Tri Pointe Homes Inc. (NYSE:TPH – Get Free Report) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $46.99 and last traded at $46.9850, with a volume of 517803 shares changing hands. The stock had previously closed at $46.95.
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on TPH shares. Royal Bank Of Canada lifted their target price on shares of Tri Pointe Homes from $31.00 to $47.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 17th. Oppenheimer downgraded shares of Tri Pointe Homes from an “outperform” rating to a “market perform” rating in a report on Friday, February 13th. Finally, Weiss Ratings lowered shares of Tri Pointe Homes from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $42.50.
Read Our Latest Report on Tri Pointe Homes
Tri Pointe Homes Stock Performance
Tri Pointe Homes (NYSE:TPH – Get Free Report) last announced its earnings results on Wednesday, April 29th. The construction company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.22). Tri Pointe Homes had a return on equity of 6.24% and a net margin of 5.77%.The company had revenue of $507.90 million for the quarter, compared to analysts’ expectations of $495.67 million. During the same period last year, the business earned $0.70 EPS. The company’s quarterly revenue was down 29.7% compared to the same quarter last year. As a group, research analysts anticipate that Tri Pointe Homes Inc. will post 2.64 earnings per share for the current year.
Insider Buying and Selling at Tri Pointe Homes
In related news, Director Steven J. Gilbert sold 50,000 shares of the stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $46.33, for a total transaction of $2,316,500.00. Following the completion of the transaction, the director owned 30,330 shares of the company’s stock, valued at approximately $1,405,188.90. This trade represents a 62.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 3.20% of the company’s stock.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in the company. Summit Securities Group LLC purchased a new position in shares of Tri Pointe Homes during the fourth quarter worth $27,000. Fulcrum Asset Management LLP acquired a new stake in shares of Tri Pointe Homes in the third quarter valued at $44,000. Farther Finance Advisors LLC raised its holdings in shares of Tri Pointe Homes by 306.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,383 shares of the construction company’s stock valued at $47,000 after buying an additional 1,043 shares during the period. Rockefeller Capital Management L.P. lifted its stake in Tri Pointe Homes by 29.4% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,615 shares of the construction company’s stock worth $51,000 after acquiring an additional 367 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its stake in Tri Pointe Homes by 33.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,601 shares of the construction company’s stock worth $54,000 after acquiring an additional 401 shares in the last quarter. 97.01% of the stock is currently owned by institutional investors and hedge funds.
About Tri Pointe Homes
Tri Pointe Homes, Inc (NYSE: TPH) is a national homebuilder engaged in the acquisition, development, construction, marketing and sale of single-family detached homes and attached products. The company’s operations span a range of new residential communities, offering customizable floor plans in both tract and luxury segments. Its integrated business model encompasses land sourcing, entitlement, design, construction oversight and in-house customer care and warranty service.
Founded in 2009 through the combination of three regional builders, Tri Pointe Homes has grown into a prominent player across key western U.S.
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