Tri Pointe Homes (NYSE:TPH) Raised to Neutral at Zelman & Associates

Zelman & Associates upgraded shares of Tri Pointe Homes (NYSE:TPH) from an underperform rating to a neutral rating in a report released on Tuesday morning, MarketBeat reports. They currently have $43.00 target price on the construction company’s stock.

Other research analysts have also recently issued research reports about the stock. Royal Bank of Canada boosted their price objective on shares of Tri Pointe Homes from $42.00 to $48.00 and gave the stock an outperform rating in a research report on Friday, July 26th. Wedbush reaffirmed a neutral rating and set a $42.00 price target on shares of Tri Pointe Homes in a research note on Thursday, July 25th. Evercore ISI upgraded Tri Pointe Homes to a strong-buy rating in a report on Friday, July 26th. Finally, Oppenheimer boosted their price objective on Tri Pointe Homes from $46.00 to $54.00 and gave the stock an outperform rating in a report on Friday, July 26th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $46.75.

Tri Pointe Homes Price Performance

Shares of TPH stock opened at $46.01 on Tuesday. Tri Pointe Homes has a 52 week low of $24.18 and a 52 week high of $47.78. The stock has a market capitalization of $4.31 billion, a PE ratio of 12.27, a PEG ratio of 0.73 and a beta of 1.59. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29. The stock’s fifty day moving average is $43.45 and its 200-day moving average is $39.34.

Tri Pointe Homes (NYSE:TPH) last issued its quarterly earnings data on Thursday, July 25th. The construction company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.16. Tri Pointe Homes had a net margin of 10.28% and a return on equity of 14.03%. The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the prior year, the firm earned $0.60 EPS. The company’s revenue was up 38.3% on a year-over-year basis. Equities research analysts expect that Tri Pointe Homes will post 4.68 EPS for the current fiscal year.

Insider Transactions at Tri Pointe Homes

In related news, General Counsel David Ch Lee sold 5,000 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $44.28, for a total value of $221,400.00. Following the completion of the sale, the general counsel now owns 85,792 shares in the company, valued at $3,798,869.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, General Counsel David Ch Lee sold 5,000 shares of Tri Pointe Homes stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $44.28, for a total transaction of $221,400.00. Following the transaction, the general counsel now owns 85,792 shares of the company’s stock, valued at approximately $3,798,869.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Glenn J. Keeler sold 24,200 shares of the business’s stock in a transaction that occurred on 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 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 owned by corporate insiders.

Institutional Trading of Tri Pointe Homes

Hedge funds have recently added to or reduced their stakes in the business. Fidelis Capital Partners LLC acquired a new position in Tri Pointe Homes in the first quarter valued at about $25,000. Gradient Investments LLC acquired a new position in shares of Tri Pointe Homes in the 2nd quarter valued at approximately $30,000. Evermay Wealth Management LLC bought a new stake in Tri Pointe Homes during the 4th quarter worth approximately $35,000. Assetmark Inc. raised its holdings in Tri Pointe Homes by 29,825.0% during the 4th quarter. Assetmark Inc. now owns 1,197 shares of the construction company’s stock worth $42,000 after buying an additional 1,193 shares during the period. Finally, GAMMA Investing LLC lifted its stake in Tri Pointe Homes by 63.1% in the second quarter. GAMMA Investing LLC now owns 1,520 shares of the construction company’s stock valued at $57,000 after buying an additional 588 shares in the last quarter. 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.