Wedbush Reiterates “Neutral” Rating for Tri Pointe Homes (NYSE:TPH)

Tri Pointe Homes (NYSE:TPH)‘s stock had its “neutral” rating restated by Wedbush in a research note issued on Tuesday,RTT News reports. They currently have a $38.00 price objective on the construction company’s stock, down from their previous price objective of $44.00. Wedbush’s price objective indicates a potential upside of 17.69% from the company’s current price.

A number of other research analysts have also recently commented on the stock. Oppenheimer decreased their target price on shares of Tri Pointe Homes from $56.00 to $53.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Royal Bank of Canada cut their target price on Tri Pointe Homes from $48.00 to $45.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Finally, StockNews.com cut Tri Pointe Homes from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $44.75.

Tri Pointe Homes Trading Down 10.9 %

Tri Pointe Homes stock traded down $3.93 during trading on Tuesday, reaching $32.29. 1,635,882 shares of the company were exchanged, compared to its average volume of 703,012. The stock’s 50 day simple moving average is $36.87 and its two-hundred day simple moving average is $40.84. The company has a market capitalization of $3.02 billion, a P/E ratio of 6.70, a PEG ratio of 0.59 and a beta of 1.64. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.64 and a quick ratio of 1.64. Tri Pointe Homes has a 52-week low of $32.17 and a 52-week high of $47.78.

Tri Pointe Homes (NYSE:TPH) last released its quarterly earnings data on Tuesday, February 18th. The construction company reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.07. Tri Pointe Homes had a return on equity of 14.83% and a net margin of 10.41%. On average, equities research analysts expect that Tri Pointe Homes will post 4.72 earnings per share for the current fiscal year.

Tri Pointe Homes announced that its board has initiated a share repurchase plan on Wednesday, December 18th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the construction company to buy up to 7.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Tri Pointe Homes

In related news, COO Thomas J. Mitchell sold 77,384 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $39.15, for a total value of $3,029,583.60. Following the transaction, the chief operating officer now owns 708,159 shares of the company’s stock, valued at $27,724,424.85. This represents a 9.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 2.00% of the company’s stock.

Institutional Trading of Tri Pointe Homes

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in Tri Pointe Homes by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 11,573,813 shares of the construction company’s stock worth $419,666,000 after purchasing an additional 143,365 shares during the last quarter. Pacer Advisors Inc. purchased a new position in shares of Tri Pointe Homes in the 4th quarter valued at $118,407,000. Geode Capital Management LLC raised its stake in Tri Pointe Homes by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 2,529,823 shares of the construction company’s stock worth $91,748,000 after acquiring an additional 44,160 shares in the last quarter. GW&K Investment Management LLC lifted its position in Tri Pointe Homes by 5.3% in the fourth quarter. GW&K Investment Management LLC now owns 2,036,689 shares of the construction company’s stock valued at $73,850,000 after acquiring an additional 102,187 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in Tri Pointe Homes by 14.0% in the fourth quarter. American Century Companies Inc. now owns 1,946,471 shares of the construction company’s stock valued at $70,579,000 after acquiring an additional 238,807 shares in the last quarter. 97.01% of the stock is owned by hedge funds and other institutional investors.

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.