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

TRI Pointe Group, Inc. (NYSE:TPH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday, July 19th. The firm presently has a $15.00 target price on the construction company’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 9.49% from the company’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 analysts have also weighed in on the company. ValuEngine lowered TRI Pointe Group from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Barclays PLC lowered TRI Pointe Group from an “overweight” rating to an “equal weight” rating and set a $14.00 target price for the company. in a research note on Tuesday, July 11th. BidaskClub upgraded TRI Pointe Group from a “hold” rating to a “buy” rating in a research note on Saturday, July 1st. Wedbush restated an “outperform” rating and issued a $16.00 target price on shares of TRI Pointe Group in a research note on Sunday, April 2nd. Finally, TheStreet upgraded TRI Pointe Group from a “c” rating to a “b-” rating in a research note on Monday, July 10th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. TRI Pointe Group has a consensus rating of “Hold” and an average price target of $14.13.

TRI Pointe Group (TPH) traded down 0.44% during trading on Wednesday, hitting $13.70. 870,581 shares of the stock traded hands. The company has a 50-day moving average price of $13.55 and a 200 day moving average price of $12.71. The stock has a market cap of $2.07 billion, a PE ratio of 16.27 and a beta of 1.66. TRI Pointe Group has a one year low of $10.35 and a one year high of $14.21.

TRI Pointe Group (NYSE:TPH) last issued its quarterly earnings data on Wednesday, July 26th. The construction company reported $0.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.01. TRI Pointe Group had a return on equity of 7.32% and a net margin of 5.77%. The company had revenue of $568.80 million during the quarter, compared to analysts’ expectations of $563.72 million. During the same period last year, the business earned $0.46 earnings per share. The business’s revenue was up 2.1% on a year-over-year basis. Analysts expect that TRI Pointe Group will post $1.35 earnings per share for the current year.

TRI Pointe Group announced that its Board of Directors has approved a share buyback program on Wednesday, July 26th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the construction company to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Hedge funds have recently made changes to their positions in the company. New York State Teachers Retirement System raised its stake in shares of TRI Pointe Group by 0.3% in the fourth quarter. New York State Teachers Retirement System now owns 70,800 shares of the construction company’s stock worth $813,000 after buying an additional 200 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in shares of TRI Pointe Group by 10.1% in the fourth quarter. Thrivent Financial for Lutherans now owns 25,130 shares of the construction company’s stock worth $288,000 after buying an additional 2,300 shares during the last quarter. Norges Bank purchased a new stake in shares of TRI Pointe Group during the fourth quarter worth approximately $3,253,000. Lincoln Capital Corp purchased a new stake in shares of TRI Pointe Group during the fourth quarter worth approximately $2,077,000. Finally, Highbridge Capital Management LLC raised its stake in shares of TRI Pointe Group by 172.7% in the fourth quarter. Highbridge Capital Management LLC now owns 54,163 shares of the construction company’s stock worth $622,000 after buying an additional 34,299 shares during the last quarter. Hedge funds and other institutional investors own 98.68% of the company’s stock.

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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