Tri Pointe Homes (NYSE:TPH) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Tri Pointe Homes (NYSE:TPH) from a buy rating to a hold rating in a research report sent to investors on Thursday, Zacks.com reports.

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 equities analysts have also recently weighed in on TPH. Wolfe Research assumed coverage on Tri Pointe Homes in a research note on Tuesday, March 16th. They set a peer perform rating on the stock. B. Riley raised their price objective on Tri Pointe Homes from $27.00 to $31.00 and gave the company a buy rating in a research note on Friday, April 23rd. Finally, Wells Fargo & Company assumed coverage on Tri Pointe Homes in a research note on Wednesday, April 21st. They set an equal weight rating and a $23.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $24.83.

Shares of TPH opened at $21.26 on Thursday. Tri Pointe Homes has a 12-month low of $12.83 and a 12-month high of $26.35. The stock has a fifty day moving average price of $23.29. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.60. The company has a market cap of $2.52 billion, a PE ratio of 8.34 and a beta of 1.50.

Tri Pointe Homes (NYSE:TPH) last issued its earnings results on Thursday, April 22nd. The construction company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.12. Tri Pointe Homes had a return on equity of 15.07% and a net margin of 9.51%. The company had revenue of $716.70 million for the quarter, compared to analysts’ expectations of $736.24 million. During the same period last year, the business earned $0.24 EPS. Tri Pointe Homes’s quarterly revenue was up 20.5% compared to the same quarter last year. Analysts anticipate that Tri Pointe Homes will post 3.14 earnings per share for the current fiscal year.

Institutional investors have recently made changes to their positions in the company. Ameritas Investment Company LLC purchased a new stake in shares of Tri Pointe Homes during the 1st quarter valued at $28,000. Captrust Financial Advisors increased its position in shares of Tri Pointe Homes by 413.4% during the 1st quarter. Captrust Financial Advisors now owns 1,910 shares of the construction company’s stock valued at $39,000 after purchasing an additional 1,538 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of Tri Pointe Homes during the 1st quarter valued at $59,000. The PNC Financial Services Group Inc. increased its position in shares of Tri Pointe Homes by 56.8% during the 1st quarter. The PNC Financial Services Group Inc. now owns 4,025 shares of the construction company’s stock valued at $82,000 after purchasing an additional 1,458 shares during the last quarter. Finally, Lazard Asset Management LLC increased its position in shares of Tri Pointe Homes by 24.4% during the 4th quarter. Lazard Asset Management LLC now owns 4,084 shares of the construction company’s stock valued at $70,000 after purchasing an additional 801 shares during the last quarter. 99.26% of the stock is owned by hedge funds and other institutional investors.

Tri Pointe Homes Company Profile

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 brands, including 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, Virginia, and the District of Columbia.

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