Park Avenue Securities LLC Takes $236,000 Position in Tri Pointe Homes Inc. $TPH

Park Avenue Securities LLC purchased a new stake in Tri Pointe Homes Inc. (NYSE:TPH) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 7,381 shares of the construction company’s stock, valued at approximately $236,000.

Several other large investors have also recently bought and sold shares of the company. GAMMA Investing LLC raised its position in shares of Tri Pointe Homes by 3,491.2% during the first quarter. GAMMA Investing LLC now owns 63,457 shares of the construction company’s stock worth $1,988,000 after acquiring an additional 61,690 shares during the last quarter. Signet Financial Management LLC increased its position in Tri Pointe Homes by 0.7% in the first quarter. Signet Financial Management LLC now owns 132,046 shares of the construction company’s stock worth $4,215,000 after purchasing an additional 960 shares during the period. SG Americas Securities LLC bought a new stake in Tri Pointe Homes during the 1st quarter worth about $300,000. Assenagon Asset Management S.A. raised its holdings in 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 last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its position in Tri Pointe Homes by 57.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,880 shares of the construction company’s stock valued at $252,000 after purchasing an additional 2,875 shares during the period. Institutional investors and hedge funds own 97.01% of the company’s stock.

Tri Pointe Homes Price Performance

Shares of NYSE TPH opened at $34.28 on Thursday. The company has a fifty day moving average price of $34.22 and a 200 day moving average price of $32.30. The firm has a market cap of $3.11 billion, a PE ratio of 8.72, a PEG ratio of 0.92 and a beta of 1.30. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.28. Tri Pointe Homes Inc. has a 1-year low of $27.90 and a 1-year high of $46.91.

Tri Pointe Homes (NYSE:TPH) last issued its quarterly 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. The company had revenue of $884.01 million for the quarter, compared to analyst estimates of $810.77 million. Tri Pointe Homes had a return on equity of 11.33% and a net margin of 9.22%.The company’s quarterly revenue was down 22.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.25 earnings per share. Research 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 authorized a stock repurchase program on Thursday, July 24th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the construction company to purchase up to 1.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

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

Tri Pointe Homes 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.