Zacks Investment Research upgraded shares of TRI Pointe Group (NYSE:TPH) from a hold rating to a buy rating in a research report report published on Saturday morning. Zacks Investment Research currently has $21.00 price objective on the construction company’s stock.
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. “
Several other research analysts have also weighed in on TPH. B. Riley reaffirmed a buy rating on shares of TRI Pointe Group in a research report on Wednesday, November 1st. Wedbush increased their target price on TRI Pointe Group from $19.00 to $21.00 and gave the stock an outperform rating in a research report on Friday, December 29th. ValuEngine raised TRI Pointe Group from a buy rating to a strong-buy rating in a research report on Sunday, December 31st. Barclays raised TRI Pointe Group from an equal weight rating to an overweight rating and increased their target price for the stock from $17.00 to $21.00 in a research report on Friday, January 5th. Finally, FBR & Co reaffirmed a buy rating and issued a $20.00 target price on shares of TRI Pointe Group in a research report on Thursday, October 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of Buy and an average price target of $18.22.
Shares of TRI Pointe Group (NYSE:TPH) traded up $0.01 on Friday, hitting $19.35. The company had a trading volume of 1,556,100 shares, compared to its average volume of 2,106,217. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.80. The stock has a market cap of $2,910.00, a price-to-earnings ratio of 17.59, a P/E/G ratio of 1.06 and a beta of 1.74. TRI Pointe Group has a twelve month low of $11.31 and a twelve month high of $19.55.
TRI Pointe Group (NYSE:TPH) last issued its earnings results on Wednesday, October 25th. The construction company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.03. The business had revenue of $717.40 million for the quarter, compared to analyst estimates of $706.65 million. TRI Pointe Group had a return on equity of 9.32% and a net margin of 6.97%. The business’s quarterly revenue was up 24.0% on a year-over-year basis. During the same period last year, the company posted $0.22 EPS. equities research analysts forecast that TRI Pointe Group will post 1.37 EPS for the current year.
In related news, VP Bradley William Blank sold 14,725 shares of the stock in a transaction on Monday, November 6th. The stock was sold at an average price of $17.54, for a total value of $258,276.50. Following the completion of the sale, the vice president now directly owns 49,070 shares in the company, valued at approximately $860,687.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Michael D. Grubbs sold 300,000 shares of the stock in a transaction on Thursday, October 19th. The shares were sold at an average price of $15.02, for a total value of $4,506,000.00. Following the completion of the sale, the chief financial officer now owns 163,828 shares of the company’s stock, valued at $2,460,696.56. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,139,281 shares of company stock valued at $19,304,905. 2.20% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in the company. California Public Employees Retirement System grew its stake in shares of TRI Pointe Group by 140.0% during the third quarter. California Public Employees Retirement System now owns 24,000 shares of the construction company’s stock valued at $331,000 after acquiring an additional 14,000 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of TRI Pointe Group during the third quarter valued at about $197,000. Maltese Capital Management LLC acquired a new stake in shares of TRI Pointe Group during the third quarter valued at about $5,662,000. Stifel Financial Corp grew its stake in shares of TRI Pointe Group by 8.0% during the third quarter. Stifel Financial Corp now owns 368,470 shares of the construction company’s stock valued at $5,067,000 after acquiring an additional 27,217 shares in the last quarter. Finally, Thornburg Investment Management Inc. grew its stake in shares of TRI Pointe Group by 1.3% during the third quarter. Thornburg Investment Management Inc. now owns 3,009,911 shares of the construction company’s stock valued at $41,567,000 after acquiring an additional 38,264 shares in the last quarter.
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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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