TRI Pointe Group (TPH) Raised 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 report released on Saturday. The brokerage currently has $21.00 price target 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. “

Several other brokerages have also recently commented on TPH. Barclays set a $17.00 target price on shares of TRI Pointe Group and gave the stock a hold rating in a report on Thursday, October 26th. ValuEngine upgraded shares of TRI Pointe Group from a hold rating to a buy rating in a report on Monday, October 2nd. JMP Securities increased their target price on shares of TRI Pointe Group from $16.00 to $18.00 and gave the stock a market outperform rating in a report on Thursday, October 26th. B. Riley restated a buy rating on shares of TRI Pointe Group in a report on Wednesday, November 1st. Finally, Wedbush increased their target price on shares of TRI Pointe Group from $19.00 to $21.00 and gave the stock an outperform rating in a report on Friday, December 29th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $18.22.

Shares of TRI Pointe Group (NYSE:TPH) traded up $0.39 during mid-day trading on Friday, hitting $19.42. 2,090,000 shares of the stock traded hands, compared to its average volume of 1,473,164. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.43 and a quick ratio of 0.43. TRI Pointe Group has a 52 week low of $11.31 and a 52 week high of $19.55. The company has a market capitalization of $2,921.39, a P/E ratio of 17.65, a price-to-earnings-growth ratio of 1.06 and a beta of 1.74.

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

In other TRI Pointe Group news, VP Bradley William Blank sold 14,725 shares of the stock in a transaction on Monday, November 6th. The shares were sold at an average price of $17.54, for a total value of $258,276.50. Following the completion of the sale, the vice president now owns 49,070 shares in the company, valued at $860,687.80. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Thomas J. Mitchell sold 150,822 shares of the stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $18.83, for a total transaction of $2,839,978.26. Following the completion of the sale, the insider now owns 274,312 shares of the company’s stock, valued at approximately $5,165,294.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,139,281 shares of company stock valued at $19,304,905. Corporate insiders own 2.20% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. UBS Asset Management Americas Inc. lifted its stake in TRI Pointe Group by 0.8% in the second quarter. UBS Asset Management Americas Inc. now owns 86,501 shares of the construction company’s stock valued at $1,141,000 after acquiring an additional 704 shares during the last quarter. Alliancebernstein L.P. lifted its stake in shares of TRI Pointe Group by 0.4% during the 2nd quarter. Alliancebernstein L.P. now owns 216,508 shares of the construction company’s stock worth $2,856,000 after buying an additional 788 shares during the last quarter. Thrivent Financial For Lutherans lifted its stake in shares of TRI Pointe Group by 3.9% during the 2nd quarter. Thrivent Financial For Lutherans now owns 32,050 shares of the construction company’s stock worth $423,000 after buying an additional 1,190 shares during the last quarter. Amalgamated Bank lifted its stake in shares of TRI Pointe Group by 7.0% during the 2nd quarter. Amalgamated Bank now owns 22,394 shares of the construction company’s stock worth $295,000 after buying an additional 1,468 shares during the last quarter. Finally, Federated Investors Inc. PA lifted its stake in shares of TRI Pointe Group by 5.5% during the 2nd quarter. Federated Investors Inc. PA now owns 45,108 shares of the construction company’s stock worth $595,000 after buying an additional 2,349 shares during the last quarter.

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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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