Tri Pointe Homes (NYSE:TPH) Upgraded at Evercore ISI

Evercore ISI upgraded shares of Tri Pointe Homes (NYSE:TPH) to a strong-buy rating in a report published on Friday morning, Zacks.com reports.

TPH has been the subject of several other research reports. Royal Bank of Canada boosted their price objective on Tri Pointe Homes from $42.00 to $48.00 and gave the company an outperform rating in a report on Friday. StockNews.com upgraded Tri Pointe Homes from a hold rating to a buy rating in a research report on Friday, April 26th. Wedbush reaffirmed a neutral rating and set a $42.00 price objective on shares of Tri Pointe Homes in a research note on Thursday, July 25th. Finally, Oppenheimer boosted their target price on shares of Tri Pointe Homes from $46.00 to $54.00 and gave the company an outperform rating in a research note on Friday. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Buy and a consensus price target of $45.50.

Tri Pointe Homes Price Performance

Shares of NYSE TPH opened at $46.04 on Friday. Tri Pointe Homes has a 52 week low of $24.18 and a 52 week high of $47.78. The business’s 50 day moving average price is $39.27 and its 200 day moving average price is $37.23. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30. The firm has a market cap of $4.31 billion, a P/E ratio of 12.28, a P/E/G ratio of 0.76 and a beta of 1.59.

Tri Pointe Homes (NYSE:TPH) last announced its quarterly earnings data on Thursday, July 25th. The construction company reported $1.25 EPS for the quarter, beating the consensus estimate of $1.09 by $0.16. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Tri Pointe Homes had a net margin of 10.28% and a return on equity of 14.03%. The business’s quarterly revenue was up 38.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.60 EPS. On average, sell-side analysts expect that Tri Pointe Homes will post 4.66 earnings per share for the current year.

Insider Activity

In other Tri Pointe Homes news, CEO Douglas F. Bauer sold 56,567 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $39.78, for a total transaction of $2,250,235.26. Following the completion of the transaction, the chief executive officer now directly owns 677,816 shares in the company, valued at $26,963,520.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Glenn J. Keeler sold 24,200 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $46.16, for a total transaction of $1,117,072.00. Following the transaction, the chief financial officer now directly owns 149,108 shares in the company, valued at $6,882,825.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Douglas F. Bauer sold 56,567 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $39.78, for a total transaction of $2,250,235.26. Following the sale, the chief executive officer now directly owns 677,816 shares of the company’s stock, valued at approximately $26,963,520.48. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in TPH. Trexquant Investment LP purchased a new position in Tri Pointe Homes during the fourth quarter worth approximately $3,135,000. BNP Paribas Financial Markets increased its stake in shares of Tri Pointe Homes by 132.8% in the 1st quarter. BNP Paribas Financial Markets now owns 122,337 shares of the construction company’s stock worth $4,730,000 after acquiring an additional 69,789 shares during the last quarter. UniSuper Management Pty Ltd purchased a new position in Tri Pointe Homes during the first quarter worth about $834,000. State Board of Administration of Florida Retirement System increased its position in shares of Tri Pointe Homes by 64.7% during the first quarter. State Board of Administration of Florida Retirement System now owns 83,261 shares of the construction company’s stock valued at $3,219,000 after acquiring an additional 32,717 shares during the last quarter. Finally, Forge First Asset Management Inc. acquired a new stake in shares of Tri Pointe Homes during the first quarter valued at about $3,156,000. 97.01% of the stock is currently owned by institutional investors and hedge funds.

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.