Tri Pointe Homes (NYSE:TPH) Lifted 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 research note released on Tuesday morning, MarketBeat Ratings reports. The firm currently has $43.00 price objective on the construction company’s stock.

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

Tri Pointe Homes Stock Down 2.8 %

Shares of TPH opened at $44.73 on Tuesday. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30. The firm has a market cap of $4.19 billion, a P/E ratio of 11.93, a price-to-earnings-growth ratio of 0.73 and a beta of 1.59. The company’s 50-day moving average price is $43.52 and its 200 day moving average price is $39.41. Tri Pointe Homes has a 12-month low of $24.18 and a 12-month high of $47.78.

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 the consensus estimate 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 period in the prior year, the business posted $0.60 EPS. The business’s revenue for the quarter was up 38.3% compared to the same quarter last year. On average, sell-side analysts forecast that Tri Pointe Homes will post 4.68 earnings per share for the current year.

Insider Transactions at Tri Pointe Homes

In related news, CFO Glenn J. Keeler sold 24,200 shares of the firm’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 value of $1,117,072.00. Following the sale, the chief financial officer now owns 149,108 shares of the company’s stock, valued at $6,882,825.28. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other 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 transaction of $221,400.00. Following the completion of the sale, the general counsel now owns 85,792 shares in the company, valued at approximately $3,798,869.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Glenn J. Keeler sold 24,200 shares of Tri Pointe Homes stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $46.16, for a total value of $1,117,072.00. Following the sale, the chief financial officer now owns 149,108 shares in the company, valued at approximately $6,882,825.28. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Institutional Trading of Tri Pointe Homes

A number of large investors have recently bought and sold shares of the business. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Tri Pointe Homes in the second quarter valued at about $9,599,000. Aristides Capital LLC acquired a new stake in Tri Pointe Homes during the 2nd quarter worth approximately $247,000. Truist Financial Corp purchased a new position in shares of Tri Pointe Homes in the 2nd quarter valued at approximately $1,431,000. Quarry LP increased its holdings in shares of Tri Pointe Homes by 123.3% in the second quarter. Quarry LP now owns 2,401 shares of the construction company’s stock valued at $89,000 after purchasing an additional 1,326 shares during the period. Finally, Creative Planning raised its stake in shares of Tri Pointe Homes by 43.0% during the second quarter. Creative Planning now owns 13,503 shares of the construction company’s stock worth $503,000 after purchasing an additional 4,063 shares during the last quarter. Institutional investors and hedge funds own 97.01% of the company’s stock.

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.