Wedbush Maintains Neutral Rating for Tri Pointe Homes: Here's What You Need To Know

Wedbush has decided to maintain its Neutral rating of Tri Pointe Homes TPH and raise its price target from $32.00 to $35.00.

Shares of Tri Pointe Homes are trading up 3.71% over the last 24 hours, at $36.07 per share.

A move to $35.00 would account for a 2.97% decline from the current share price.

About Tri Pointe Homes

Tri Pointe Homes Inc is an American construction company that focuses on residential construction. The company designs and builds single-family homes and condominiums through its portfolio of six regional housing brands. Its largest regional brands include Maracay Homes, which operates in Arizona, and TRI Pointe and Pardee Homes, which operate in California, Nevada, and Colorado. From a geographic perspective, California is TRI Pointe's largest source of revenue, followed by Arizona and Nevada. The company also operates in Texas, Oregon, and Virginia. TRI Pointe completes approximately 4,000 homes annually with an average selling price around $500,000. TRI Pointe also is involved in the sale and development of land.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.