Seaport Global Securities Starts TRI Pointe Homes (TPH) at Neutral

Seaport Global Securities analyst Kenneth Zener initiates coverage on TRI Pointe Homes (NYSE: TPH) with a Neutral rating.

The analyst comments "We initiate on Tri Pointe Group with a Neutral rating, though we consider its rising exposure outside of California (to 70% prospectively vs ~50% before) with a structural gross margin lift from interest amortization (~110bp in time vs 3.4% now, above peers ~1.0%), tied to lower debt. While risks to new markets remain, both macro and from execution, we think these catalysts are positive vs peers, amid rising asset turns and perhaps margins, though we remain on the sidelines for now."

For an analyst ratings summary and ratings history on TRI Pointe Homes click here. For more ratings news on TRI Pointe Homes click here.

Shares of TRI Pointe Homes closed at $45.02 yesterday.

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