TRI Pointe Group (NYSE:TPH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday, January 6th. The brokerage presently has a $21.00 price target on the construction company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 11.58% from the stock’s previous close.
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 research analysts have also issued research reports about the company. FBR & Co reissued a “buy” rating and set a $20.00 price objective on shares of TRI Pointe Group in a report on Thursday, October 26th. BTIG Research raised TRI Pointe Group from a “sell” rating to a “neutral” rating and set a $15.00 price objective for the company in a report on Thursday, October 26th. Gabelli boosted their price objective on TRI Pointe Group from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, October 26th. Wedbush reissued an “outperform” rating and set a $16.00 price objective (down previously from $18.00) on shares of TRI Pointe Group in a report on Friday, October 20th. Finally, ValuEngine raised TRI Pointe Group from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 31st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. TRI Pointe Group currently has an average rating of “Buy” and a consensus price target of $18.22.
TRI Pointe Group (NYSE TPH) traded down $0.41 during mid-day trading on Friday, reaching $18.82. The company’s stock had a trading volume of 1,440,900 shares, compared to its average volume of 1,855,860. 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 $2,850.00, a price-to-earnings ratio of 17.11, a PEG ratio of 1.00 and a beta of 1.74. TRI Pointe Group has a 1-year low of $11.69 and a 1-year high of $19.55.
TRI Pointe Group (NYSE:TPH) last posted its earnings results on Wednesday, October 25th. The construction company reported $0.48 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.03. The business had revenue of $717.40 million during 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 company’s quarterly revenue was up 24.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.22 EPS. sell-side analysts expect that TRI Pointe Group will post 1.37 EPS for the current fiscal year.
In related news, VP Glenn J. Keeler sold 15,401 shares of the business’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $16.98, for a total value of $261,508.98. Following the completion of the sale, the vice president now owns 36,399 shares in the company, valued at approximately $618,055.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Douglas F. Bauer sold 75,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $18.04, for a total value of $1,353,000.00. Following the completion of the sale, the chief executive officer now owns 289,313 shares of the company’s stock, valued at approximately $5,219,206.52. The disclosure for this sale can be found here. Insiders sold a total of 1,139,281 shares of company stock valued at $19,304,905 in the last 90 days. 2.20% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. lifted its position in TRI Pointe Group by 3.8% in the second quarter. BlackRock Inc. now owns 19,293,793 shares of the construction company’s stock valued at $254,486,000 after purchasing an additional 709,135 shares during the last quarter. Vanguard Group Inc. lifted its position in TRI Pointe Group by 1.6% in the second quarter. Vanguard Group Inc. now owns 12,202,998 shares of the construction company’s stock valued at $160,958,000 after purchasing an additional 192,415 shares during the last quarter. State Street Corp lifted its position in TRI Pointe Group by 9.1% in the second quarter. State Street Corp now owns 6,403,500 shares of the construction company’s stock valued at $84,461,000 after purchasing an additional 536,624 shares during the last quarter. Fuller & Thaler Asset Management Inc. lifted its position in TRI Pointe Group by 1.2% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 3,187,528 shares of the construction company’s stock valued at $44,020,000 after purchasing an additional 36,740 shares during the last quarter. Finally, Thornburg Investment Management Inc. lifted its position in TRI Pointe Group by 1.3% in 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 purchasing an additional 38,264 shares during the last quarter.
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TRI Pointe Group Company Profile
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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