Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Tri Pointe Homes delivered a robust performance in the second quarter of 2024, showcasing an adept response to current market conditions and strategic planning.</li><li>The company reported a substantial increase in home deliveries, up by 45%, leading to significant revenue growth.</li><li>Home sales revenue rose to $1.1 billion, marking a 38% upsurge from the previous year, primarily driven by increased community counts and optimized cycle times.</li></ul>

Tri Pointe Homes delivered a robust performance in the second quarter of 2024, showcasing an adept response to current market conditions and strategic planning.The company reported a substantial increase in home deliveries, up by 45%, leading to significant revenue growth.Home sales revenue rose to $1.1 billion, marking a 38% upsurge from the previous year, primarily driven by increased community counts and optimized cycle times.

Tri Pointe Homes Inc.: Enhanced Geographic Diversification

<ul><li>Tri Pointe Homes reported a robust first quarter for 2024, presenting compelling financial results that surpassed the upper limits of its own forecast in several key operational measures.</li><li>During this period, the company achieved home sales revenue of $918 million, marking a 20% increase from the prior year, with an average selling price (ASP) of $659,000 per home and a total of 1,393 homes delivered.</li><li>This result was bolstered by home sales gross margins arriving at 23%, lining up with the higher expectations set by the company due to reduced incentives.</li></ul>

Tri Pointe Homes reported a robust first quarter for 2024, presenting compelling financial results that surpassed the upper limits of its own forecast in several key operational measures.During this period, the company achieved home sales revenue of $918 million, marking a 20% increase from the prior year, with an average selling price (ASP) of $659,000 per home and a total of 1,393 homes delivered.This result was bolstered by home sales gross margins arriving at 23%, lining up with the higher expectations set by the company due to reduced incentives.

Tri Pointe Homes Inc.: Initiation of Coverage - What Is The Expected Impact Of The Optimization of Sales Strategies and Pricing Power? - Major Drivers

<ul><li>This is our first report on Tri Pointe Homes.</li><li>The company delivered robust performance in 2023, concluding with a strong fourth quarter where they surpassed the high end of their key operating metrics.</li><li>The company delivered 1,813 homes, achieving home sales revenue of $1.2 billion and diluted earnings per share of $1.36.</li></ul>

This is our first report on Tri Pointe Homes.The company delivered robust performance in 2023, concluding with a strong fourth quarter where they surpassed the high end of their key operating metrics.The company delivered 1,813 homes, achieving home sales revenue of $1.2 billion and diluted earnings per share of $1.36.

Tri Pointe Homes: Initiation Of Coverage - These Are The 3 Biggest Challenges In Its Path! - Major Drivers

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<ul>
<li>We still recommend a tactical overweight to defensives (Staples, Utilities, Healthcare, and gold miners) as the SPX tests our 4165-4200 resistance range, and also resistance from the prior 1.5-month uptrend.</li>
<li>As we await Wednesdays FOMC announcement, the DJIA and Nasdaq Composite are testing 1-year resistances at 34,280 and 12,300, the DXY appears to be inflecting higher, and breadth remains weak.</li>
<li>While we still see a reach to 4300-4325 as possible, we believe playing for more upside is akin to picking up pennies in front of a steamroller.</li>
</ul>


We still recommend a tactical overweight to defensives (Staples, Utilities, Healthcare, and gold miners) as the SPX tests our 4165-4200 resistance range, and also resistance from the prior 1.5-month uptrend.
As we await Wednesdays FOMC announcement, the DJIA and Nasdaq Composite are testing 1-year resistances at 34,280 and 12,300, the DXY appears to be inflecting higher, and breadth remains weak.
While we still see a reach to 4300-4325 as possible, we believe playing for more upside is akin to picking up pennies in front of a steamroller.


S&P 500 Testing 4165-4200, DJIA Testing 34,280, Nasdaq Composite Testing 12,300; Stay Defensive

<p>As the major averages break topside their respective 50-day M.A.s - a positive in its own right - we are encouraged by the shift away from growth &amp; defensives toward the down-and-out laggards in the value arena. It is too early to tell for certain if these are anything more than short-term countertrend moves, but for now the moves we are seeing give us reason for optimism -- something that was running very low just one week ago. In today’s report we highlight attractive Groups and stocks within Consumer Discretionary, Manufacturing, and Transportation: Homebuilding, Small-Cap, Auto Parts, Large-Cap, Trucking, Large-Cap, and Trucking, Small-Cap.</p>

As the major averages break topside their respective 50-day M.A.s - a positive in its own right - we are encouraged by the shift away from growth &amp; defensives toward the down-and-out laggards in the value arena. It is too early to tell for certain if these are anything more than short-term countertrend moves, but for now the moves we are seeing give us reason for optimism -- something that was running very low just one week ago. In today’s report we highlight attractive Groups and stocks within Consumer Discretionary, Manufacturing, and Transportation: Homebuilding, Small-Cap, Auto Parts, Large-Cap, Trucking, Large-Cap, and Trucking, Small-Cap.

U.S. Equity Strategy: Value Closes the Gap on Growth

United States

TRI Pointe Group, Inc. provides construction services. The Company designs, builds, develops, and constructs residential homes. TRI Pointe Homes serves customers throughout the United States.

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Tri Pointe Group (TPH US)

Tri Pointe Homes Inc.: Enhanced Geographic Diversification

Tri Pointe Homes delivered a robust performance in the second quarter of 2024, showcasing an adept response to current market conditions and...

Baptista Research

Tri Pointe Homes Inc.: Initiation of Coverage - What Is The Expected Impact Of The Optimization of Sales Strategies and Pricing Power? - Major Drivers

Tri Pointe Homes reported a robust first quarter for 2024, presenting compelling financial results that surpassed the upper limits of its own...

Baptista Research

Tri Pointe Homes: Initiation Of Coverage - These Are The 3 Biggest Challenges In Its Path! - Major Drivers

This is our first report on Tri Pointe Homes. The company delivered robust performance in 2023, concluding with a strong fourth quarter where they...

Baptista Research

S&P 500 Testing 4165-4200, DJIA Testing 34,280, Nasdaq Composite Testing 12,300; Stay Defensive

$SPX testing our 4165-4200 resistance range, $DJI testing 34,280 1-yr resistance, Nasdaq Comp $COMPQ testing critical 12,300 resistance. All while...

Vermilion Research

U.S. Equity Strategy: Value Closes the Gap on Growth

As the major averages break topside their respective 50-day M.A.s - a positive in its own right - we are encouraged by the shift away from growth...

Vermilion Research

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