Opinions
Gordon Reid
Tri Point Homes, |Inc
TPH-N
PAST TOP PICK
Sep 19, 2017
$13.110
Stock price when the opinion was issued
0
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(A Top Pick Oct 18/16. Up 3%.) A relatively small homebuilder in a handful of states, primarily in the south west, and branded under a lot of different names. They also have some exposure to Texas. Thinks the whole group will move because household formation is still in a low trend. It has moved in the last 3 decades between 500,00 and 2.5 million units a year. Right now, it is just over 1 million. To keep up with population growth, 1.5 million has to be done. These builders are all very inexpensive, most trading below 10X earnings, and he thinks they have a 15%-18% growth metric in front of them. This is a good entry point.