Royal Bank of Canada initiated coverage on shares of TRI Pointe Group (NYSE:TPH) in a research note published on Wednesday. The firm issued a sector perform rating on the construction company’s stock.
Other equities analysts also recently issued research reports about the stock. Zacks Investment Research upgraded shares of TRI Pointe Group from a hold rating to a buy rating and set a $19.00 price objective for the company in a research report on Saturday, April 28th. ValuEngine downgraded shares of TRI Pointe Group from a strong-buy rating to a buy rating in a research report on Wednesday, May 9th. Zelman & Associates downgraded shares of TRI Pointe Group from a buy rating to a hold rating in a research report on Thursday, June 14th. Gabelli downgraded shares of TRI Pointe Group from a buy rating to a hold rating in a research report on Thursday, April 26th. Finally, JMP Securities increased their price target on shares of TRI Pointe Group from $20.00 to $21.00 and gave the company a market outperform rating in a report on Friday, April 27th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. TRI Pointe Group presently has a consensus rating of Hold and an average target price of $19.00.
Shares of TRI Pointe Group stock opened at $16.36 on Wednesday. The firm has a market cap of $2.46 billion, a price-to-earnings ratio of 11.52, a PEG ratio of 0.75 and a beta of 1.47. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.75. TRI Pointe Group has a one year low of $12.28 and a one year high of $19.55.
TRI Pointe Group (NYSE:TPH) last announced its quarterly earnings data on Wednesday, April 25th. The construction company reported $0.28 EPS for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.04. The company had revenue of $586.20 million during the quarter, compared to the consensus estimate of $552.11 million. TRI Pointe Group had a net margin of 7.40% and a return on equity of 13.55%. TRI Pointe Group’s quarterly revenue was up 49.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.05 EPS. equities research analysts forecast that TRI Pointe Group will post 1.86 earnings per share for the current year.
In related news, CEO Douglas F. Bauer sold 28,828 shares of the stock in a transaction dated Friday, April 27th. The shares were sold at an average price of $17.76, for a total value of $511,985.28. Following the sale, the chief executive officer now directly owns 168,479 shares of the company’s stock, valued at approximately $2,992,187.04. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Michael D. Grubbs sold 100,000 shares of the stock in a transaction dated Friday, May 25th. The shares were sold at an average price of $17.62, for a total transaction of $1,762,000.00. Following the completion of the sale, the chief financial officer now directly owns 68,764 shares in the company, valued at $1,211,621.68. The disclosure for this sale can be found here. Insiders sold a total of 249,868 shares of company stock valued at $4,410,665 in the last quarter. Insiders own 1.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Dynamic Technology Lab Private Ltd grew its stake in TRI Pointe Group by 73.2% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 56,287 shares of the construction company’s stock valued at $925,000 after acquiring an additional 23,780 shares during the last quarter. Worth Venture Partners LLC acquired a new stake in TRI Pointe Group in the 1st quarter valued at about $272,000. Principal Financial Group Inc. grew its stake in TRI Pointe Group by 2.6% in the 1st quarter. Principal Financial Group Inc. now owns 662,403 shares of the construction company’s stock valued at $10,883,000 after acquiring an additional 17,023 shares during the last quarter. Xact Kapitalforvaltning AB grew its stake in TRI Pointe Group by 64.5% in the 1st quarter. Xact Kapitalforvaltning AB now owns 22,955 shares of the construction company’s stock valued at $377,000 after acquiring an additional 9,000 shares during the last quarter. Finally, Legal & General Group Plc grew its stake in TRI Pointe Group by 11.6% in the 1st quarter. Legal & General Group Plc now owns 149,170 shares of the construction company’s stock valued at $2,451,000 after acquiring an additional 15,545 shares during the last quarter.
About TRI Pointe Group
TRI Pointe Group, Inc engages in the design, construction, and sale of single-family detached and attached homes in the United States. It operates a portfolio of six brands across eight states, including 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.
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