에 대한 최신 뉴스 Tri Pointe Homes (NYSE:TPH) 주식

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.

Tri Pointe Homes Inc

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Oppenheimer analyst Tyler Batory maintains Tri Pointe Homes (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TPH#NYSE">TPH</a>) with a Outperform and raises the price target from $54 to $56.

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Oppenheimer Maintains Outperform on Tri Pointe Homes, Raises Price Target to $56

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Shares of housing-related stocks are trading higher after the Fed policy decision to cut rates by 50 basis points, which could help curb housing unaffordability and increase demand.

Zelman &amp; Assoc upgrades Tri Pointe Homes (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TPH#NYSE">TPH</a>) from Underperform to Neutral and announces $43 price target.

Upgrades

Zelman & Assoc Upgrades Tri Pointe Homes to Neutral, Announces $43 Price Target

Seaport Global analyst Kenneth Zener initiates coverage on Tri Pointe Homes (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TPH#NYSE">TPH</a>) with a Neutral rating.

Initiation

Seaport Global Initiates Coverage On Tri Pointe Homes with Neutral Rating

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Shares of household durable companies are trading higher following strong New Home Sales economic data for July. Also, the sector may be moving in sympathy with the market after Fed Chair Powell offered an optimistic U.S. economic outlook and indicated future rate cuts.

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Shares of household durable companies are trading lower amid overall market weakness on US economic concerns.

Oppenheimer analyst Tyler Batory maintains Tri Pointe Homes (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TPH#NYSE">TPH</a>) with a Outperform and raises the price target from $46 to $54.

Oppenheimer Maintains Outperform on Tri Pointe Homes, Raises Price Target to $54

Wedbush analyst Jay McCanless reiterates Tri Pointe Homes (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TPH#NYSE">TPH</a>) with a Neutral and maintains $42 price target.

Reiteration

Wedbush Reiterates Neutral on Tri Pointe Homes, Maintains $42 Price Target

Homebuilder stocks surged to record highs on Friday, driven by a positive inflation report that cemented expectations for interest <a href="https://www.benzinga.com/topic/interest-rates">rate cuts in September.</a>
The Personal Consumption Expenditure (PCE) price index — commonly referred to as the Fed&#8217;s favorite inflation measure — fell from 2.6% year-on-year to 2.5% in <a href="https://www.benzinga.com/economics/macro-economic-events/24/07/39983210/feds-preferred-inflation-measure-shows-mixed-readings-personal-income-spending-fa">June 2024, matching expectations. </a>
The iShares U.S. Home Construction ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ITB#NYSE">ITB</a>), a key basket tracking U.S. homebuilder equity performances, jumped 3.8%, marking its third consecutive week of gains. 
Chart: U.S. Home Construction ETF Reaches Record Highs
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="441" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/26102927/image-50-1024x441.png" alt="" class="wp-image-459652" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/26102927/image-50-1024x441.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/26102927/image-50-300x129.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/26102927/image-50-768x330.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/26102927/image-50-1536x661.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/26102927/image-50.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Image:<a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent072624&amp;t=be2bearmibe3na1"> Benzinga Pro </a></figcaption></figure>
Over the past three weeks, U.S. homebuilder stocks have surged by more than 20%, spurred by the anticipation of lower interest rates benefiting rate-sensitive sectors like home construction.
Market participants are now fully pricing in a Federal Reserve rate cut in September, with expectations for at least one more reduction by December 2024. 
&#8220;Homebuilders are trading at the high-end of the&nbsp;historical&nbsp;valuation&nbsp;range, which we think is justified by higher return-on-equity (ROE). On average, we forecast 22% return-on-equity compared to the 2019 level of 20%,&#8221; Bank of America analyst Rafe Jadrosich wrote in a recent report. 
Historically, similar valuation levels in 2018 and 2021 led to sharp pullbacks as the Fed raised rates, Bank of America highlighted. However, the investment bank believes the scenario is different in the second half of 2024, with the Fed likely to begin cutting rates.
On Friday, Bank of America double-upgraded Mohawk Industries, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MHK#NYSE">MHK</a>) from Underperform to Buy and raised their price target from $120 to $177, following better-than-expected Q2 2024 earnings.
<h3 class="wp-block-heading">Top-Performing Homebuilder Stocks In July 2024</h3>
The top ten best-performing stocks in the U.S. Home Construction ETF this month are:
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Name</td>
<td>Price Chg. % (MTD)</td>
</tr>
<tr>
<td>Mohawk Industries, Inc.</td>
<td>37.16%</td>
</tr>
<tr>
<td>M/l Homes, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MHO#NYSE">MHO</a>)</td>
<td>35.92%</td>
</tr>
<tr>
<td>Green Brick Partners, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRBK#NYSE">GRBK</a>)</td>
<td>31.50%</td>
</tr>
<tr>
<td>American Woodmark Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMWD#NASDAQ">AMWD</a>)</td>
<td>28.44%</td>
</tr>
<tr>
<td>Dream Finders Homes, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DFH#NYSE">DFH</a>)</td>
<td>27.42%</td>
</tr>
<tr>
<td>JELD-WEN Holding, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JELD#NYSE">JELD</a>)</td>
<td>26.80%</td>
</tr>
<tr>
<td>Installed Building Products, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBP#NYSE">IBP</a>)</td>
<td>26.65%</td>
</tr>
<tr>
<td>D.R. Horton, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHI#NYSE">DHI</a>)</td>
<td>26.29%</td>
</tr>
<tr>
<td>Tri Pointe Homes, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TPH#NYSE">TPH</a>)</td>
<td>26.26%</td>
</tr>
<tr>
<td>Century Communities, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCS#NYSE">CCS</a>)</td>
<td>26.05%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">As of July 26, 2024</figcaption></figure>
<h3 class="wp-block-heading">Latest Mortgage Rates, Housing Market Data</h3>
The Mortgage Bankers Association recently reported that the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances of $766,550 or less dropped by 5 basis points to 6.62% for the week<a href="https://www.benzinga.com/news/large-cap/24/07/39931211/mortgage-rates-hit-lowest-point-since-february-as-investors-anticipate-fed-rate-cuts"> ending July 19, 2024.</a>
Despite the easing in borrowing costs, other housing market indicators remain bleak. 
Homebuilder confidence dipped to 42 in July, its lowest reading year-to-date, according to Bank of America.
 Jeffrey Roach, chief economist for LPL Financial, commented on the situation, stating, &#8220;The low supply of homes and high interest rates have depressed affordability to near-term lows.&#8221;
The National Association of Realtors reported a significant 5.4% decline in existing home sales for June, marking the worst monthly drop since 2022. 
Additionally, the U.S. Census Bureau revealed that new single-family home sales fell 0.6% month-over-month to a seasonally adjusted annual rate of 617,000 in June 2024, the lowest in seven months and below forecasts of 640,000, as high prices continued to affect affordability. 
The median sales price of existing homes rose 4.1% year-over-year, setting a new record high.
Now Read:
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<li><a href="https://www.benzinga.com/markets/equities/24/07/39970069/investors-go-all-in-on-small-caps-pour-over-6-billion-into-russell-2000-etf-this-month-they-will">Investors Go All In On Small Caps, Pour Over $6 Billion Into Russell 2000 ETF This Month: They &#8216;Will Return To Larger-Cap Alternatives,&#8217; Veteran Analyst Says</a></li>
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Homebuilder Stocks Rally To Record Highs On Rate-Cut Frenzy But Housing Sales Still Struggle

RBC Capital analyst Mike Dahl maintains Tri Pointe Homes (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TPH#NYSE">TPH</a>) with a Outperform and raises the price target from $42 to $48.

RBC Capital Maintains Outperform on Tri Pointe Homes, Raises Price Target to $48

Guidance

Tri Pointe Homes Anticipates Delivering 1,450 - 1,550 Homes In Q3, 6,300 - 6,500 Homes In FY24

Tri Pointe Homes (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TPH#NYSE">TPH</a>) reported quarterly earnings of $1.25 per share which beat the analyst consensus estimate of $1.09 by 14.68 percent. This is a 108.33 percent increase over earnings of $0.60 per share from the same period last year. The company reported quarterly sales of $1.137 billion which beat the analyst consensus estimate of $1.073 billion by 6.00 percent. This is a 37.49 percent increase over sales of $826.959 million the same period last year.

Earnings

Earnings Beats

Tri Pointe Homes Q2 2024 GAAP EPS $1.25 Beats $1.09 Estimate, Sales $1.137B Beat $1.073B Estimate

LEN/B

Shares of homebuilders are trading higher in sympathy with D.R. Horton, which reported better-than-expected Q3 financial results.

Shares of building companies and homebuilders are trading higher after store sales of building material and garden supplies rose 1.4% in June.

Shares of homebuilders, building companies and housing-related stocks are trading higher as Treasury yields drop following softer-than-expected June CPI figures.

In value stock analysis, most investors use the price-to-earnings (P/E) ratio to search for lucrative stocks. However, there are other ratios that an investor can consider like the price-to-sales ratio (P/S) and price-to-book (P/B) ratio. The P/S ratio is simply price divided by sales. One of the reasons the P/S ratio is a better choice is that it looks at sales rather than earnings. However, the P/B ratio, though used less often, is also an easy-to-use valuation tool for identifying low-priced stocks with great returns.
The P/B ratio is calculated as below:
P/B ratio = market capitalization/book value of equity
The P/B ratio helps to identify low-priced stocks with high growth prospects. Ford Motor Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/f#NYSE">F</a>), Paysafe Limited (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/psfe#NYSE">PSFE</a>), The ODP Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/odp#NASDAQ">ODP</a>), Tri Pointe Homes (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tph#NYSE">TPH</a>) and KB Home (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kbh#NYSE">KBH</a>) are some such stocks.
Now, let us understand the concept of book value.
<h3>What is Book Value?</h3>
There are several ways by which book value can be defined.&nbsp;Book value is the total value that would be left over, according to the company&#39;s balance sheet, if it goes bankrupt immediately. In other words, this is what shareholders would theoretically receive if a company liquidates all its assets after paying off all its liabilities.
It is calculated by subtracting total liabilities from the total assets of a company. In most cases, this equates to common stockholders&#39; equity on the balance sheet. However, depending on the company&#39;s balance sheet, intangible assets should also be subtracted from the total assets to determine book value.
<h3>Understanding P/B Ratio</h3>
By comparing the book value of equity to its market price, we get an idea of whether a company is under or overpriced. However, like P/E or P/S ratio, it is always better to compare P/B ratios within industries.
A P/B ratio of less than one means that the stock is trading at less than its book value or the stock is undervalued and, therefore, a good buy. Conversely, a stock with a ratio greater than one can be interpreted as being overvalued or relatively expensive.
For example, a stock with a P/B ratio of 2 means that we pay $2 for every $1 of book value. Thus, the higher the P/B, the more expensive the stock.
But there is a warning. A P/B ratio of less than one can also mean that the company is earning weak or even negative returns on its assets or that the assets are overstated, in which case the stock should be shunned because it may be destroying shareholder value. Conversely, the stock&#39;s price may be significantly high &mdash; thereby pushing the P/B ratio to more than one &mdash; in the likely case that it has become a takeover target, a good enough reason to own the stock.
Moreover, the P/B ratio is not without limitations. It is useful for businesses like finance, investments, insurance and banking or manufacturing companies with many liquid/tangible assets on the books. However, it can be misleading for firms with significant R&amp;D expenditure, high debt, service companies, or those with negative earnings.
In any case, the ratio is not particularly relevant as a standalone number. One should analyze other ratios like P/E, P/S and debt to equity before arriving at a reasonable investment decision.
<h3>Screening Parameters</h3>
Price to Book (common Equity) less than X-Industry Median: A lower P/B compared with the industry average implies that there is enough room for the stock to gain.
Price to Sales less than X-Industry Median: The P/S ratio determines how much the market values every dollar of the company&#39;s sales/revenues &mdash; a lower ratio than the industry makes the stock attractive.
Price to Earnings using F(1) estimate less than X-Industry Median: The P/E ratio (F1) values a company based on its current share price relative to its estimated earnings per share &mdash; a lower ratio than the industry is considered better.
PEG less than 1: PEG links the P/E ratio to the future growth rate of the company. The PEG ratio portrays a more complete picture than the P/E ratio. A value of less than 1 indicates that the stock is undervalued and investors need to pay less for a stock that has bright earnings growth prospects.
Current Price greater than or equal to $5: They must all be trading at a minimum of $5 or higher.
Average 20-Day Volume greater than or equal to 100,000: A substantial trading volume ensures that the stock is easily tradable.
Zacks Rank less than or equal to #2: Zacks Rank #1 (Strong Buy) or 2 (Buy) stocks are known to outperform irrespective of the market environment.
Value Score equal to A or B: Our research shows that stocks with a Value Score of A or B, when combined with a Zacks Rank #1 or 2, offer the best opportunities in the value investing space.
Here are five of the 13 stocks that qualified the screening:&nbsp;
Dearborn, MI-based Ford is one of the leading automakers in the world. It manufactures, markets and services cars, trucks, sport utility vehicles, electrified vehicles and Lincoln luxury vehicles.&nbsp;
Ford has a projected 3-5-year EPS growth rate of 7.67%. Ford currently has a Zacks Rank #1 and a Value Score of A.
Headquartered in Las Vegas, Paysafe Limited is a specialized payments platform. The company enables businesses and consumers to connect and transact seamlessly through payment processing solutions, digital wallets, including the Skrill and Neteller brands, and online cash solutions, including paysafecard and Paysafecash.
PSFE has a Zacks Rank #2 and a Value Score of A. Paysafe Limited has a projected 3&ndash;5-year EPS growth rate of 18.66%.
ODP provides business services, products and digital workplace technology solutions to small, medium and enterprise businesses. It is based in Florida.
ODP has a Zacks Rank #1 and a Value Score of A at present. ODP has a projected 3-5-year EPS growth rate of 14.0%.
Tri Pointe Homes, headquartered in Irvine, CA, is involved in the design, construction and sale of single-family homes.
Tri Pointe Homes has a Zacks Rank #1 and a Value Score of A at present. TPH has a projected 3-5-year EPS growth rate of 13.0%.
Based in Los Angeles, CA, KB Home is a well-known homebuilder in the United States and one of the largest in the state. The company&#39;s revenues are generated from Homebuilding (accounting for 99.5% of fiscal 2023 total revenues) and Financial Services (0.5%) operations.
KB Home has a projected 3-5-year EPS growth rate of 11.06%. KBH currently has a Zacks Rank #2 and a Value Score of A.&nbsp;
Disclosure: Officers, directors and/or employees of Zacks Investment Research may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material. An affiliated investment advisory firm may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material.
<a href="https://www.zacks.com/stock/news/2289594/pick-these-5-price-to-book-value-stocks-for-high-returns?cid=CS-BENZ-FT-analyst_blog|rw-2289594">To read this article on Zacks.com click here.</a>

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Pick These 5 Price-to-Book Value Stocks for High Returns

Shares of homebuilders are trading lower in sympathy with Lennar, which fell after reporting Q2 earnings and issuing guidance.

Shares of homebuilders, construction and household durables stocks are trading higher following a softer-than-expected May CPI Report. Also, the Fed left rates unchanged.

In a market dealing with external shocks, value investing is fast gaining popularity. The success of value investors like Warren Buffett underscores this. Buffett and his business partner, Charlie Munger, managed to register a 19.8% CAGR for Berkshire Hathaway from 1965 through 2023. This compares favorably with a 10.2% rise of the S&amp;P 500 Index during the same period.
Several other stocks, which have surged significantly in the recent past, have shown the overwhelming success of this pure-play investment strategy. Here, we discuss five such stocks &mdash; Aptiv plc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/aptv#NYSE">APTV</a>), B2Gold Corp. (AMEX:BTG), Sylvamo Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/slvm#NYSE">SLVM</a>), Tri Pointe Homes (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tph#NYSE">TPH</a>) and Brinker International (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/eat#NYSE">EAT</a>).
More on Value Investing
While searching for a suitable investment option, value investors with a varied risk appetite are unlikely to consider price/earnings to growth ratio among several other popular metrics like price/earnings (P/E), price/sales (P/S) or price/book value (P/B).
This is because they often find this ratio complicated, considering the limitations in calculating a stock&#39;s future earnings growth potential. Yardsticks, such as dividend yield, P/E or P/B, are commonly used to single out stocks trading at a discount.
However, while not taking into account the growth potential of a stock, these ratios might end up convincing us to invest in stocks that are at a discount just because of their poor show. This might often lead to &quot;value traps&quot; &mdash; a situation when these value picks start to underperform over the long run as temporary problems, which, once pulled down the share price, turn out to be persistent.
In such a case, even if you buy a stock at less than its fair value, you might still end up paying more. And here comes the importance of this not-so-popular but crucial value investing metric, the PEG ratio.
The PEG ratio is defined as (Price/ Earnings)/Earnings Growth Rate
A low PEG ratio is always better for value investors.
While P/E alone fails to identify a true value stock, PEG helps find the intrinsic value of a stock.
There are some drawbacks to using the PEG ratio. It doesn&#39;t consider the very common situation of changing growth rates, such as the forecast of the first three years at a very high growth rate, followed by a sustainable but lower growth rate over the long term.
Hence, PEG-based investing can turn out to be even more rewarding if some other relevant parameters are also taken into consideration.
Here are some of the screening criteria for a winning strategy:
PEG Ratio less than X Industry Median
P/E Ratio (using F1) less than X Industry Median (for more accurate valuation purpose)
Zacks Rank of 1 (Strong Buy) or 2 (Buy) (Whether good market conditions or bad, stocks with a Zacks Rank #1&nbsp;or 2 have a proven history of success.)
Market Capitalization greater than $1 Billion (This helps us to focus on companies that have strong liquidity.)
Average 20-Day Volume greater than 50,000 (A substantial trading volume ensures that the stock is easily tradable.)
Percentage Change F1 Earnings Estimate Revisions (4 Weeks) greater than 5% (Upward estimate revisions add to the optimism, suggesting further bullishness.)
Value Score of less than or equal to B: Our research shows that stocks with a Style Score of A or B when combined with a Zacks Rank #1, 2 or 3 (Hold) offer the best upside potential.&nbsp;
Here are five out of 17 stocks that qualified the screening:
Aptiv: This leading global technology and mobility company mainly serves the automotive sector. It is a designer and manufacturer of vehicle components as well as a provider of electrical, electronic and safety technology solutions to the global automotive market. The company is well-positioned to leverage growing electrification, connectivity and autonomy trends in the rapidly evolving automotive sector.
Aptiv has a long-term expected growth rate of 16.4%. Aptiv currently carries a Zacks Rank of 1 and has a Value Score of A.
B2Gold: Vancouver-based B2Gold is a gold producer with three operational mines (one each in Mali, Namibia, Philippines). So far in 2024, gold price has increased 11.3%, reaching an all-time high in March 2024. Currently, gold price is around $2,295 per ounce. This pickup in the price of gold is likely to improve B2Gold&#39;s results in the upcoming quarters.
B2Gold currently holds a Zacks Rank #1 and has a Value Score of A. B2Gold also has an impressive five-year historical growth rate of 18.9%.
Sylvamo: It produces and markets uncoated freesheet for cut size, offset paper and pulp. The company has mills in Europe, Latin America and North America. Of late, while uncoated freesheet conditions are getting better, the company is experiencing improved order books, resulting in less economic downtime.
Apart from a discounted PEG and P/E, Sylvamo currently has a Zacks Rank #1 and a Value Score of A. Sylvamo has a long-term expected growth rate of 29.9%.
Tri Pointe Homes: The company engages in the design, construction, and sale of single-family attached and detached homes in the United States. Tri Pointe Homes currently focuses on the strategic vision of building scale within existing markets while also driving organic growth where value-enhancing market opportunities exist.
Tri Pointe Homes has an impressive long-term historical growth rate of 16.5%. Tri Pointe Homes stock currently has a Value Score of B and a Zacks Rank of 1.
Brinker: It owns, operates, develops and franchises various restaurants under Chili&#39;s Grill &amp; Bar (Chili&#39;s) and Maggiano&#39;s Little Italy (Maggiano&#39;s) brands. Brinker remains steadfast in its goal to drive traffic and revenues through a range of sales-building initiatives such as streamlining of menu and its innovation, strengthening its value proposition, better food presentation, advertising campaigns, kitchen system optimization and introduction of better service platform.
Apart from a discounted PEG and P/E, Brinker currently has a Zacks Rank #1 and a Value Score of B. Brinker has a long-term expected growth rate of 18.9%.
Get the rest of the stocks on the list and start putting this and other ideas to the test. It can all be done with the Research Wizard stock picking and backtesting software.
The Research Wizard is a great place to begin. It&#39;s easy to use. Everything is in plain language. And it&#39;s very intuitive. Start your Research Wizard trial today. And the next time you read an economic report, open up the Research Wizard, plug your finds in, and see what gems come out.
Disclosure: Officers, directors and/or employees of Zacks Investment Research may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material. An affiliated investment advisory firm may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material. 
<a href="https://www.zacks.com/stock/news/2275868/5-best-peg-based-value-picks-to-add-to-your-portfolio-now?cid=CS-BENZ-FT-analyst_blog|rw-2275868">To read this article on Zacks.com click here.</a>

APTV

SLVM

5 Best PEG-Based Value Picks to Add to Your Portfolio Now

The residential construction market is experiencing substantial growth due to rising urbanization, favorable mortgage conditions, and supportive government measures. Could it be worth adding Meritage Homes to one's portfolio in this dynamic environment? Let's find out... As housing demand soars, the residential construction sector in the United States is poised for significant growth in the coming years. In this dynamic landscape, keeping an eye on Meritage Homes Corporation (<a href="https://stocknews.com/stock/MTH/">MTH</a>) could be a strategic move. To evaluate its potential, let's delve more closely into current industry trends and MTH's role.
The residential construction industry is expanding robustly, driven by several key factors. Increasing population levels, urbanization, and shifting demographics fueling heightened demand for new housing. Additionally, a growing desire for modern, energy-efficient homes is growing, further accelerating the sector's expansion.
Recent developments have further supported this growth. Mortgage rates <a href="https://www.forbes.com/advisor/mortgages/mortgage-rates/#:~:text=Mortgage%20rates%20took%20a%20tumble%20this%20summer%2C%20hitting,we%20move%20through%20the%20second%20half%20of%202024.">dropped to their lowest levels</a> in nearly 15 months this summer, benefiting prospective buyers. Although rates remain elevated, the Federal Reserve has signaled a potential cut in its key interest rate, which could lead to a further decline in mortgage rates in the latter half of 2024.
Moreover, the industry receives substantial backing from the government. The Department of Housing and Urban Development (HUD) launched the $100 million Pathways to Removing Obstacles to Housing (PRO Housing) program to address barriers to affordable housing production.
In June, Vice President Harris announced the first grants from this program, providing <a href="https://www.whitehouse.gov/briefing-room/statements-releases/2024/08/13/fact-sheet-biden-harris-administration-takes-new-actions-to-lower-housing-costs-by-cutting-red-tape-to-build-more-housing/">$85 million to over 20 cities and states</a> to overcome obstacles to building affordable housing.
In terms of industry performance, privately-owned housing completions in July reached a seasonally adjusted annual rate of 1,529,000, marking <a href="https://www.census.gov/construction/nrc/pdf/newresconst.pdf">a 13.8% increase</a> from July 2023. Single-family housing completions were at a rate of 1,054,000, up 0.5% from the revised June rate of 1,049,000.
Looking ahead, the residential real estate market in the United States is projected to reach a value of <a href="https://www.statista.com/outlook/fmo/real-estate/residential-real-estate/united-states">$106.70 trillion by 2024</a>. This projection reflects a steady annual growth rate of 3.6% from 2024 to 2029, with an anticipated market volume of $127.40 trillion by 2029.
Given these trends, MTH stands to benefit significantly. With a market capitalization of $6.53 billion, MTH is the fifth-largest homebuilder in the United States, specializing in designing and constructing single-family homes.
Its Homebuilding segment focuses on land acquisition, construction, marketing, and customer service, while the Financial Services segment offers essential services such as title, escrow, mortgage, and insurance.
MTH's shares have shown promising performance, increasing 19.5% over the past six months and 26.2% over the past year to close the last trading session at $179.76. Let's now explore the factors that might influence MTH's performance in the near term.
Recent Developments
On August 6, MTH entered into a multi-year exclusive<a href="https://www.prnewswire.com/news-releases/james-hardie-building-products-inc-announces-exclusive-product-deal-with-meritage-homes-302214820.html"> agreement with James Hardie Building Products Inc</a>., a subsidiary of James Hardie Industries plc (<a href="https://stocknews.com/stock/JHX/">JHX</a>), a North American leader in home-building products. The partnership builds on their existing relationship and expands their collaboration.
Under this agreement, Hardie&#xAE; siding and trim will be the standard for every new MTH home with hard siding across the United States through 2027. The standardization aims to enhance product consistency and quality in MTH's homes.
Moreover, the alliance is set to drive MTH's growth by reinforcing its commitment to premium materials. By standardizing Hardie&#xAE; products, MTH is poised to expand its market presence and solidify its reputation for high-quality home-building solutions.
Sound Historical Growth
Over the past five years, MTH's revenue has grown at a CAGR of 13.2%. Its operation income (EBIT) and total assets increased at CAGRs of 30.7% and 14.8%, respectively. In addition, the company's <a href="https://www.investopedia.com/terms/e/ebitda.asp">EBITDA</a> rose at a CAGR of 28.9%.
Moreover, during the same time frame, the company's net income and EPS grew at respective CAGRs of 32.4% and 34.3%.
Robust Financials
In the fiscal 2024 second quarter, which ended on June 30, MTH's homebuilding segment saw total closing revenue rise 8.1% year-over-year to $1.69 billion. Earnings before income taxes grew 24.1% to $297.36 million, and net earnings increased 23.9% to $231.56 million.
Earnings per common share also increased 25.7% year-over-year, reaching $6.31. Meanwhile, as of June 30, 2024, MTH's cash and cash equivalents totaled $992.92 million, up from $921.23 million on December 31, 2023.
Mixed Analyst Estimates
Analysts expect MTH's revenue for the fiscal third quarter (ending September 2024) to decrease 1.2% year-over-year to $1.59 billion. Similarly, its EPS for the same quarter is expected to decline 16.2% from the prior year's quarter to $5.01. Moreover, the company has surpassed the consensus revenue and EPS estimates in each of the trailing four quarters, which is impressive.
Looking forward, for the fiscal year ending December 2024, Street expects MTH's revenue and EPS to increase 3.3% and 5.6% from the previous year to $6.32 billion and $21.04, respectively.
Furthermore, the company's revenue and EPS for the next fiscal year ending in December 2025 are expected to grow 6.1% and 3.4% year-over-year to $6.70 billion and $21.76, respectively.
Mixed Profitability
MTH's trailing-12-month gross profit margin of 26.01% is 29.5% lower than the 36.89% industry average. Its trailing-12-month levered FCF margin of negative 4.06% unfavorably compares to the industry average of 5.58%.
However, the company's trailing-12-month EBITDA margin of 16.38% is 43% more than the industry average of 11.45%. Similarly, its trailing-12-month net income margin of 12.98% is 184.02% higher than the industry average of 4.57%.
Also, the stock's trailing-12-month ROCE, ROTC, and ROTA of 18.36%, 11.03%, and 12.11% are 59.6%, 80.6%, and 186.8% higher than the industry averages of 11.51%, 6.11%, and 4.22%, respectively.
Discounted Valuation 
In terms of forward non-GAAP P/E, MTH is trading at 8.54x, 44.7% lower than the industry average of 15.45x. The stock's forward EV/Sales multiple of 1.09 is 10% lower than the industry average of 1.22x. Likewise, its forward EV/EBITDA of 6.63x is 32.4% lower than the industry average of 9.81x.
Moreover, MTH's forward Price/Book of 1.27x is 48.8% lower than the 2.47x industry average. Meanwhile, its forward Price/Cash flow of 8.25x is 15% lower than the sector average of 9.70x.
POWR Ratings Reflect Uncertainty
MTH's mixed fundamentals are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has an overall rating of C, which translates to Neutral in our proprietary rating system. The POWR Ratings are calculated by taking into account 118 different factors, with each factor weighted to an optimal degree.
Our proprietary rating system also evaluates each stock based on eight distinct categories. MTH has achieved an A grade in Momentum, which is evident from its robust stock price performance. Currently, the stock is trading higher than its 50-day and 200-day moving averages, which stand at $175.90 and $164.52, respectively.
In addition, the stock has a C grade for Quality, which is justified by its mixed profitability metrics. The stock also has a C grade in Sentiment, consistent with its mixed analyst estimates. Within the B-rated <a href="https://stocknews.com/category/homebuilders/">Homebuilders</a> industry, MTH is ranked #14 out of 23 stocks.
Beyond what I have stated above, we have also given MTH grades for Growth, Value, and Stability. Get all MTH ratings <a href="https://stocknews.com/stock/MTH/">here</a>.
Bottom Line
The residential construction sector is on a robust growth trajectory, fueled by urbanization, favorable mortgage rates, and government incentives. MTH is strategically positioned to take advantage of this expansion, thanks to its valuable partnerships.
However, with MTH's profitability showing fluctuations and its 60-month beta at 1.80 indicating higher volatility, investors might consider waiting for a more optimal entry point before buying the stock.
How Does Meritage Homes Corporation (MTH) Stack Up Against Its Peers?
Given the current uncertainty around MTH's near-term prospects, its potential to outperform in the coming weeks and months may be less clear. However, there are other industry peers with much more impressive POWR Ratings.
So, consider these three A (Strong Buy) and B (Buy) rated stocks from the Homebuilders industry: NVR, Inc. (<a href="https://stocknews.com/stock/NVR/">NVR</a>), M/I Homes, Inc. (<a href="https://stocknews.com/stock/MHO/">MHO</a>), and Tri Pointe Homes, Inc. (<a href="https://stocknews.com/stock/TPH/">TPH</a>). To explore more A &amp; B-rated homebuilding stocks, click <a href="https://stocknews.com/category/homebuilders/">here</a>.
What To Do Next?
43 year investment veteran, Steve Reitmeister, has just released his 2024 market outlook along with trading plan and top 11 picks for the year ahead.
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MTH shares were unchanged in premarket trading Monday. Year-to-date, MTH has gained 4.14%, versus a 17.36% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Aanchal Sugandh</h2> <img src='https:/wp-content/uploads/2022/12/Aanchal-Sugandh_Headshot.jpg' style="float:left; padding:5px;width:125px;">Aanchal's passion for financial markets drives her work as an investment analyst and journalist. She earned her bachelor's degree in finance and is pursuing the CFA program.

She is proficient at assessing the long-term prospects of stocks with her fundamental analysis skills. Her goal is to help investors build portfolios with sustainable returns.<a href="https://stocknews.com/authors/?author=aanchal-sugandh">More...</a>The post <a href=https://stocknews.com/news/mth-nvr-mho-tph-jhx-should-you-buy-meritage-homes-as-housing-demand-soars/>Should You Buy Meritage Homes as Housing Demand Soars?</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

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The construction market is thriving, driven by its rising demand and shifting demographics. Thus, investors could consider buying leading construction stocks PulteGroup (PHM), NVR, Inc. (NVR), and Tri Pointe Homes (TPH) for solid gains. Keep on reading… With increasing population levels, urbanization, and shifting demographics boosting demand for new housing, the construction sector is expanding robustly. Additionally, a growing desire for modern, energy-efficient homes is growing, further accelerating the sector's expansion.
Therefore, with the industry's tailwinds, it could be wise to invest in fundamentally strong construction stocks like PulteGroup, Inc. (<a href="https://stocknews.com/stock/PHM/">PHM</a>), NVR, Inc. (<a href="https://stocknews.com/stock/NVR/">NVR</a>), and Tri Pointe Homes, Inc. (<a href="https://stocknews.com/stock/TPH/">TPH</a>) amid rising housing demand.
The construction sector is poised to benefit significantly from current market dynamics. With mortgage levels dropping to their <a href="https://www.forbes.com/advisor/mortgages/mortgage-rates/">lowest in nearly 15 months</a>, the demand for housing has been on the rise. Additionally, despite high interest rates, the Federal Reserve's interest rate cut last month will further boost the industry's growth prospects.
That said, privately-owned housing completions in July reached an annual rate of 1,529,000, marking <a href="https://www.census.gov/construction/nrc/pdf/newresconst.pdf">a 13.8% increase</a> from July 2023. Single-family housing completions were at a rate of 1,054,000, up 0.5% from the revised June rate of 1,049,000.
According to Statista, the residential real estate market in the United States is projected to reach a value of <a href="https://www.statista.com/outlook/fmo/real-estate/residential-real-estate/united-states">$106.70 trillion by 2024</a>. This projection shows a steady annual growth rate of 3.6% from 2024 to 2029, with an anticipated market volume of $127.40 trillion by 2029.
Considering all these factors, let us discuss the fundamentals of three <a href="https://stocknews.com/category/homebuilders/">Homebuilders</a> stocks, starting with number 3.
Stock #3: PulteGroup, Inc. (<a href="https://stocknews.com/stock/PHM/">PHM</a>)
PHM engages in the homebuilding business in the United States. It acquires and develops land primarily for residential purposes and constructs housing on such land. The company also offers various home designs under the Centex, Pulte Homes, Del Webb, DiVosta Homes, American West, and John Wieland Homes and Neighborhoods brand names.
On September 4, 2024, PHM announced a quarterly cash dividend of $0.20 per share, payable on October 2, 2024, to shareholders of record as of September 17, 2024.
On July 9, 2024, PHM announced the pre-sale of Deep Creek at Jordanelle Ridge, its first Utah community in over 20 years. Located in Heber City, it offers outdoor living with city conveniences, featuring eight home designs, along with upcoming townhomes and amenities.
PHM's total revenues for the fiscal second quarter that ended on June 30, 2024, increased 9.8% year-over-year to $4.60 billion. The company's <a href="https://www.investopedia.com/terms/n/netincome.asp">net income</a> came in at $809.13 million, representing a 12.3% year-over-increase, while its EPS grew 19.3% over the prior-year quarter to $3.83.
Street expects PHM's revenue for the quarter ending September 2024 to increase 7.1% year-over-year to $4.29 billion. Its EPS for the same quarter is expected to increase 10.1% year-over-year to $3.19. It surpassed the consensus EPS estimates in each of the trailing four quarters.
Over the past year, the stock has gained 42.3% to close the last trading session at $142.97.
PHM's positive outlook is reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. It has an overall rating of B, equating to a Buy in our proprietary rating system. The POWR Ratings assess stocks by 118 different factors, each with its own weighting.
It is ranked #5 out of 23 stocks in the <a href="https://stocknews.com/category/homebuilders/">Homebuilders</a> industry. PHM has an A grade for Momentum and a B for Quality.
To access PHM's grades for Growth, Sentiment, Value, and Stability, <a href="https://stocknews.com/stock/PHM/">click here</a>.
Stock #2: NVR, Inc. (<a href="https://stocknews.com/stock/NVR/">NVR</a>)
NVR is a homebuilder in the United States, operating through its Homebuilding and Mortgage Banking segments. It engages in the construction and sale of single-family detached homes, townhomes, and condominium buildings under the Ryan Homes, NVHomes, and Heartland Homes names.
On April 25, NVR announced the signing of an agreement with La Cité Development, a leading real estate development corporation, to add 180 units of single-family homes to a large-scale redevelopment of 32.94 acres in Poppleton, West Baltimore, for approximately $800 million.
For the fiscal second quarter ended June 30, 2024, NVR's revenue increased 11.6% year-over-year to $2.55 billion, and its operating income was $495.25 million, up 12.2% from the year-ago value. Its net income was $400.90 million. Additionally, the company's EPS rose 3.6% from the prior-year quarter to $120.69.
Analysts expect NVR's revenue and EPS for the quarter ending September 2024 to increase by 7.1% and 5% year-over-year to $2.69 billion and $131.52, respectively. NVR surpassed Street EPS estimates in three of the trailing four quarters.
Over the past nine months, the stock has gained 38.7% to close the last trading session at $9,636.
NVR's solid prospects are reflected in its POWR Ratings. It has an overall rating of B, equating to a Buy in our proprietary rating system.
It has an A grade for Momentum and a B for Sentiment and Quality. It is ranked #4 in the Homebuilders industry.
<a href="https://stocknews.com/stock/NVR/">Click here</a> to see NVR's Growth, Value, and Stability ratings.
Stock #1: Tri Pointe Homes, Inc. (<a href="https://stocknews.com/stock/TPH/">TPH</a>)
TPH specializes in the construction and sale of single-family attached and detached homes. It sells its homes through its sales representatives and third-party brokers under six regional brands: Maracay, Pardee Homes, Quadrant Homes, Trendmaker Homes, Winchester Homes, and TRI Pointe Homes.
On September 11, TPH unveiled Alterra, a 62-home neighborhood located in Newcastle, Washington, where Eastside homebuyers will soon have the opportunity to purchase homes. With newer portfolios that are changing with ever-evolving customer preferences, TPH is staying on top of the homebuilder's industry and ensuring a stable growth prospect.
For its fiscal second quarter that ended June 30, 2024, TPH's total revenues increased 37.6% year-over-year to $1.14 billion. Its net income available to common stockholders came in at $118 million or $1.25 per share, indicating increases of 94.3% and 108.3% year-over-year, respectively. Additionally, the company's adjusted EBITDA came in at $216 million, increasing 66.2% year-over-year.
Street expects TPH's revenue and EPS for the fiscal third quarter ending September 2024 to increase by 27.3% and 41.7% year-over-year to $1.05 billion and $1.08, respectively. Additionally, it surpassed the EPS and revenue estimates in each of its trailing four quarters, which is excellent.
Over the past nine months, the stock has gained 31.3% to close the last trading session at $44.83.
It's no surprise that TPH has an overall rating of B, which equates to Buy in our proprietary rating system. It has an A grade for Momentum and a B for Value, Growth, and Sentiment. Out of 23 stocks in the same industry, it is ranked #3.
In addition to the POWR Ratings we've stated above, we also have TPH's ratings for Stability and Quality. Get all TPH ratings <a href="https://stocknews.com/stock/TPH/">here</a>.
What To Do Next?
Discover 10 widely held stocks that our proprietary model shows have tremendous downside potential. Please make sure none of these "death trap" stocks are lurking in your portfolio:
<a href="https://report.stocknews.com/free-report/10-stocks-to-sell/?formplacement=artbotad_10sell">10 Stocks to SELL NOW! &gt;</a>
<hr><div style="clear:both;"></div> <h2>About the Author: Anushka Dutta</h2> <img src='https:/wp-content/uploads/2021/08/Anushka-Dutta_Headshot_3.jpg' style="float:left; padding:5px;width:125px;">Anushka is an analyst whose interest in understanding the impact of broader economic changes on financial markets motivated her to pursue a career in investment research.<a href="https://stocknews.com/authors/?author=anushka-dutta">More...</a>The post <a href=https://stocknews.com/news/nvr-phm-tph-3-construction-stocks-to-buy-for-the-housing-market-surge/>3 Construction Stocks to Buy for the Housing Market Surge</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Construction Stocks to Buy for the Housing Market Surge

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Press Releases

Tri Pointe Homes, Inc. Reports 2024 First Quarter Results

Management

Tri Pointe Homes Promotes Linda Mamet to Executive Vice President and Names Urmila Menon as Chief Information Officer

Tri Pointe Homes, Inc. Announces Second Quarter 2024 Earnings Release and Conference Call Date

Tri Pointe Homes, Inc. Reports 2024 Second Quarter Results

General

Tri Pointe Homes Introduces its First Altis 55+ Lifestyle Brand Community on the East Coast

Tri Pointe Homes' Raleigh Division Continues Exponential Growth with Two New Community Openings

Tri Pointe Homes Receives 2024 People Companies That Care® Accolade  and 2024 Fortune Best Workplaces in Construction™ Distinction

Tri Pointe Homes Unveils Alterra, Newcastle's Latest 62-Home Community With Models Designed by Bobby Berk

Tri Pointe Homes, Inc. Releases 2023 Sustainability Report

Tri Pointe Homes, Inc. Announces Third Quarter 2024 Earnings Release and Conference Call Date

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