Tri Pointe Homes (NYSE:TPH) Reaches New 12-Month High – What’s Next?

Tri Pointe Homes Inc. (NYSE:TPH) hit a new 52-week high during trading on Tuesday . The stock traded as high as $46.76 and last traded at $46.6850, with a volume of 3048935 shares trading hands. The stock had previously closed at $46.62.

Wall Street Analysts Forecast Growth

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

Tri Pointe Homes Trading Up 0.1%

The firm has a market cap of $3.97 billion, a PE ratio of 17.16, a price-to-earnings-growth ratio of 1.39 and a beta of 1.33. The company has a 50-day simple moving average of $41.07 and a 200 day simple moving average of $35.82. The company has a current ratio of 2.63, a quick ratio of 2.63 and a debt-to-equity ratio of 0.33.

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

Insiders Place Their Bets

In other Tri Pointe Homes news, Director Steven J. Gilbert sold 50,000 shares of the company’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $46.33, for a total value of $2,316,500.00. Following the completion of the transaction, the director owned 30,330 shares in the company, valued at approximately $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 SEC, which is accessible through this link. Insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Tri Pointe Homes

Institutional investors have recently modified their holdings of the business. Lido Advisors LLC increased its stake in shares of Tri Pointe Homes by 3.5% in the 4th quarter. Lido Advisors LLC now owns 9,751 shares of the construction company’s stock valued at $326,000 after purchasing an additional 327 shares in the last quarter. Harbor Capital Advisors Inc. boosted its position in Tri Pointe Homes by 45.2% during the third quarter. Harbor Capital Advisors Inc. now owns 1,108 shares of the construction company’s stock worth $38,000 after purchasing an additional 345 shares in the last quarter. Rockefeller Capital Management L.P. grew its holdings in Tri Pointe Homes by 29.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,615 shares of the construction company’s stock valued at $51,000 after purchasing an additional 367 shares during the period. Federated Hermes Inc. grew its holdings in Tri Pointe Homes by 0.6% in the third quarter. Federated Hermes Inc. now owns 63,082 shares of the construction company’s stock valued at $2,143,000 after purchasing an additional 373 shares during the period. Finally, Coldstream Capital Management Inc. increased its position in shares of Tri Pointe Homes by 3.9% in the fourth quarter. Coldstream Capital Management Inc. now owns 10,507 shares of the construction company’s stock valued at $331,000 after buying an additional 394 shares in the last quarter. 97.01% of the stock is currently owned by institutional investors and hedge funds.

Tri Pointe Homes Company Profile

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.