Tri Pointe Homes, Inc. (NYSE:TPH) Receives $45.75 Consensus Target Price from Analysts

Shares of Tri Pointe Homes, Inc. (NYSE:TPH) have been given an average rating of “Moderate Buy” by the five research firms that are currently covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $45.75.

TPH has been the subject of a number of recent analyst reports. Oppenheimer cut their price objective on Tri Pointe Homes from $56.00 to $53.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. StockNews.com cut Tri Pointe Homes from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Royal Bank of Canada cut their price objective on Tri Pointe Homes from $48.00 to $45.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $42.00 price objective on shares of Tri Pointe Homes in a research report on Thursday, October 24th.

Insider Activity

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

Institutional Investors Weigh In On Tri Pointe Homes

Several hedge funds have recently modified their holdings of the company. Raymond James & Associates lifted its holdings in Tri Pointe Homes by 19.2% during the 3rd quarter. Raymond James & Associates now owns 208,566 shares of the construction company’s stock worth $9,450,000 after buying an additional 33,629 shares during the period. Geode Capital Management LLC raised its position in shares of Tri Pointe Homes by 3.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,485,663 shares of the construction company’s stock worth $112,644,000 after acquiring an additional 76,830 shares in the last quarter. Millennium Management LLC raised its position in shares of Tri Pointe Homes by 14.1% in the 2nd quarter. Millennium Management LLC now owns 925,498 shares of the construction company’s stock worth $34,475,000 after acquiring an additional 114,244 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Tri Pointe Homes by 404.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 43,849 shares of the construction company’s stock worth $1,987,000 after acquiring an additional 35,162 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its position in shares of Tri Pointe Homes by 260.8% in the 3rd 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 in the last quarter. Institutional investors and hedge funds own 97.01% of the company’s stock.

Tri Pointe Homes Stock Performance

Shares of NYSE TPH opened at $36.99 on Friday. The stock has a 50 day moving average price of $38.70 and a 200 day moving average price of $41.71. Tri Pointe Homes has a 52 week low of $33.24 and a 52 week high of $47.78. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.64 and a current ratio of 1.64. The stock has a market capitalization of $3.46 billion, a PE ratio of 7.67, a price-to-earnings-growth ratio of 0.60 and a beta of 1.64.

Tri Pointe Homes declared that its Board of Directors has initiated a stock buyback plan on Wednesday, December 18th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the construction company to buy up to 7.3% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

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.