Tri Pointe Homes (NYSE:TPH) Price Target Cut to $53.00

Tri Pointe Homes (NYSE:TPH) had its price target dropped by stock analysts at Oppenheimer from $56.00 to $53.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has an “outperform” rating on the construction company’s stock. Oppenheimer’s price target would suggest a potential upside of 31.58% from the stock’s previous close.

TPH has been the topic of a number of other research reports. Wedbush reissued a “neutral” rating and set a $42.00 price target on shares of Tri Pointe Homes in a research report on Thursday. Royal Bank of Canada raised their price target on Tri Pointe Homes from $42.00 to $48.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Evercore ISI raised Tri Pointe Homes to a “strong-buy” rating in a research note on Friday, July 26th. Finally, Zelman & Associates upgraded shares of Tri Pointe Homes from an “underperform” rating to a “neutral” rating and set a $43.00 price objective on the stock in a research note on Tuesday, September 17th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Tri Pointe Homes presently has an average rating of “Moderate Buy” and an average target price of $45.75.

Tri Pointe Homes Stock Down 1.1 %

TPH stock opened at $40.28 on Friday. Tri Pointe Homes has a fifty-two week low of $24.18 and a fifty-two week high of $47.78. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. The stock has a market capitalization of $3.77 billion, a price-to-earnings ratio of 9.15, a PEG ratio of 0.70 and a beta of 1.59. The business’s fifty day moving average price is $43.98 and its two-hundred day moving average price is $40.83.

Tri Pointe Homes (NYSE:TPH) last released its quarterly earnings results on Thursday, October 24th. The construction company reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.16. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.05 billion. Tri Pointe Homes had a net margin of 10.28% and a return on equity of 14.03%. Tri Pointe Homes’s revenue for the quarter was up 34.9% compared to the same quarter last year. During the same period last year, the firm earned $0.76 earnings per share. On average, equities analysts anticipate that Tri Pointe Homes will post 4.68 earnings per share for the current year.

Insider Activity at Tri Pointe Homes

In other Tri Pointe Homes news, CFO Glenn J. Keeler sold 24,200 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $46.16, for a total transaction of $1,117,072.00. Following the completion of the transaction, the chief financial officer now owns 149,108 shares of the company’s stock, valued at approximately $6,882,825.28. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Glenn J. Keeler sold 24,200 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $46.16, for a total value of $1,117,072.00. Following the sale, the chief financial officer now directly owns 149,108 shares in the company, valued at approximately $6,882,825.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel David Ch Lee sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $44.28, for a total transaction of $221,400.00. Following the transaction, the general counsel now owns 85,792 shares of the company’s stock, valued at approximately $3,798,869.76. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tri Pointe Homes

Several hedge funds have recently modified their holdings of TPH. PNC Financial Services Group Inc. raised its position in Tri Pointe Homes by 94.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,407 shares of the construction company’s stock valued at $262,000 after purchasing an additional 3,588 shares during the last quarter. Oliver Luxxe Assets LLC raised its holdings in Tri Pointe Homes by 1.2% in the 1st quarter. Oliver Luxxe Assets LLC now owns 29,399 shares of the construction company’s stock valued at $1,137,000 after buying an additional 354 shares during the last quarter. First Trust Direct Indexing L.P. acquired a new stake in Tri Pointe Homes during the 1st quarter worth approximately $200,000. BNP Paribas Financial Markets grew its holdings in Tri Pointe Homes by 132.8% during the 1st quarter. BNP Paribas Financial Markets now owns 122,337 shares of the construction company’s stock worth $4,730,000 after acquiring an additional 69,789 shares during the last quarter. Finally, Capstone Investment Advisors LLC increased its position in Tri Pointe Homes by 10.9% in the 1st quarter. Capstone Investment Advisors LLC now owns 15,786 shares of the construction company’s stock valued at $610,000 after acquiring an additional 1,548 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.