TRI Pointe Group (TPH) Rating Increased to Buy at Zacks Investment Research

TRI Pointe Group (NYSE:TPH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Saturday. The firm currently has a $21.00 price objective on the construction company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 8.14% 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. “

A number of other brokerages also recently issued reports on TPH. Barclays raised TRI Pointe Group from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $17.00 to $21.00 in a research note on Friday. Wedbush raised their target price on TRI Pointe Group from $19.00 to $21.00 and gave the stock an “outperform” rating in a research note on Friday, December 29th. ValuEngine raised TRI Pointe Group from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. B. Riley reaffirmed a “buy” rating on shares of TRI Pointe Group in a research note on Wednesday, November 1st. Finally, FBR & Co reaffirmed a “buy” rating and issued a $20.00 target price on shares of TRI Pointe Group in a research note on Thursday, October 26th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. TRI Pointe Group has an average rating of “Buy” and a consensus price target of $18.22.

Shares of TRI Pointe Group (TPH) traded up $0.39 on Friday, hitting $19.42. The company’s stock had a trading volume of 2,088,500 shares, compared to its average volume of 2,418,050. TRI Pointe Group has a twelve month low of $11.31 and a twelve month high of $19.55. The firm has a market cap of $2,920.00, a P/E ratio of 17.65, a PEG ratio of 1.06 and a beta of 1.74. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.80.

TRI Pointe Group (NYSE:TPH) last issued its earnings results on Wednesday, October 25th. The construction company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.03. TRI Pointe Group had a return on equity of 9.32% and a net margin of 6.97%. The business had revenue of $717.40 million during the quarter, compared to the consensus estimate of $706.65 million. During the same period last year, the company earned $0.22 EPS. The company’s revenue for the quarter was up 24.0% on a year-over-year basis. equities analysts expect that TRI Pointe Group will post 1.37 EPS for the current year.

In related news, VP Bradley William Blank sold 14,725 shares of the firm’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $17.54, for a total transaction of $258,276.50. Following the completion of the sale, the vice president now directly owns 49,070 shares of the company’s stock, valued at approximately $860,687.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Thomas J. Mitchell sold 291,039 shares of the firm’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $17.04, for a total value of $4,959,304.56. Following the sale, the insider now directly owns 274,312 shares of the company’s stock, valued at $4,674,276.48. The disclosure for this sale can be found here. Insiders have sold a total of 1,139,281 shares of company stock valued at $19,304,905 over the last three months. Corporate insiders own 2.20% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Shelton Capital Management acquired a new position in TRI Pointe Group in the 2nd quarter valued at about $146,000. Riverhead Capital Management LLC grew its position in TRI Pointe Group by 89.9% in the 2nd quarter. Riverhead Capital Management LLC now owns 12,720 shares of the construction company’s stock valued at $168,000 after acquiring an additional 6,020 shares in the last quarter. Virtu Financial LLC acquired a new position in TRI Pointe Group in the 3rd quarter valued at about $197,000. Quantitative Systematic Strategies LLC acquired a new position in TRI Pointe Group in the 3rd quarter valued at about $202,000. Finally, Marshall Wace North America L.P. acquired a new position in TRI Pointe Group in the 2nd quarter valued at about $232,000.

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About TRI Pointe Group

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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