Tri Pointe Homes (NYSE:TPH) Reaches New 52-Week Low – What’s Next?

Tri Pointe Homes, Inc. (NYSE:TPH) shares hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $27.50 and last traded at $29.50, with a volume of 452 shares. The stock had previously closed at $29.30.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TPH. Wedbush reaffirmed a “neutral” rating and set a $38.00 price objective (down previously from $44.00) on shares of Tri Pointe Homes in a research note on Tuesday, February 18th. Royal Bank of Canada cut Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and decreased their price objective for the company from $41.00 to $37.00 in a report on Wednesday, February 19th. StockNews.com lowered Tri Pointe Homes from a “buy” rating to a “hold” rating in a research note 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 for the company in a report on Wednesday, February 19th. Finally, Seaport Res Ptn raised shares of Tri Pointe Homes from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 6th. 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 stock. Based on data from MarketBeat.com, Tri Pointe Homes currently has an average rating of “Moderate Buy” and a consensus price target of $40.60.

Tri Pointe Homes Price Performance

The stock has a market capitalization of $2.70 billion, a price-to-earnings ratio of 6.09, a P/E/G ratio of 0.67 and a beta of 1.44. The company has a quick ratio of 1.64, a current ratio of 2.24 and a debt-to-equity ratio of 0.28. The stock has a fifty day moving average of $31.96 and a 200-day moving average of $37.35.

Tri Pointe Homes (NYSE:TPH) last posted its quarterly earnings data on Tuesday, February 18th. The construction company reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.07. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. Tri Pointe Homes had a net margin of 10.36% and a return on equity of 14.34%. On average, equities research analysts predict that Tri Pointe Homes, Inc. will post 3.58 EPS for the current fiscal year.

Tri Pointe Homes declared that its Board of Directors has initiated a share repurchase program on Wednesday, December 18th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the construction company to purchase up to 7.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On Tri Pointe Homes

Hedge funds have recently added to or reduced their stakes in the company. MML Investors Services LLC purchased a new position in Tri Pointe Homes in the third quarter worth $246,000. Barclays PLC grew its holdings in Tri Pointe Homes by 103.7% during the 3rd quarter. Barclays PLC now owns 209,239 shares of the construction company’s stock valued at $9,480,000 after buying an additional 106,543 shares during the last quarter. Geode Capital Management LLC increased its position in Tri Pointe Homes by 3.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,485,663 shares of the construction company’s stock worth $112,644,000 after purchasing an additional 76,830 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Tri Pointe Homes during the third quarter valued at approximately $343,000. Finally, Franklin Resources Inc. boosted its stake in Tri Pointe Homes by 1.4% in the 3rd quarter. Franklin Resources Inc. now owns 712,673 shares of the construction company’s stock worth $31,971,000 after buying an additional 9,542 shares during the last quarter. Institutional investors and hedge funds own 97.01% of the company’s stock.

Tri Pointe Homes Company Profile

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.