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Tri Pointe Homes (NYSE:TPH) Downgraded by TheStreet to C+

kopsource ·  Sep 30, 2022 02:21

TheStreet cut shares of Tri Pointe Homes (NYSE:TPH – Get Rating) from a b- rating to a c+ rating in a report published on Monday, TheStreetRatingsTable reports.

Several other research firms have also commented on TPH. Wells Fargo & Company lowered their price objective on Tri Pointe Homes from $22.00 to $19.00 and set an equal weight rating on the stock in a research report on Friday, June 17th. StockNews.com lowered Tri Pointe Homes from a buy rating to a hold rating in a research report on Saturday, June 18th. Finally, B. Riley lowered Tri Pointe Homes from a buy rating to a neutral rating and lowered their price objective for the stock from $26.00 to $20.00 in a research report on Thursday, June 16th. Four analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company presently has an average rating of Hold and an average target price of $21.33.

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Tri Pointe Homes Price Performance

Shares of NYSE:TPH opened at $15.35 on Monday. Tri Pointe Homes has a twelve month low of $14.87 and a twelve month high of $28.28. The company's 50 day moving average is $17.41 and its 200 day moving average is $18.94. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.54. The company has a market cap of $1.56 billion, a PE ratio of 3.31 and a beta of 1.43.

Tri Pointe Homes (NYSE:TPH – Get Rating) last issued its quarterly earnings results on Thursday, July 21st. The construction company reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.21. Tri Pointe Homes had a net margin of 12.70% and a return on equity of 20.80%. The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $998.10 million. During the same quarter in the prior year, the company earned $1.00 EPS. Tri Pointe Homes's quarterly revenue was down .5% on a year-over-year basis. On average, sell-side analysts forecast that Tri Pointe Homes will post 4.65 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Hussman Strategic Advisors Inc. purchased a new position in shares of Tri Pointe Homes during the 2nd quarter valued at approximately $523,000. Verition Fund Management LLC purchased a new position in shares of Tri Pointe Homes during the 2nd quarter valued at approximately $476,000. Captrust Financial Advisors lifted its position in shares of Tri Pointe Homes by 68.5% during the 2nd quarter. Captrust Financial Advisors now owns 3,833 shares of the construction company's stock valued at $65,000 after buying an additional 1,558 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Tri Pointe Homes by 75.7% during the 2nd quarter. Legal & General Group Plc now owns 314,843 shares of the construction company's stock valued at $5,312,000 after buying an additional 135,681 shares in the last quarter. Finally, ExodusPoint Capital Management LP lifted its position in shares of Tri Pointe Homes by 506.2% during the 2nd quarter. ExodusPoint Capital Management LP now owns 221,247 shares of the construction company's stock valued at $3,732,000 after buying an additional 184,747 shares in the last quarter. Hedge funds and other institutional investors own 99.96% of the company's stock.

About Tri Pointe Homes

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Tri Pointe Homes, Inc engages in the design, construction, and sale of single-family attached and detached homes in the United States. The company operates through a portfolio of six brands comprising Maracay in Arizona; Pardee Homes in California and Nevada; Quadrant Homes in Washington; Trendmaker Homes in Texas; TRI Pointe Homes in California, Colorado, and the Carolinas; and Winchester Homes in Maryland, Virginia, and the District of Columbia.

Further Reading

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