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

Tri Pointe Homes (NYSE:TPH) had its target price raised by research analysts at Oppenheimer from $41.00 to $46.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the construction company’s stock. Oppenheimer’s target price would indicate a potential upside of 21.85% from the stock’s previous close.

Several other equities analysts have also issued reports on TPH. 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. Wedbush reaffirmed a “neutral” rating and set a $35.00 target price on shares of Tri Pointe Homes in a report on Thursday. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $40.60.

Tri Pointe Homes Price Performance

TPH traded up $0.93 during trading on Friday, reaching $37.75. 430,055 shares of the company traded hands, compared to its average volume of 1,057,247. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.11 and a current ratio of 2.11. Tri Pointe Homes has a 12-month low of $24.18 and a 12-month high of $39.08. The firm has a fifty day simple moving average of $35.73 and a 200 day simple moving average of $32.86. The company has a market cap of $3.60 billion, a P/E ratio of 10.96, a PEG ratio of 0.76 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 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.34. The firm had revenue of $918.40 million during the quarter, compared to the consensus estimate of $867.77 million. Tri Pointe Homes had a return on equity of 11.75% and a net margin of 9.37%. The company’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.73 EPS. On average, equities analysts forecast that Tri Pointe Homes will post 3.65 EPS for the current year.

Insider Buying and Selling at Tri Pointe Homes

In other news, COO Thomas J. Mitchell sold 51,533 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $35.22, for a total value of $1,814,992.26. Following the transaction, 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 filing with the SEC, which is accessible through the SEC website. 2.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tri Pointe Homes

Several hedge funds have recently bought and sold shares of TPH. Pacer Advisors Inc. raised its position in Tri Pointe Homes by 63.8% in the 4th quarter. Pacer Advisors Inc. now owns 3,913,521 shares of the construction company’s stock valued at $138,539,000 after purchasing an additional 1,524,401 shares in the last quarter. GW&K Investment Management LLC acquired a new stake in shares of Tri Pointe Homes during the 4th quarter worth about $24,389,000. Norges Bank acquired a new stake in shares of Tri Pointe Homes during the 4th quarter worth about $22,862,000. American Century Companies Inc. raised its position in shares of Tri Pointe Homes by 21.7% during the 3rd quarter. American Century Companies Inc. now owns 1,683,362 shares of the construction company’s stock worth $46,040,000 after acquiring an additional 300,383 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its position in Tri Pointe Homes by 44.5% during the third quarter. Robeco Institutional Asset Management B.V. now owns 800,710 shares of the construction company’s stock worth $21,899,000 after buying an additional 246,648 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.