Cornercap Investment Counsel Inc. Takes Position in Tri Pointe Homes, Inc. (NYSE:TPH)

Cornercap Investment Counsel Inc. acquired a new position in shares of Tri Pointe Homes, Inc. (NYSE:TPH) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 10,164 shares of the construction company’s stock, valued at approximately $369,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its position in Tri Pointe Homes by 11.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,165,651 shares of the construction company’s stock valued at $52,816,000 after buying an additional 115,099 shares during the last quarter. Citigroup Inc. raised its holdings in Tri Pointe Homes by 16.1% during the 3rd quarter. Citigroup Inc. now owns 189,378 shares of the construction company’s stock worth $8,581,000 after purchasing an additional 26,253 shares during the last quarter. Cerity Partners LLC lifted its position in Tri Pointe Homes by 113.9% during the 3rd quarter. Cerity Partners LLC now owns 63,847 shares of the construction company’s stock valued at $2,893,000 after purchasing an additional 33,992 shares during the period. Daiwa Securities Group Inc. boosted its stake in shares of Tri Pointe Homes by 77.8% in the 3rd quarter. Daiwa Securities Group Inc. now owns 12,800 shares of the construction company’s stock valued at $580,000 after purchasing an additional 5,600 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Tri Pointe Homes by 1.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 235,670 shares of the construction company’s stock valued at $10,678,000 after purchasing an additional 3,488 shares during the last quarter. 97.01% of the stock is currently owned by institutional investors and hedge funds.

Tri Pointe Homes Stock Performance

NYSE TPH opened at $31.88 on Friday. The company has a current ratio of 2.24, a quick ratio of 1.64 and a debt-to-equity ratio of 0.28. The firm’s fifty day moving average price is $33.86 and its two-hundred day moving average price is $38.68. The firm has a market capitalization of $2.92 billion, a P/E ratio of 6.60, a price-to-earnings-growth ratio of 0.67 and a beta of 1.71. Tri Pointe Homes, Inc. has a 1 year low of $30.25 and a 1 year high of $47.78.

Tri Pointe Homes (NYSE:TPH) last announced its earnings results on Tuesday, February 18th. The construction company reported $1.37 EPS 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 net margin of 10.36% and a return on equity of 14.34%. As a group, research analysts anticipate that Tri Pointe Homes, Inc. will post 3.58 EPS for the current year.

Tri Pointe Homes announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, December 18th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the construction company to purchase up to 7.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

TPH has been the topic of a number of recent analyst reports. Evercore ISI lowered their price objective on shares of Tri Pointe Homes from $54.00 to $42.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. Royal Bank of Canada lowered Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $41.00 to $37.00 in a research report on Wednesday, February 19th. StockNews.com lowered Tri Pointe Homes from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Oppenheimer dropped their target price on shares of Tri Pointe Homes from $53.00 to $43.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. Finally, Wedbush reiterated a “neutral” rating and issued a $38.00 price target (down previously from $44.00) on shares of Tri Pointe Homes in a report on Tuesday, February 18th. Four analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $40.60.

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.