointe Homes in a research note on Tuesday, February 18th. Finally, Seaport Res Ptn raised Tri Pointe Homes from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 6th. Four analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Tri Pointe Homes presently has an average rating of “Moderate Buy” and an average target price of $40.60.

Tri Pointe Homes Stock Performance

The firm’s 50 day simple moving average is $33.30 and its 200-day simple moving average is $38.26. The company has a market capitalization of $2.91 billion, a price-to-earnings ratio of 6.57, a P/E/G ratio of 0.67 and a beta of 1.71. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.64 and a current ratio of 2.24.

Tri Pointe Homes (NYSE:TPH) last posted its quarterly earnings results on Tuesday, February 18th. The construction company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.07. Tri Pointe Homes had a return on equity of 14.34% and a net margin of 10.36%. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. Analysts expect that Tri Pointe Homes, Inc. will post 3.58 EPS for the current year.

Tri Pointe Homes announced that its board has approved a stock repurchase program on Wednesday, December 18th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the construction company to repurchase up to 7.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Covestor Ltd grew its holdings in shares of Tri Pointe Homes by 58.5% during the 4th quarter. Covestor Ltd now owns 908 shares of the construction company’s stock valued at $33,000 after acquiring an additional 335 shares in the last quarter. Smartleaf Asset Management LLC increased its position in Tri Pointe Homes by 84.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,339 shares of the construction company’s stock worth $49,000 after purchasing an additional 613 shares during the last quarter. Assetmark Inc. raised its stake in shares of Tri Pointe Homes by 19.6% during the 4th quarter. Assetmark Inc. now owns 1,827 shares of the construction company’s stock worth $66,000 after purchasing an additional 300 shares in the last quarter. Sterling Capital Management LLC lifted its holdings in shares of Tri Pointe Homes by 729.5% during the 4th quarter. Sterling Capital Management LLC now owns 2,082 shares of the construction company’s stock valued at $75,000 after buying an additional 1,831 shares during the last quarter. Finally, Venturi Wealth Management LLC grew its stake in shares of Tri Pointe Homes by 562.1% in the 4th quarter. Venturi Wealth Management LLC now owns 2,238 shares of the construction company’s stock valued at $81,000 after buying an additional 1,900 shares in the last quarter. Institutional investors and hedge funds own 97.01% of the company’s stock.

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.