Exchange Traded Concepts LLC Raises Stock Position in Tri Pointe Homes Inc. $TPH

Exchange Traded Concepts LLC increased its position in shares of Tri Pointe Homes Inc. (NYSE:TPH) by 6.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 34,026 shares of the construction company’s stock after purchasing an additional 1,954 shares during the period. Exchange Traded Concepts LLC’s holdings in Tri Pointe Homes were worth $1,087,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. American Century Companies Inc. boosted its stake in shares of Tri Pointe Homes by 13.5% during the 1st quarter. American Century Companies Inc. now owns 2,209,166 shares of the construction company’s stock worth $70,517,000 after purchasing an additional 262,695 shares during the period. LSV Asset Management boosted its stake in shares of Tri Pointe Homes by 4.8% during the 1st quarter. LSV Asset Management now owns 1,762,922 shares of the construction company’s stock worth $56,272,000 after purchasing an additional 80,198 shares during the period. Nuveen LLC purchased a new position in shares of Tri Pointe Homes during the 1st quarter worth about $43,906,000. Allianz Asset Management GmbH boosted its stake in shares of Tri Pointe Homes by 54.8% during the 1st quarter. Allianz Asset Management GmbH now owns 1,255,057 shares of the construction company’s stock worth $40,061,000 after purchasing an additional 444,153 shares during the period. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Tri Pointe Homes by 23.3% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,114,358 shares of the construction company’s stock worth $35,570,000 after purchasing an additional 210,810 shares during the period. 97.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TPH has been the subject of several research reports. Wedbush reissued an “outperform” rating and issued a $43.00 price objective on shares of Tri Pointe Homes in a research report on Friday, July 25th. Evercore ISI lowered their price objective on shares of Tri Pointe Homes from $39.00 to $38.00 and set an “outperform” rating for the company in a research report on Friday, July 25th. Wall Street Zen raised shares of Tri Pointe Homes from a “sell” rating to a “hold” rating in a research report on Saturday, August 30th. Finally, Wolfe Research lowered shares of Tri Pointe Homes from an “outperform” rating to a “peer perform” rating in a report on Sunday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Tri Pointe Homes currently has an average rating of “Moderate Buy” and an average price target of $40.25.

Tri Pointe Homes Price Performance

Shares of NYSE TPH opened at $33.58 on Tuesday. The firm has a 50-day simple moving average of $34.20 and a 200-day simple moving average of $32.22. The stock has a market capitalization of $3.04 billion, a price-to-earnings ratio of 8.54, a price-to-earnings-growth ratio of 0.92 and a beta of 1.27. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.28. Tri Pointe Homes Inc. has a 52 week low of $27.90 and a 52 week high of $46.91.

Tri Pointe Homes (NYSE:TPH) last issued its earnings results on Thursday, July 24th. The construction company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.11. Tri Pointe Homes had a net margin of 9.22% and a return on equity of 11.33%. The business had revenue of $884.01 million during the quarter, compared to analysts’ expectations of $810.77 million. During the same period in the prior year, the business earned $1.25 earnings per share. The company’s quarterly revenue was down 22.3% compared to the same quarter last year. On average, equities analysts predict that Tri Pointe Homes Inc. will post 3.58 earnings per share for the current fiscal year.

Tri Pointe Homes declared that its Board of Directors has approved a share repurchase plan on Thursday, July 24th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the construction company to purchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

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.