Tri Pointe Homes (NYSE:TPH) Reaches New 52-Week High at $40.13

Tri Pointe Homes, Inc. (NYSE:TPH)’s share price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $40.13 and last traded at $39.42, with a volume of 156611 shares changing hands. The stock had previously closed at $38.12.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on TPH shares. StockNews.com upgraded Tri Pointe Homes from a “hold” rating to a “buy” rating in a report on Friday, April 26th. Royal Bank of Canada raised their price target on shares of Tri Pointe Homes from $38.00 to $42.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Wedbush reaffirmed a “neutral” rating and issued a $35.00 price objective on shares of Tri Pointe Homes in a research note on Thursday, April 25th. Finally, Oppenheimer raised their target price on Tri Pointe Homes from $41.00 to $46.00 and gave the company an “outperform” rating in a report on Friday, April 26th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $40.60.

Tri Pointe Homes Trading Up 2.3 %

The company’s fifty day moving average is $36.05 and its 200-day moving average is $33.37. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $3.70 billion, a P/E ratio of 10.40, a P/E/G ratio of 0.65 and a beta of 1.54.

Tri Pointe Homes (NYSE:TPH) last released its earnings results on Thursday, April 25th. The construction company reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.34. The firm had revenue of $918.40 million during the quarter, compared to analyst estimates of $867.77 million. Tri Pointe Homes had a net margin of 9.62% and a return on equity of 12.39%. The business’s revenue was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.73 EPS. As a group, sell-side analysts anticipate that Tri Pointe Homes, Inc. will post 4.49 earnings per share for the current fiscal year.

Insider Activity at Tri Pointe Homes

In other Tri Pointe Homes news, COO Thomas J. Mitchell sold 51,533 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $35.22, for a total value of $1,814,992.26. Following the sale, the chief operating officer now owns 785,543 shares of the company’s stock, valued at approximately $27,666,824.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 2.00% of the stock is owned by corporate insiders.

Institutional Trading of Tri Pointe Homes

A number of hedge funds have recently bought and sold shares of the stock. Pacer Advisors Inc. raised its position in shares of Tri Pointe Homes by 63.8% during the fourth quarter. Pacer Advisors Inc. now owns 3,913,521 shares of the construction company’s stock valued at $138,539,000 after buying an additional 1,524,401 shares during the last quarter. American Century Companies Inc. increased its stake in Tri Pointe Homes by 21.7% during the third quarter. American Century Companies Inc. now owns 1,683,362 shares of the construction company’s stock valued at $46,040,000 after acquiring an additional 300,383 shares during the period. Invesco Ltd. raised its holdings in Tri Pointe Homes by 15.1% in the 3rd quarter. Invesco Ltd. now owns 1,042,993 shares of the construction company’s stock valued at $28,526,000 after acquiring an additional 137,175 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Tri Pointe Homes by 2.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,013,767 shares of the construction company’s stock worth $35,887,000 after acquiring an additional 27,260 shares during the period. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Tri Pointe Homes by 26.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 727,045 shares of the construction company’s stock worth $19,885,000 after purchasing an additional 153,994 shares in the last quarter. 97.01% of the stock is owned by institutional investors.

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.