Tri Pointe Homes (NYSE:TPH) Reaches New 1-Year High – Here’s Why

Tri Pointe Homes Inc. (NYSE:TPH) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $46.99 and last traded at $46.9850, with a volume of 517803 shares changing hands. The stock had previously closed at $46.95.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Oppenheimer lowered shares of Tri Pointe Homes from an “outperform” rating to a “market perform” rating in a research report on Friday, February 13th. Weiss Ratings lowered shares of Tri Pointe Homes from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday. Finally, Royal Bank Of Canada lifted their price objective on Tri Pointe Homes from $31.00 to $47.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 17th. Three research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Tri Pointe Homes currently has an average rating of “Hold” and an average target price of $42.50.

Tri Pointe Homes Stock Performance

The company has a market cap of $4.00 billion, a price-to-earnings ratio of 22.36, a PEG ratio of 1.37 and a beta of 1.16. The firm’s 50 day simple moving average is $46.66 and its 200-day simple moving average is $38.65. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.15 and a current ratio of 2.15.

Tri Pointe Homes (NYSE:TPH) last issued its earnings results on Wednesday, April 29th. The construction company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.22). The business had revenue of $507.90 million during the quarter, compared to analyst estimates of $495.67 million. Tri Pointe Homes had a net margin of 5.77% and a return on equity of 6.24%. Tri Pointe Homes’s quarterly revenue was down 29.7% on a year-over-year basis. During the same quarter last year, the company earned $0.70 earnings per share. On average, sell-side analysts predict that Tri Pointe Homes Inc. will post 2.64 EPS for the current year.

Insider Buying and Selling

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 shares were 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 owned 30,330 shares in the company, valued at approximately $1,405,188.90. This represents a 62.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Tri Pointe Homes

A number of large investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its position in Tri Pointe Homes by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,104,429 shares of the construction company’s stock worth $192,108,000 after buying an additional 24,511 shares in the last quarter. State Street Corp grew its holdings in Tri Pointe Homes by 1.0% in the 2nd quarter. State Street Corp now owns 4,556,255 shares of the construction company’s stock valued at $145,572,000 after buying an additional 44,574 shares in the last quarter. American Century Companies Inc. grew its holdings in Tri Pointe Homes by 10.1% in the 3rd quarter. American Century Companies Inc. now owns 2,755,767 shares of the construction company’s stock valued at $93,613,000 after buying an additional 252,949 shares in the last quarter. Boston Partners increased its stake in shares of Tri Pointe Homes by 9.2% in the 4th quarter. Boston Partners now owns 1,170,244 shares of the construction company’s stock worth $36,835,000 after acquiring an additional 98,261 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in shares of Tri Pointe Homes by 34.1% in the 3rd quarter. Bank of America Corp DE now owns 1,099,955 shares of the construction company’s stock worth $37,365,000 after acquiring an additional 279,979 shares during the last quarter. 97.01% of the stock is currently owned by hedge funds and other institutional investors.

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.