Oppenheimer Has Lowered Expectations for Tri Pointe Homes (NYSE:TPH) Stock Price

Tri Pointe Homes (NYSE:TPH) had its target price decreased by Oppenheimer from $53.00 to $43.00 in a research report report published on Wednesday morning,Benzinga reports. Oppenheimer currently has an outperform rating on the construction company’s stock.

A number of other equities analysts have also recently commented on the stock. Evercore ISI reduced their price objective on shares of Tri Pointe Homes from $54.00 to $42.00 and set an “outperform” rating for the company in a research report on Wednesday. Wedbush reaffirmed a “neutral” rating and set a $38.00 price objective (down from $44.00) on shares of Tri Pointe Homes in a research report on Tuesday. StockNews.com downgraded Tri Pointe Homes from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. Finally, Royal Bank of Canada downgraded Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $41.00 to $37.00 in a report on Wednesday. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $40.60.

Tri Pointe Homes Price Performance

Shares of TPH opened at $30.79 on Wednesday. The stock has a market capitalization of $2.88 billion, a P/E ratio of 6.37, a P/E/G ratio of 0.49 and a beta of 1.64. Tri Pointe Homes has a twelve month low of $30.25 and a twelve month high of $47.78. The company has a 50 day moving average of $36.32 and a 200-day moving average of $40.63. The company has a quick ratio of 1.64, a current ratio of 2.24 and a debt-to-equity ratio of 0.28.

Tri Pointe Homes (NYSE:TPH) last released its earnings results on Tuesday, February 18th. The construction company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.07. Tri Pointe Homes had a net margin of 10.36% and a return on equity of 14.34%. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.22 billion. As a group, equities research analysts forecast that Tri Pointe Homes will post 4.8 EPS for the current fiscal year.

Tri Pointe Homes declared that its board has approved a share buyback plan on Wednesday, December 18th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the construction company to buy up to 7.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at Tri Pointe Homes

In other Tri Pointe Homes news, COO Thomas J. Mitchell sold 77,384 shares of Tri Pointe Homes stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $39.15, for a total value of $3,029,583.60. Following the transaction, the chief operating officer now owns 708,159 shares in the company, valued at $27,724,424.85. The trade was a 9.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Covestor Ltd grew its position in Tri Pointe Homes by 58.5% in the fourth quarter. Covestor Ltd now owns 908 shares of the construction company’s stock valued at $33,000 after acquiring an additional 335 shares during the last quarter. Reston Wealth Management LLC bought a new position in Tri Pointe Homes in the third quarter valued at about $45,000. Smartleaf Asset Management LLC grew its holdings in shares of Tri Pointe Homes by 84.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,339 shares of the construction company’s stock worth $49,000 after purchasing an additional 613 shares during the last quarter. Assetmark Inc. grew its holdings in shares of Tri Pointe Homes by 19.6% during the fourth quarter. Assetmark Inc. now owns 1,827 shares of the construction company’s stock worth $66,000 after purchasing an additional 300 shares during the last quarter. Finally, Sterling Capital Management LLC grew its holdings in shares of Tri Pointe Homes by 729.5% during the fourth quarter. Sterling Capital Management LLC now owns 2,082 shares of the construction company’s stock worth $75,000 after purchasing an additional 1,831 shares during the last quarter. 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.