Tri Pointe Homes (NYSE:TPH) Now Covered by Analysts at Oppenheimer

Oppenheimer assumed coverage on shares of Tri Pointe Homes (NYSE:TPH – Get Rating) in a research report report published on Wednesday morning, The Fly reports. The firm issued a market perform rating on the construction company’s stock.

A number of other research analysts have also weighed in on the stock. TheStreet raised shares of Tri Pointe Homes from a c+ rating to a b- rating in a research note on Friday, December 9th. B. Riley decreased their target price on shares of Tri Pointe Homes from $20.00 to $17.00 and set a neutral rating on the stock in a research note on Tuesday, October 18th. Finally, StockNews.com started coverage on shares of Tri Pointe Homes in a research note on Wednesday, October 12th. They issued a hold rating on the stock. Four research analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of $18.00.

Tri Pointe Homes Price Performance

NYSE:TPH opened at $20.46 on Wednesday. Tri Pointe Homes has a 52 week low of $14.59 and a 52 week high of $25.61. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $2.06 billion, a PE ratio of 4.16 and a beta of 1.37. The stock’s 50-day moving average price is $18.85 and its 200-day moving average price is $17.77.

Tri Pointe Homes (NYSE:TPH – Get Rating) last issued its quarterly earnings results on Thursday, October 27th. The construction company reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.28. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $982.46 million. Tri Pointe Homes had a net margin of 13.01% and a return on equity of 20.88%. As a group, equities analysts expect that Tri Pointe Homes will post 5.09 EPS for the current fiscal year.

Insider Activity at Tri Pointe Homes

In related news, COO Thomas J. Mitchell sold 94,067 shares of Tri Pointe Homes stock in a transaction that occurred on Thursday, December 1st. The shares were sold at an average price of $18.93, for a total value of $1,780,688.31. Following the completion of the sale, the chief operating officer now owns 371,341 shares in the company, valued at approximately $7,029,485.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Tri Pointe Homes

Several institutional investors have recently modified their holdings of TPH. Echo Street Capital Management LLC grew its stake in shares of Tri Pointe Homes by 1,231.0% in the third quarter. Echo Street Capital Management LLC now owns 7,169,067 shares of the construction company’s stock worth $108,325,000 after acquiring an additional 6,630,440 shares in the last quarter. Balyasny Asset Management LLC grew its stake in shares of Tri Pointe Homes by 404.3% in the third quarter. Balyasny Asset Management LLC now owns 704,772 shares of the construction company’s stock worth $10,649,000 after acquiring an additional 565,011 shares in the last quarter. Varde Management L.P. acquired a new position in shares of Tri Pointe Homes during the second quarter worth $8,739,000. Carlson Capital L P acquired a new position in shares of Tri Pointe Homes during the third quarter worth $7,097,000. Finally, Renaissance Technologies LLC grew its stake in shares of Tri Pointe Homes by 73.2% during the first quarter. Renaissance Technologies LLC now owns 883,736 shares of the construction company’s stock worth $17,745,000 after purchasing an additional 373,400 shares in the last quarter. Institutional investors and hedge funds own 99.41% of the company’s stock.

About Tri Pointe Homes

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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 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, Virginia, and the District of Columbia.