TRI Pointe Group (TPH) Downgraded to “Buy” at ValuEngine

TRI Pointe Group (NYSE:TPH) was downgraded by equities researchers at ValuEngine from a “strong-buy” rating to a “buy” rating in a report released on Wednesday, May 9th.

Other equities analysts also recently issued research reports about the stock. Zacks Investment Research upgraded shares of TRI Pointe Group from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a report on Saturday, April 28th. Gabelli downgraded shares of TRI Pointe Group from a “buy” rating to a “hold” rating in a report on Thursday, April 26th. JMP Securities increased their price target on shares of TRI Pointe Group from $20.00 to $21.00 and gave the stock a “market outperform” rating in a report on Friday, April 27th. Finally, Wedbush reaffirmed an “outperform” rating and set a $21.00 price objective on shares of TRI Pointe Group in a research note on Wednesday, April 25th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $19.00.

NYSE:TPH opened at $16.85 on Wednesday. TRI Pointe Group has a 1-year low of $15.84 and a 1-year high of $16.20. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $2.48 billion, a P/E ratio of 9.79, a price-to-earnings-growth ratio of 0.76 and a beta of 1.44.

TRI Pointe Group (NYSE:TPH) last issued its quarterly earnings results on Wednesday, April 25th. The construction company reported $0.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.04. TRI Pointe Group had a net margin of 7.40% and a return on equity of 13.55%. The company had revenue of $586.20 million for the quarter, compared to the consensus estimate of $552.11 million. During the same quarter in the prior year, the company earned $0.05 EPS. TRI Pointe Group’s quarterly revenue was up 49.5% on a year-over-year basis. analysts predict that TRI Pointe Group will post 1.85 earnings per share for the current fiscal year.

TRI Pointe Group announced that its Board of Directors has approved a share repurchase program on Tuesday, February 20th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the construction company to reacquire shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

In other news, CEO Douglas F. Bauer sold 28,828 shares of the stock in a transaction that occurred on Friday, April 27th. The stock was sold at an average price of $17.76, for a total transaction of $511,985.28. Following the transaction, the chief executive officer now owns 168,479 shares in the company, valued at approximately $2,992,187.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Douglas F. Bauer sold 5,600 shares of the stock in a transaction that occurred on Tuesday, May 8th. The shares were sold at an average price of $17.75, for a total value of $99,400.00. Following the transaction, the chief executive officer now owns 168,479 shares in the company, valued at approximately $2,990,502.25. The disclosure for this sale can be found here. Insiders have sold a total of 74,386 shares of company stock worth $1,313,870 in the last ninety days. Corporate insiders own 1.70% of the company’s stock.

Several large investors have recently made changes to their positions in TPH. Renaissance Technologies LLC purchased a new position in shares of TRI Pointe Group during the 4th quarter valued at approximately $36,591,000. Deutsche Bank AG lifted its position in shares of TRI Pointe Group by 374.4% during the 4th quarter. Deutsche Bank AG now owns 2,004,693 shares of the construction company’s stock valued at $35,922,000 after buying an additional 1,582,141 shares in the last quarter. Point72 Asset Management L.P. lifted its position in shares of TRI Pointe Group by 788.8% during the 1st quarter. Point72 Asset Management L.P. now owns 688,750 shares of the construction company’s stock valued at $11,316,000 after buying an additional 788,750 shares in the last quarter. BlackRock Inc. lifted its position in shares of TRI Pointe Group by 4.0% during the 4th quarter. BlackRock Inc. now owns 19,037,872 shares of the construction company’s stock valued at $341,159,000 after buying an additional 729,721 shares in the last quarter. Finally, Guggenheim Capital LLC lifted its position in shares of TRI Pointe Group by 293.6% during the 4th quarter. Guggenheim Capital LLC now owns 718,277 shares of the construction company’s stock valued at $12,873,000 after buying an additional 535,784 shares in the last quarter.

TRI Pointe Group Company Profile

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 six brands across eight states, including 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for TRI Pointe Group (NYSE:TPH)

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