Tri Pointe Homes (NYSE:TPH) Shares Gap Up – Time to Buy?

Tri Pointe Homes Inc. (NYSE:TPHGet Free Report) shares gapped up prior to trading on Friday . The stock had previously closed at $36.57, but opened at $46.33. Tri Pointe Homes shares last traded at $46.3550, with a volume of 6,238,501 shares.

Tri Pointe Homes News Summary

Here are the key news stories impacting Tri Pointe Homes this week:

Wall Street Analysts Forecast Growth

A number of research analysts have commented on TPH shares. Citigroup assumed coverage on Tri Pointe Homes in a report on Wednesday, January 7th. They set an “outperform” rating on the stock. Royal Bank Of Canada set a $31.00 price objective on shares of Tri Pointe Homes in a report on Friday, January 9th. Weiss Ratings reissued a “hold (c)” rating on shares of Tri Pointe Homes in a report on Tuesday, January 27th. Oppenheimer cut shares of Tri Pointe Homes from an “outperform” rating to a “market perform” rating in a report on Friday. Finally, Citizens Jmp assumed coverage on Tri Pointe Homes in a research report on Wednesday, January 7th. They set a “market outperform” rating and a $46.00 price objective for the company. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $39.40.

Check Out Our Latest Stock Analysis on TPH

Tri Pointe Homes Price Performance

The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.01 and a current ratio of 2.01. The company’s 50 day moving average price is $33.89 and its 200-day moving average price is $33.60. The company has a market cap of $3.99 billion, a price-to-earnings ratio of 13.69, a PEG ratio of 1.38 and a beta of 1.39.

Institutional Trading of Tri Pointe Homes

Hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada increased its stake in Tri Pointe Homes by 19.1% in the 1st quarter. Royal Bank of Canada now owns 72,740 shares of the construction company’s stock valued at $2,322,000 after buying an additional 11,668 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Tri Pointe Homes by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,879 shares of the construction company’s stock worth $1,752,000 after acquiring an additional 2,398 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Tri Pointe Homes by 16.6% during the second quarter. Blue Trust Inc. now owns 2,982 shares of the construction company’s stock worth $95,000 after acquiring an additional 424 shares in the last quarter. CWM LLC raised its holdings in shares of Tri Pointe Homes by 1,190.9% during the second quarter. CWM LLC now owns 49,017 shares of the construction company’s stock worth $1,566,000 after acquiring an additional 45,220 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its position in Tri Pointe Homes by 5.4% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 9,772 shares of the construction company’s stock valued at $312,000 after purchasing an additional 500 shares during the last quarter. 97.01% of the stock is owned by hedge funds and other institutional investors.

Tri Pointe Homes Company Profile

(Get Free Report)

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.

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