Tri Pointe Homes (NYSE:TPH) Upgraded by Zelman & Associates to “Neutral”

Tri Pointe Homes (NYSE:TPH) was upgraded by investment analysts at Zelman & Associates from an “underperform” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has a $43.00 price objective on the construction company’s stock. Zelman & Associates’ price objective indicates a potential downside of 5.10% from the company’s previous close.

A number of other equities research analysts also recently weighed in on TPH. Wedbush reaffirmed a “neutral” rating and set a $42.00 price objective on shares of Tri Pointe Homes in a report on Thursday, July 25th. Oppenheimer lifted 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, July 26th. Evercore ISI upgraded shares of Tri Pointe Homes to a “strong-buy” rating in a research note on Friday, July 26th. Finally, Royal Bank of Canada lifted their target price on shares of Tri Pointe Homes from $42.00 to $48.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $46.75.

Tri Pointe Homes Stock Performance

Shares of NYSE:TPH traded up $0.90 during midday trading on Tuesday, hitting $45.31. The company’s stock had a trading volume of 30,127 shares, compared to its average volume of 925,919. The stock has a market capitalization of $4.30 billion, a price-to-earnings ratio of 11.84, a PEG ratio of 0.71 and a beta of 1.59. The stock’s 50 day simple moving average is $43.02 and its 200 day simple moving average is $39.19. Tri Pointe Homes has a fifty-two week low of $24.18 and a fifty-two week high of $47.78. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29.

Tri Pointe Homes (NYSE:TPH) last released its earnings results on Thursday, July 25th. The construction company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.16. Tri Pointe Homes had a return on equity of 14.03% and a net margin of 10.28%. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period last year, the business earned $0.60 earnings per share. The firm’s revenue for the quarter was up 38.3% compared to the same quarter last year. As a group, research analysts anticipate that Tri Pointe Homes will post 4.68 earnings per share for the current year.

Insider Buying and Selling

In related news, General Counsel David Ch Lee sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $44.28, for a total value of $221,400.00. Following the completion of the transaction, the general counsel now owns 85,792 shares in the company, valued at approximately $3,798,869.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, General Counsel David Ch Lee sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $44.28, for a total value of $221,400.00. Following the completion of the transaction, the general counsel now owns 85,792 shares in the company, valued at approximately $3,798,869.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Glenn J. Keeler sold 24,200 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $46.16, for a total transaction of $1,117,072.00. Following the completion of the transaction, the chief financial officer now owns 149,108 shares of the company’s stock, valued at approximately $6,882,825.28. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Tri Pointe Homes

A number of institutional investors have recently bought and sold shares of the business. Aristides Capital LLC acquired a new stake in Tri Pointe Homes during the 2nd quarter worth $247,000. Truist Financial Corp acquired a new stake in Tri Pointe Homes during the 2nd quarter worth $1,431,000. Quarry LP grew its holdings in shares of Tri Pointe Homes by 123.3% in the 2nd quarter. Quarry LP now owns 2,401 shares of the construction company’s stock valued at $89,000 after buying an additional 1,326 shares during the period. Creative Planning grew its holdings in shares of Tri Pointe Homes by 43.0% in the 2nd quarter. Creative Planning now owns 13,503 shares of the construction company’s stock valued at $503,000 after buying an additional 4,063 shares during the period. Finally, Algert Global LLC grew its holdings in shares of Tri Pointe Homes by 69.9% in the 2nd quarter. Algert Global LLC now owns 296,892 shares of the construction company’s stock valued at $11,059,000 after buying an additional 122,157 shares during the period. Institutional investors and hedge funds own 97.01% of the company’s stock.

About Tri Pointe Homes

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.