State of Alaska Department of Revenue Buys 2,140 Shares of Tri Pointe Homes Inc. $TPH

State of Alaska Department of Revenue boosted its stake in Tri Pointe Homes Inc. (NYSE:TPH) by 4.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 53,998 shares of the construction company’s stock after purchasing an additional 2,140 shares during the quarter. State of Alaska Department of Revenue owned approximately 0.06% of Tri Pointe Homes worth $1,724,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Smartleaf Asset Management LLC boosted its stake in Tri Pointe Homes by 56.5% in the 1st quarter. Smartleaf Asset Management LLC now owns 2,096 shares of the construction company’s stock worth $67,000 after purchasing an additional 757 shares during the period. GAMMA Investing LLC boosted its position in shares of Tri Pointe Homes by 19.6% during the 2nd quarter. GAMMA Investing LLC now owns 2,377 shares of the construction company’s stock valued at $76,000 after acquiring an additional 389 shares during the last quarter. CWM LLC boosted its position in shares of Tri Pointe Homes by 67.8% during the 1st quarter. CWM LLC now owns 3,797 shares of the construction company’s stock valued at $121,000 after acquiring an additional 1,534 shares during the last quarter. Covestor Ltd boosted its position in shares of Tri Pointe Homes by 327.8% during the 1st quarter. Covestor Ltd now owns 3,884 shares of the construction company’s stock valued at $124,000 after acquiring an additional 2,976 shares during the last quarter. Finally, Banco Bilbao Vizcaya Argentaria S.A. bought a new stake in shares of Tri Pointe Homes during the 1st quarter valued at about $202,000. Institutional investors own 97.01% of the company’s stock.

Tri Pointe Homes Price Performance

TPH opened at $34.67 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.79 and a current ratio of 1.79. Tri Pointe Homes Inc. has a 52-week low of $27.90 and a 52-week high of $46.91. The stock has a market capitalization of $3.14 billion, a PE ratio of 8.82, a price-to-earnings-growth ratio of 0.92 and a beta of 1.30. The stock’s 50 day moving average price is $34.33 and its 200-day moving average price is $32.35.

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

Tri Pointe Homes announced that its board has authorized a stock buyback plan on Thursday, July 24th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the construction company to purchase up to 1.6% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Evercore ISI dropped their price target on 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. Wedbush reiterated an “outperform” rating and set a $43.00 price target on shares of Tri Pointe Homes in a research report on Friday, July 25th. Wolfe Research downgraded Tri Pointe Homes from an “outperform” rating to a “peer perform” rating in a research report on Sunday, July 27th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Tri Pointe Homes in a research report on Saturday, September 27th. Finally, Wall Street Zen raised Tri Pointe Homes from a “sell” rating to a “hold” rating in a research note on Saturday, August 30th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.25.

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.