Tri Pointe Homes (NYSE:TPH) Price Target Increased to $46.00 by Analysts at Oppenheimer

Tri Pointe Homes (NYSE:TPH) had its price objective raised by Oppenheimer from $41.00 to $46.00 in a research report report published on Friday morning, Benzinga reports. The firm currently has an outperform rating on the construction company’s stock.

TPH has been the subject of a number of other reports. Royal Bank of Canada upped their price objective on Tri Pointe Homes from $38.00 to $42.00 and gave the stock an outperform rating in a research note on Friday. Wedbush restated a neutral rating and set a $35.00 price objective on shares of Tri Pointe Homes in a research note on Thursday. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $40.60.

Tri Pointe Homes Price Performance

Shares of TPH stock opened at $37.87 on Friday. Tri Pointe Homes has a twelve month low of $24.18 and a twelve month high of $39.08. The stock has a market capitalization of $3.61 billion, a price-to-earnings ratio of 10.10, a P/E/G ratio of 0.77 and a beta of 1.54. The stock has a fifty day simple moving average of $35.79 and a two-hundred day simple moving average of $32.94. The company has a current ratio of 1.99, a quick ratio of 2.11 and a debt-to-equity ratio of 0.45.

Tri Pointe Homes (NYSE:TPH) last issued its quarterly earnings data on Thursday, April 25th. The construction company reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.34. The firm had revenue of $918.40 million during the quarter, compared to analysts’ expectations of $867.77 million. Tri Pointe Homes had a return on equity of 12.39% and a net margin of 9.62%. The firm’s quarterly revenue was up 19.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.73 EPS. On average, analysts predict that Tri Pointe Homes will post 3.65 EPS for the current fiscal year.

Insider Activity at Tri Pointe Homes

In related news, COO Thomas J. Mitchell sold 51,533 shares of the company’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $35.22, for a total transaction of $1,814,992.26. Following the transaction, the chief operating officer now directly 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 Securities & Exchange Commission, which is available at this link. 2.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Pacer Advisors Inc. increased its holdings in shares of Tri Pointe Homes by 63.8% in the fourth 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 during the period. GW&K Investment Management LLC acquired a new position in shares of Tri Pointe Homes in the fourth quarter valued at about $24,389,000. Norges Bank acquired a new position in shares of Tri Pointe Homes in the fourth quarter valued at about $22,862,000. American Century Companies Inc. increased its holdings in shares of Tri Pointe Homes by 21.7% in the third quarter. American Century Companies Inc. now owns 1,683,362 shares of the construction company’s stock valued at $46,040,000 after purchasing an additional 300,383 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its holdings in shares of Tri Pointe Homes by 44.5% in the third quarter. Robeco Institutional Asset Management B.V. now owns 800,710 shares of the construction company’s stock valued at $21,899,000 after purchasing an additional 246,648 shares during the period. 97.01% of the stock is owned by institutional investors and hedge funds.

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.