Tri Pointe Homes (NYSE:TPH) Sets New 1-Year High – Still a Buy?

Tri Pointe Homes Inc. (NYSE:TPH) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $46.81 and last traded at $46.7230, with a volume of 1047 shares traded. The stock had previously closed at $46.70.

Wall Street Analyst Weigh In

TPH has been the subject of several recent research reports. Citizens Jmp began coverage on shares of Tri Pointe Homes in a research report on Wednesday, January 7th. They set a “market outperform” rating and a $46.00 target price for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tri Pointe Homes in a research note on Tuesday, January 27th. Oppenheimer downgraded Tri Pointe Homes from an “outperform” rating to a “market perform” rating in a report on Friday, February 13th. Royal Bank Of Canada increased their target price on Tri Pointe Homes from $31.00 to $47.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 17th. Finally, Citigroup started coverage on Tri Pointe Homes in a report on Wednesday, January 7th. They set an “outperform” rating on the stock. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $42.50.

Tri Pointe Homes Trading Down 0.1%

The company’s fifty day simple moving average is $42.68 and its two-hundred day simple moving average is $36.34. The company has a market capitalization of $3.97 billion, a price-to-earnings ratio of 17.16, a price-to-earnings-growth ratio of 1.39 and a beta of 1.29. The company has a quick ratio of 2.63, a current ratio of 2.63 and a debt-to-equity ratio of 0.33.

Tri Pointe Homes (NYSE:TPH) last announced its quarterly earnings results on Wednesday, February 25th. The construction company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.02. The company had revenue of $972.63 million during the quarter, compared to analyst estimates of $917.86 million. Tri Pointe Homes had a net margin of 7.09% and a return on equity of 7.96%. The firm’s revenue was down 22.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.37 EPS. Research analysts forecast that Tri Pointe Homes Inc. will post 3.58 earnings per share for the current fiscal year.

Insider Transactions at Tri Pointe Homes

In other Tri Pointe Homes news, Director Steven J. Gilbert sold 50,000 shares of the stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $46.33, for a total value of $2,316,500.00. Following the completion of the sale, the director directly owned 30,330 shares in the company, valued at $1,405,188.90. This represents a 62.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Tri Pointe Homes

Several institutional investors have recently modified their holdings of TPH. Royal Bank of Canada increased its stake in Tri Pointe Homes by 19.1% during the 1st quarter. Royal Bank of Canada now owns 72,740 shares of the construction company’s stock worth $2,322,000 after purchasing an additional 11,668 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in 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 valued at $1,752,000 after buying an additional 2,398 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Tri Pointe Homes by 37.5% in the second quarter. JPMorgan Chase & Co. now owns 877,599 shares of the construction company’s stock valued at $28,039,000 after buying an additional 239,238 shares during the period. Legal & General Group Plc increased its position in shares of Tri Pointe Homes by 1.9% during the second quarter. Legal & General Group Plc now owns 265,762 shares of the construction company’s stock worth $8,491,000 after acquiring an additional 5,066 shares in the last quarter. Finally, Prudential Financial Inc. increased its position in shares of Tri Pointe Homes by 3.1% during the second quarter. Prudential Financial Inc. now owns 94,465 shares of the construction company’s stock worth $3,018,000 after acquiring an additional 2,826 shares in the last quarter. 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.