Tri Pointe Homes (NYSE:TPH) Price Target Raised to $56.00

Tri Pointe Homes (NYSE:TPH) had its target price boosted by Oppenheimer from $54.00 to $56.00 in a report published on Wednesday morning, Benzinga reports. The brokerage currently has an outperform rating on the construction company’s stock.

A number of other research analysts have also issued reports on TPH. Wedbush restated a neutral rating and set a $42.00 target price on shares of Tri Pointe Homes in a research report on Thursday, July 25th. Zelman & Associates upgraded Tri Pointe Homes from an underperform rating to a neutral rating and set a $43.00 target price on the stock in a research report on Tuesday, September 17th. Royal Bank of Canada upped their price objective on shares of Tri Pointe Homes from $42.00 to $48.00 and gave the stock an outperform rating in a research report on Friday, July 26th. Finally, Evercore ISI upgraded shares of Tri Pointe Homes to a strong-buy rating in a report on Friday, July 26th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $47.25.

Tri Pointe Homes Stock Down 2.3 %

Shares of TPH stock opened at $43.82 on Wednesday. Tri Pointe Homes has a 52-week low of $24.18 and a 52-week high of $47.78. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29. The stock has a market cap of $4.10 billion, a price-to-earnings ratio of 11.69, a PEG ratio of 0.74 and a beta of 1.59. The firm’s 50-day moving average is $43.48 and its 200-day moving average is $40.16.

Tri Pointe Homes (NYSE:TPH) last posted its earnings results on Thursday, July 25th. The construction company reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.16. Tri Pointe Homes had a net margin of 10.28% and a return on equity of 14.03%. The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter last year, the company posted $0.60 EPS. Tri Pointe Homes’s quarterly revenue was up 38.3% compared to the same quarter last year. Sell-side analysts predict that Tri Pointe Homes will post 4.68 EPS for the current year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. grew its stake in Tri Pointe Homes by 94.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,407 shares of the construction company’s stock worth $262,000 after purchasing an additional 3,588 shares during the period. TD Asset Management Inc grew its position in shares of Tri Pointe Homes by 5.6% during the 4th quarter. TD Asset Management Inc now owns 84,900 shares of the construction company’s stock worth $3,005,000 after buying an additional 4,500 shares during the period. Rafferty Asset Management LLC increased its stake in shares of Tri Pointe Homes by 19.4% in the 4th quarter. Rafferty Asset Management LLC now owns 69,923 shares of the construction company’s stock valued at $2,475,000 after acquiring an additional 11,381 shares in the last quarter. Belpointe Asset Management LLC acquired a new position in shares of Tri Pointe Homes during the 4th quarter valued at $252,000. Finally, Keeley Teton Advisors LLC boosted its stake in Tri Pointe Homes by 17.6% during the fourth quarter. Keeley Teton Advisors LLC now owns 18,839 shares of the construction company’s stock worth $667,000 after acquiring an additional 2,815 shares in the last quarter. 97.01% of the stock is owned by institutional investors.

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.