Tri Pointe Homes (NYSE:TPH) Coverage Initiated by Analysts at Citizens Jmp

Citizens Jmp started coverage on shares of Tri Pointe Homes (NYSE:TPH) in a research report report published on Wednesday morning, Marketbeat.com reports. The brokerage issued a market outperform rating and a $46.00 price objective on the construction company’s stock.

A number of other equities research analysts have also issued reports on the company. Citigroup initiated coverage on Tri Pointe Homes in a research note on Wednesday. They set an “outperform” rating for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Tri Pointe Homes in a research note on Thursday, October 30th. Finally, Evercore ISI reiterated an “in-line” rating and set a $34.00 target price (down from $38.00) on shares of Tri Pointe Homes in a research report on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $40.60.

Tri Pointe Homes Price Performance

TPH stock opened at $30.84 on Wednesday. The stock has a market cap of $2.65 billion, a PE ratio of 9.10, a P/E/G ratio of 0.94 and a beta of 1.35. Tri Pointe Homes has a 12 month low of $27.90 and a 12 month high of $38.96. The company has a 50-day moving average price of $32.36 and a 200 day moving average price of $33.15. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.34.

Tri Pointe Homes (NYSE:TPH) last announced its quarterly earnings data on Thursday, October 23rd. The construction company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.20. Tri Pointe Homes had a net margin of 8.44% and a return on equity of 9.79%. The business had revenue of $836.87 million during the quarter, compared to the consensus estimate of $782.22 million. During the same quarter last year, the firm earned $1.18 earnings per share. The firm’s quarterly revenue was down 26.6% compared to the same quarter last year. Equities research analysts anticipate that Tri Pointe Homes will post 3.58 earnings per share for the current year.

Institutional Investors Weigh In On Tri Pointe Homes

Several large investors have recently modified their holdings of the business. State Street Corp boosted its stake in shares of Tri Pointe Homes by 1.0% during the second quarter. State Street Corp now owns 4,556,255 shares of the construction company’s stock valued at $145,572,000 after purchasing an additional 44,574 shares in the last quarter. American Century Companies Inc. lifted its holdings in Tri Pointe Homes by 10.1% during the third quarter. American Century Companies Inc. now owns 2,755,767 shares of the construction company’s stock worth $93,613,000 after buying an additional 252,949 shares during the period. Bank of America Corp DE boosted its position in Tri Pointe Homes by 34.1% during the 3rd quarter. Bank of America Corp DE now owns 1,099,955 shares of the construction company’s stock valued at $37,365,000 after acquiring an additional 279,979 shares in the last quarter. Boston Partners increased its holdings in shares of Tri Pointe Homes by 30.7% in the 3rd quarter. Boston Partners now owns 1,071,983 shares of the construction company’s stock valued at $36,413,000 after acquiring an additional 251,491 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of Tri Pointe Homes by 14.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,008,454 shares of the construction company’s stock valued at $34,257,000 after acquiring an additional 130,855 shares during the period. Institutional investors own 97.01% of the company’s stock.

About Tri Pointe Homes

Tri Pointe Homes, Inc (NYSE: TPH) is a national homebuilder engaged in the acquisition, development, construction, marketing and sale of single-family detached homes and attached products. The company’s operations span a range of new residential communities, offering customizable floor plans in both tract and luxury segments. Its integrated business model encompasses land sourcing, entitlement, design, construction oversight and in-house customer care and warranty service.

Founded in 2009 through the combination of three regional builders, Tri Pointe Homes has grown into a prominent player across key western U.S.