Tri Pointe Homes (NYSE:TPH) PT Raised to $46.00 at Oppenheimer

Tri Pointe Homes (NYSE:TPH) had its target price hoisted by investment analysts at Oppenheimer from $41.00 to $46.00 in a research report issued on Friday, Benzinga reports. The firm presently has an “outperform” rating on the construction company’s stock. Oppenheimer’s price target points to a potential upside of 21.44% from the company’s previous close.

Several other research firms have also issued reports on TPH. Wedbush reiterated a “neutral” rating and issued a $35.00 target price on shares of Tri Pointe Homes in a research note on Thursday. Royal Bank of Canada lifted their target price on Tri Pointe Homes from $38.00 to $42.00 and gave the company an “outperform” rating in a research note on Friday. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $40.60.

Tri Pointe Homes Stock Performance

Shares of Tri Pointe Homes stock opened at $37.88 on Friday. The firm has a market cap of $3.61 billion, a P/E ratio of 10.10, a P/E/G ratio of 0.77 and a beta of 1.54. The company has a current ratio of 1.99, a quick ratio of 2.11 and a debt-to-equity ratio of 0.45. Tri Pointe Homes has a 12 month low of $24.18 and a 12 month high of $39.08. The stock’s fifty day moving average price is $35.79 and its 200-day moving average price is $32.98.

Tri Pointe Homes (NYSE:TPH) last posted its earnings results on Thursday, April 25th. The construction company reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.34. Tri Pointe Homes had a return on equity of 12.39% and a net margin of 9.62%. The company had revenue of $918.40 million for the quarter, compared to analyst estimates of $867.77 million. During the same quarter in the previous year, the firm earned $0.73 earnings per share. The firm’s quarterly revenue was up 19.5% compared to the same quarter last year. On average, equities research analysts expect that Tri Pointe Homes will post 3.65 earnings per share for the current fiscal year.

Insider Transactions at Tri Pointe Homes

In other news, COO Thomas J. Mitchell sold 51,533 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $35.22, for a total transaction of $1,814,992.26. Following the sale, the chief operating officer now owns 785,543 shares in the company, valued at $27,666,824.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Tri Pointe Homes

Institutional investors and hedge funds have recently modified their holdings of the company. Daiwa Securities Group Inc. acquired a new stake in shares of Tri Pointe Homes during the fourth quarter worth about $35,000. Evermay Wealth Management LLC acquired a new stake in shares of Tri Pointe Homes during the fourth quarter worth about $35,000. GAMMA Investing LLC acquired a new stake in shares of Tri Pointe Homes during the fourth quarter worth about $41,000. Assetmark Inc. lifted its holdings in shares of Tri Pointe Homes by 29,825.0% during the fourth quarter. Assetmark Inc. now owns 1,197 shares of the construction company’s stock worth $42,000 after purchasing an additional 1,193 shares during the period. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of Tri Pointe Homes by 105.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,362 shares of the construction company’s stock worth $48,000 after purchasing an additional 700 shares during the period. Institutional investors and hedge funds own 97.01% of the company’s stock.

Tri Pointe Homes Company Profile

Tri Pointe Homes, Inc engages in the design, construction, and sale of single-family attached and detached homes in the United States. The company operates through a portfolio of six regional home building brands comprising Maracay in Arizona; Pardee Homes in California and Nevada; Quadrant Homes in Washington; Trendmaker Homes in Texas; TRI Pointe Homes in California, Colorado, and the Carolinas; and Winchester Homes in Maryland and Northern Virginia.