Evercore ISI Cuts Tri Pointe Homes (NYSE:TPH) Price Target to $42.00

Tri Pointe Homes (NYSE:TPH) had its target price trimmed by Evercore ISI from $54.00 to $42.00 in a research report sent to investors on Wednesday,Benzinga reports. The brokerage currently has an outperform rating on the construction company’s stock.

TPH has been the topic of a number of other reports. Wedbush reaffirmed a “neutral” rating and issued a $38.00 price target (down from $44.00) on shares of Tri Pointe Homes in a research note on Tuesday. Oppenheimer decreased their price target on shares of Tri Pointe Homes from $56.00 to $53.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. StockNews.com lowered shares of Tri Pointe Homes from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Finally, Royal Bank of Canada lowered shares of Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from $41.00 to $37.00 in a research note on Wednesday. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $40.60.

Tri Pointe Homes Price Performance

Shares of TPH opened at $30.79 on Wednesday. The business’s 50-day moving average is $36.32 and its two-hundred day moving average is $40.63. The company has a market capitalization of $2.88 billion, a P/E ratio of 6.37, a P/E/G ratio of 0.49 and a beta of 1.64. 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 has a fifty-two week low of $30.25 and a fifty-two week high of $47.78.

Tri Pointe Homes (NYSE:TPH) last posted its earnings results on Tuesday, February 18th. The construction company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.07. Tri Pointe Homes had a net margin of 10.36% and a return on equity of 14.34%. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. Research analysts predict that Tri Pointe Homes will post 4.8 earnings per share for the current year.

Tri Pointe Homes declared that its Board of Directors has approved a stock buyback plan on Wednesday, December 18th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the construction company to reacquire up to 7.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Tri Pointe Homes

In related news, COO Thomas J. Mitchell sold 77,384 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $39.15, for a total value of $3,029,583.60. Following the completion of the sale, the chief operating officer now directly owns 708,159 shares of the company’s stock, valued at $27,724,424.85. The trade was a 9.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of TPH. Pacer Advisors Inc. acquired a new position in Tri Pointe Homes in the fourth quarter valued at $118,407,000. Castlekeep Investment Advisors LLC acquired a new position in Tri Pointe Homes in the fourth quarter valued at $60,261,000. Assenagon Asset Management S.A. increased its stake in shares of Tri Pointe Homes by 260.8% during the third quarter. Assenagon Asset Management S.A. now owns 1,417,263 shares of the construction company’s stock worth $64,216,000 after acquiring an additional 1,024,425 shares during the period. Norges Bank acquired a new position in shares of Tri Pointe Homes during the fourth quarter worth about $14,815,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Tri Pointe Homes during the fourth quarter worth about $13,342,000. 97.01% of the stock is currently owned by institutional investors and hedge funds.

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.