TRI Pointe Group (NYSE:TPH) Upgraded to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of TRI Pointe Group (NYSE:TPH) from a hold rating to a buy rating in a research note released on Friday morning, Zacks.com reports. Zacks Investment Research currently has $17.00 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. “

Other analysts also recently issued research reports about the company. Royal Bank of Canada raised TRI Pointe Group from a sector perform rating to an outperform rating and raised their price target for the stock from $15.00 to $17.00 in a report on Tuesday. ValuEngine downgraded TRI Pointe Group from a hold rating to a sell rating in a report on Wednesday, October 2nd. TheStreet raised TRI Pointe Group from a c+ rating to a b rating in a report on Wednesday, September 18th. Finally, B. Riley set a $18.00 price target on TRI Pointe Group and gave the stock a buy rating in a report on Tuesday. Two analysts have rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. TRI Pointe Group presently has an average rating of Hold and a consensus target price of $15.33.

Shares of NYSE TPH traded up $0.22 during mid-day trading on Friday, hitting $16.05. The company had a trading volume of 1,835,855 shares, compared to its average volume of 1,796,236. The stock has a market cap of $2.25 billion, a price-to-earnings ratio of 8.45, a PEG ratio of 1.15 and a beta of 1.14. TRI Pointe Group has a 12 month low of $10.37 and a 12 month high of $16.09. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.64 and a quick ratio of 0.64. The firm’s 50 day simple moving average is $14.60 and its two-hundred day simple moving average is $13.47.

TRI Pointe Group (NYSE:TPH) last announced its quarterly earnings results on Thursday, July 25th. The construction company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.04. The business had revenue of $692.10 million for the quarter, compared to the consensus estimate of $635.33 million. TRI Pointe Group had a return on equity of 9.96% and a net margin of 6.12%. The business’s revenue was down 10.0% on a year-over-year basis. During the same quarter last year, the business posted $0.42 EPS. Equities analysts forecast that TRI Pointe Group will post 1.25 earnings per share for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of TPH. Tower Research Capital LLC TRC acquired a new stake in TRI Pointe Group in the 2nd quarter valued at approximately $31,000. NumerixS Investment Technologies Inc increased its position in TRI Pointe Group by 53.8% in the 2nd quarter. NumerixS Investment Technologies Inc now owns 4,000 shares of the construction company’s stock valued at $48,000 after acquiring an additional 1,400 shares during the period. Signaturefd LLC increased its position in TRI Pointe Group by 16.9% in the 3rd quarter. Signaturefd LLC now owns 4,617 shares of the construction company’s stock valued at $69,000 after acquiring an additional 667 shares during the period. Dupont Capital Management Corp increased its position in TRI Pointe Group by 107.1% in the 2nd quarter. Dupont Capital Management Corp now owns 8,700 shares of the construction company’s stock valued at $104,000 after acquiring an additional 4,500 shares during the period. Finally, Public Employees Retirement System of Ohio increased its position in TRI Pointe Group by 12.0% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 9,581 shares of the construction company’s stock valued at $115,000 after acquiring an additional 1,023 shares during the period.

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 6 brands across 10 states, 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 Colorado; and Winchester Homes in Maryland and Virginia.

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