Shares of Tri Pointe Homes (TPH) have been strong performers lately, with the stock up 5.8% over the past month. The stock hit a new 52-week high of $26.62 in the previous session. Tri Pointe Homes has gained 50.5% since the start of the year compared to the 28.1% move for the Zacks Construction sector and the 29.6% return for the Zacks Building Products - Home Builders industry.What's Driving the Outperformance?The stock has a great record of positive earnings surprises, as it hasn't missed our earnings consensus estimate in any of the last four quarters. In its last earnings report on October 21, 2021, Tri Pointe reported EPS of $1.17 versus consensus estimate of $0.89.For the current fiscal year, Tri Pointe is expected to post earnings of $3.91 per share on $3.92 billion in revenues. This represents an 80.18% change in EPS on a 21.22% change in revenues. For the next fiscal year, the company is expected to earn $4.29 per share on $4.23 billion in revenues. This represents a year-over-year change of 9.63% and 7.67%, respectively.Valuation MetricsTri Pointe may be at a 52-week high right now, but what might the future hold for the stock? A key aspect of this question is taking a look at valuation metrics in order to determine if the company is due for a pullback from this level.On this front, we can look at the Zacks Style Scores, as they provide investors with an additional way to sort through stocks (beyond looking at the Zacks Rank of a security). These styles are represented by grades running from A to F in the categories of Value, Growth, and Momentum, while there is a combined VGM Score as well. The idea behind the style scores is to help investors pick the most appropriate Zacks Rank stocks based on their individual investment style.Tri Pointe has a Value Score of A. The stock's Growth and Momentum Scores are B and F, respectively, giving the company a VGM Score of B.In terms of its value breakdown, the stock currently trades at 6.6X current fiscal year EPS estimates. On a trailing cash flow basis, the stock currently trades at 9.7X versus its peer group's average of 10.8X. This isn't enough to put the company in the top echelon of all stocks we cover from a value perspective.Zacks RankWe also need to consider the stock's Zacks Rank, as this supersedes any trend on the style score front. Fortunately, Tri Pointe currently has a Zacks Rank of #2 (Buy) thanks to rising earnings estimates.Since we recommend that investors select stocks carrying Zacks Rank of 1 (Strong Buy) or 2 (Buy) and Style Scores of A or B, it looks as if Tri Pointe passes the test. Thus, it seems as though Tri Pointe shares could have a bit more room to run in the near term. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Tri Pointe Homes Inc. (TPH): Free Stock Analysis Report To read this article on Zacks.com click here.