Tri Pointe Homes (NYSE:TPH) Shares Gap Down on Analyst Downgrade

Shares of Tri Pointe Homes, Inc. (NYSE:TPH) gapped down prior to trading on Wednesday after Oppenheimer lowered their price target on the stock from $53.00 to $43.00. The stock had previously closed at $32.28, but opened at $31.00. Oppenheimer currently has an outperform rating on the stock. Tri Pointe Homes shares last traded at $31.63, with a volume of 108,549 shares trading hands.

Other research analysts have also recently issued research reports about the stock. Evercore ISI lowered their price target on shares of Tri Pointe Homes from $54.00 to $42.00 and set an “outperform” rating for the company in a report on Wednesday. StockNews.com cut shares of Tri Pointe Homes from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. Wedbush reiterated a “neutral” rating and set a $38.00 price target (down previously from $44.00) on shares of Tri Pointe Homes in a report on Tuesday. Finally, Royal Bank of Canada cut shares of 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 research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $40.60.

Insider Transactions at Tri Pointe Homes

In other news, COO Thomas J. Mitchell sold 77,384 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $39.15, for a total transaction of $3,029,583.60. Following the completion of the sale, the chief operating officer now owns 708,159 shares in the company, valued at approximately $27,724,424.85. The trade was a 9.85 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.00% of the company’s stock.

Institutional Trading of Tri Pointe Homes

Several institutional investors have recently modified their holdings of the stock. Mackenzie Financial Corp lifted its position in shares of Tri Pointe Homes by 129.1% during the 4th quarter. Mackenzie Financial Corp now owns 51,968 shares of the construction company’s stock worth $1,884,000 after buying an additional 29,281 shares during the last quarter. Castlekeep Investment Advisors LLC purchased a new stake in shares of Tri Pointe Homes during the 4th quarter worth approximately $1,642,000. PharVision Advisers LLC purchased a new stake in shares of Tri Pointe Homes during the 4th quarter worth approximately $242,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Tri Pointe Homes by 20.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 284,527 shares of the construction company’s stock worth $10,317,000 after buying an additional 48,857 shares during the last quarter. Finally, Voloridge Investment Management LLC raised its position in Tri Pointe Homes by 44.9% in the 4th quarter. Voloridge Investment Management LLC now owns 495,976 shares of the construction company’s stock valued at $17,984,000 after purchasing an additional 153,758 shares during the last quarter. Hedge funds and other institutional investors own 97.01% of the company’s stock.

Tri Pointe Homes Stock Performance

The firm’s 50-day moving average is $36.32 and its 200 day moving average is $40.63. The stock has a market cap of $2.88 billion, a PE ratio of 6.37, a P/E/G ratio of 0.49 and a beta of 1.64. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.64 and a current ratio of 2.24.

Tri Pointe Homes (NYSE:TPH) last released its quarterly earnings results on Tuesday, February 18th. The construction company reported $1.37 EPS for the quarter, beating the consensus estimate of $1.30 by $0.07. Tri Pointe Homes had a net margin of 10.36% and a return on equity of 14.34%. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.22 billion. As a group, research analysts anticipate that Tri Pointe Homes, Inc. will post 4.8 EPS for the current year.

Tri Pointe Homes announced that its board has approved a stock repurchase plan on Wednesday, December 18th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the construction company to reacquire up to 7.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

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.