Tri Pointe Homes (NYSE:TPH) Price Target Raised to $42.00

Tri Pointe Homes (NYSE:TPH) had its price objective increased by Royal Bank of Canada from $38.00 to $42.00 in a report released on Friday morning, Benzinga reports. They currently have an outperform rating on the construction company’s stock.

Several other equities analysts have also recently issued reports on the stock. Oppenheimer reiterated an outperform rating and issued a $41.00 target price (up from $36.00) on shares of Tri Pointe Homes in a research note on Wednesday, February 21st. Wedbush reiterated a neutral rating and issued a $35.00 target price on shares of Tri Pointe Homes in a research note on Thursday. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $40.60.

Tri Pointe Homes Stock Performance

TPH opened at $37.88 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.99 and a quick ratio of 2.11. The firm has a fifty day moving average price of $35.79 and a 200 day moving average price of $33.01. Tri Pointe Homes has a 1 year low of $24.18 and a 1 year high of $39.08. The stock has a market cap of $3.62 billion, a P/E ratio of 10.10, a P/E/G ratio of 0.80 and a beta of 1.54.

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 net margin of 9.62% and a return on equity of 12.39%. The firm had revenue of $918.40 million during the quarter, compared to analysts’ expectations of $867.77 million. During the same period in the previous year, the business posted $0.73 EPS. The business’s revenue was up 19.5% compared to the same quarter last year. Equities research analysts anticipate that Tri Pointe Homes will post 3.65 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Thomas J. Mitchell sold 51,533 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $35.22, for a total value of $1,814,992.26. Following the completion of the sale, the chief operating officer now owns 785,543 shares of the company’s stock, valued at approximately $27,666,824.46. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Tri Pointe Homes

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Daiwa Securities Group Inc. purchased a new stake in Tri Pointe Homes in the 4th quarter worth $35,000. Evermay Wealth Management LLC purchased a new stake in shares of Tri Pointe Homes during the fourth quarter worth $35,000. GAMMA Investing LLC purchased a new stake in shares of Tri Pointe Homes during the fourth quarter worth $41,000. Assetmark Inc. grew 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 buying an additional 1,193 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew 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 buying an additional 700 shares in the last quarter. Hedge funds and other institutional investors own 97.01% of the company’s stock.

About Tri Pointe Homes

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.