TRI Pointe Group, Inc. (NYSE:TPH) Cut to “Sell” at Zacks Investment Research

TRI Pointe Group, Inc. (NYSE:TPH) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday, October 18th.

According to Zacks, “TRI Pointe Group, Inc. is involved in the design, construction and sale of single-family homes. The company’s operating portfolio includes Maracay Homes in Arizona; Pardee Homes in California and Nevada; Quadrant Homes in Washington; Trendmaker Homes in Texas; TRI Pointe Homes in California and Colorado; and Winchester Homes in Maryland and Virginia. TRI Pointe Group, Inc., formerly known as Tri Pointe Homes, Inc., is headquartered in Irvine, California. “

Other analysts have also issued research reports about the stock. TheStreet upgraded shares of TRI Pointe Group from a “c” rating to a “b-” rating in a research note on Monday, July 10th. ValuEngine upgraded shares of TRI Pointe Group from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. BidaskClub upgraded shares of TRI Pointe Group from a “hold” rating to a “buy” rating in a research note on Saturday, July 1st. Barclays PLC lowered shares of TRI Pointe Group from an “overweight” rating to an “equal weight” rating and set a $14.00 price target for the company. in a research note on Tuesday, July 11th. Finally, Citigroup Inc. lowered shares of TRI Pointe Group from a “buy” rating to a “neutral” rating and set a $15.00 price target for the company. in a research note on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $16.30.

TRI Pointe Group (NYSE TPH) opened at 16.97 on Wednesday. TRI Pointe Group has a 12-month low of $10.35 and a 12-month high of $17.20. The company has a market cap of $2.57 billion, a P/E ratio of 20.15 and a beta of 1.68. The firm’s 50 day moving average is $13.92 and its 200 day moving average is $13.15.

TRI Pointe Group (NYSE:TPH) last announced its quarterly earnings results on Wednesday, October 25th. The construction company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.03. The firm had revenue of $717.40 million for the quarter, compared to analysts’ expectations of $706.65 million. TRI Pointe Group had a net margin of 6.97% and a return on equity of 9.32%. TRI Pointe Group’s revenue was up 24.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.22 earnings per share. Equities research analysts anticipate that TRI Pointe Group will post $1.33 EPS for the current fiscal year.

TRI Pointe Group declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, July 26th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the construction company to buy shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.

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In other news, CFO Michael D. Grubbs sold 300,000 shares of the business’s stock in a transaction on Thursday, October 19th. The shares were sold at an average price of $15.02, for a total transaction of $4,506,000.00. Following the completion of the transaction, the chief financial officer now owns 163,828 shares of the company’s stock, valued at $2,460,696.56. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 9.40% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. World Asset Management Inc bought a new stake in TRI Pointe Group in the second quarter worth about $132,000. Shelton Capital Management acquired a new stake in TRI Pointe Group during the 2nd quarter worth about $146,000. Cornerstone Financial Partners LLC acquired a new stake in TRI Pointe Group during the 2nd quarter worth about $148,000. Riverhead Capital Management LLC raised its holdings in TRI Pointe Group by 89.9% during the 2nd quarter. Riverhead Capital Management LLC now owns 12,720 shares of the construction company’s stock worth $168,000 after buying an additional 6,020 shares during the period. Finally, Teacher Retirement System of Texas raised its holdings in TRI Pointe Group by 6.0% during the 2nd quarter. Teacher Retirement System of Texas now owns 12,729 shares of the construction company’s stock worth $168,000 after buying an additional 725 shares during the period.

About TRI Pointe Group

TRI Pointe Group, Inc is a homebuilder company. The Company’s operations are organized in two principal businesses, including homebuilding and financial services. Its homebuilding operation consists of six segments: Maracay Homes, including operations in Arizona; Pardee Homes, consisting of operations in California and Nevada; Quadrant Homes, consisting of operations in Washington; Trendmaker Homes, consisting of operations in Texas; TRI Pointe Homes, consisting of operations in California and Colorado, and Winchester Homes, consisting of operations in Maryland and Virginia.

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