Tri Pointe Homes (NYSE:TPH) Reaches New 12-Month High at $46.71

Tri Pointe Homes, Inc. (NYSE:TPH)’s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as $46.71 and last traded at $46.66, with a volume of 306536 shares. The stock had previously closed at $45.62.

Wall Street Analyst Weigh In

Several brokerages have recently commented on TPH. Royal Bank of Canada lifted their price target on shares of Tri Pointe Homes from $38.00 to $42.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. StockNews.com upgraded shares of Tri Pointe Homes from a “hold” rating to a “buy” rating in a report on Friday, April 26th. Oppenheimer boosted their price objective on shares of Tri Pointe Homes from $41.00 to $46.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Finally, Wedbush restated a “neutral” rating and set a $42.00 price objective on shares of Tri Pointe Homes in a report on Thursday. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.00.

Tri Pointe Homes Stock Performance

The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.45. The stock’s fifty day moving average is $39.02 and its 200-day moving average is $37.03. The stock has a market cap of $4.30 billion, a price-to-earnings ratio of 12.09, a PEG ratio of 0.80 and a beta of 1.59.

Tri Pointe Homes (NYSE:TPH) last announced its quarterly earnings results on Thursday, April 25th. The construction company reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.34. Tri Pointe Homes had a net margin of 9.62% and a return on equity of 12.39%. The firm had revenue of $918.40 million for the quarter, compared to analyst estimates of $867.77 million. During the same quarter in the previous year, the firm posted $0.73 earnings per share. The business’s revenue was up 19.5% on a year-over-year basis. On average, analysts forecast that Tri Pointe Homes, Inc. will post 4.49 EPS for the current year.

Insider Buying and Selling at Tri Pointe Homes

In other Tri Pointe Homes news, CEO Douglas F. Bauer sold 56,567 shares of Tri Pointe Homes stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $39.78, for a total value of $2,250,235.26. Following the transaction, the chief executive officer now owns 677,816 shares of the company’s stock, valued at $26,963,520.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.00% of the company’s stock.

Institutional Trading of Tri Pointe Homes

A number of institutional investors have recently made changes to their positions in the business. Oliver Luxxe Assets LLC lifted its position in shares of Tri Pointe Homes by 1.2% in the first quarter. Oliver Luxxe Assets LLC now owns 29,399 shares of the construction company’s stock worth $1,137,000 after purchasing an additional 354 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Tri Pointe Homes by 1.5% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 25,094 shares of the construction company’s stock worth $959,000 after purchasing an additional 376 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Tri Pointe Homes by 31.7% in the second quarter. Blue Trust Inc. now owns 1,774 shares of the construction company’s stock worth $69,000 after purchasing an additional 427 shares in the last quarter. Quadrant Capital Group LLC raised its position in Tri Pointe Homes by 21.5% during the fourth quarter. Quadrant Capital Group LLC now owns 2,748 shares of the construction company’s stock worth $97,000 after acquiring an additional 487 shares in the last quarter. Finally, Diversified Trust Co raised its position in Tri Pointe Homes by 4.2% during the second quarter. Diversified Trust Co now owns 13,308 shares of the construction company’s stock worth $496,000 after acquiring an additional 536 shares in the last quarter. Institutional investors 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.