Tri Pointe Homes (NYSE:TPH) Price Target Lowered to $42.00 at Evercore ISI

Tri Pointe Homes (NYSE:TPH) had its price target lowered by research analysts at Evercore ISI from $54.00 to $42.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the construction company’s stock. Evercore ISI’s target price would indicate a potential upside of 36.18% from the company’s current price.

Other research analysts also recently issued reports about the company. Oppenheimer reduced their target price on Tri Pointe Homes from $56.00 to $53.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Wedbush restated a “neutral” rating and issued a $38.00 target price (down from $44.00) on shares of Tri Pointe Homes in a report on Tuesday. StockNews.com cut Tri Pointe Homes from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. Finally, Royal Bank of Canada cut Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and lowered their price target for the stock from $41.00 to $37.00 in a report on Wednesday. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $42.60.

Tri Pointe Homes Price Performance

Shares of TPH stock traded down $1.44 during trading hours on Wednesday, hitting $30.84. 558,262 shares of the company’s stock were exchanged, compared to its average volume of 695,689. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.28. The firm has a market cap of $2.89 billion, a P/E ratio of 6.40, a P/E/G ratio of 0.58 and a beta of 1.64. The firm has a 50 day moving average of $36.69 and a two-hundred day moving average of $40.76. Tri Pointe Homes has a fifty-two week low of $30.67 and a fifty-two week high of $47.78.

Tri Pointe Homes (NYSE:TPH) last announced its earnings results on Tuesday, February 18th. The construction company reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.07. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.22 billion. Tri Pointe Homes had a return on equity of 14.83% and a net margin of 10.41%. Sell-side analysts forecast that Tri Pointe Homes will post 4.72 EPS for the current year.

Tri Pointe Homes declared that its Board of Directors has initiated a stock buyback plan on Wednesday, December 18th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the construction company to buy up to 7.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Insider Activity at Tri Pointe Homes

In related news, COO Thomas J. Mitchell sold 77,384 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $39.15, for a total value of $3,029,583.60. Following the transaction, the chief operating officer now owns 708,159 shares in the company, valued at $27,724,424.85. The trade was a 9.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 2.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tri Pointe Homes

Several institutional investors have recently added to or reduced their stakes in TPH. Pacer Advisors Inc. acquired a new position in Tri Pointe Homes in the 4th quarter valued at about $118,407,000. Castlekeep Investment Advisors LLC acquired a new position in Tri Pointe Homes in the 4th quarter valued at $60,261,000. Assenagon Asset Management S.A. raised its holdings in Tri Pointe Homes by 260.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,417,263 shares of the construction company’s stock valued at $64,216,000 after acquiring an additional 1,024,425 shares during the last quarter. Norges Bank acquired a new position in Tri Pointe Homes in the 4th quarter valued at $14,815,000. Finally, Raymond James Financial Inc. acquired a new position in Tri Pointe Homes in the 4th quarter valued at $13,342,000. Institutional investors and hedge funds own 97.01% of the company’s stock.

About Tri Pointe Homes

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.