Zacks Investment Research Upgrades TRI Pointe Group, Inc. (TPH) to “Buy”

TRI Pointe Group, Inc. (NYSE:TPH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday, July 19th. The firm currently has a $15.00 target price on the construction company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 8.85% 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. “

Other equities research analysts also recently issued research reports about the company. TheStreet raised TRI Pointe Group from a “c” rating to a “b-” rating in a report on Monday, July 10th. BidaskClub raised TRI Pointe Group from a “sell” rating to a “hold” rating in a report on Wednesday, June 21st. Barclays PLC downgraded TRI Pointe Group from an “overweight” rating to an “equal weight” rating and set a $14.00 price target for the company. in a report on Tuesday, July 11th. ValuEngine downgraded TRI Pointe Group from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Wedbush reaffirmed an “outperform” rating and set a $16.00 target price on shares of TRI Pointe Group in a report on Sunday, April 2nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $14.13.

TRI Pointe Group (NYSE TPH) traded up 0.51% during trading on Wednesday, reaching $13.78. 1,565,871 shares of the company were exchanged. TRI Pointe Group has a one year low of $10.35 and a one year high of $14.21. The company has a market capitalization of $2.09 billion, a P/E ratio of 16.37 and a beta of 1.66. The firm’s 50-day moving average is $13.49 and its 200 day moving average is $12.69.

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

TRI Pointe Group declared that its board has authorized a share buyback program on Wednesday, July 26th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the construction company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

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A number of institutional investors have recently added to or reduced their stakes in the company. Meadow Creek Investment Management LLC raised its position in shares of TRI Pointe Group by 26.8% in the first quarter. Meadow Creek Investment Management LLC now owns 9,180 shares of the construction company’s stock valued at $115,000 after buying an additional 1,938 shares during the period. World Asset Management Inc purchased a new stake in TRI Pointe Group during the second quarter valued at about $132,000. 1st Global Advisors Inc. increased its stake in TRI Pointe Group by 9.8% in the first quarter. 1st Global Advisors Inc. now owns 11,008 shares of the construction company’s stock valued at $138,000 after buying an additional 984 shares in the last quarter. Cornerstone Financial Partners LLC purchased a new stake in TRI Pointe Group during the second quarter valued at about $148,000. Finally, Teacher Retirement System of Texas increased its stake in TRI Pointe Group by 6.0% in the second quarter. Teacher Retirement System of Texas now owns 12,729 shares of the construction company’s stock valued at $168,000 after buying an additional 725 shares in the last quarter. 98.68% of the stock is currently owned by institutional investors.

TRI Pointe Group Company Profile

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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Analyst Recommendations for TRI Pointe Group (NYSE:TPH)

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