Tri Pointe Homes (NYSE:TPH) Price Target Raised to $42.00 at Royal Bank of Canada

Tri Pointe Homes (NYSE:TPH) had its target price lifted by stock analysts at Royal Bank of Canada from $38.00 to $42.00 in a report issued on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the construction company’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 10.88% from the company’s previous close.

A number of other research firms have also weighed in on TPH. Oppenheimer restated an “outperform” rating and issued a $41.00 target price (up previously from $36.00) on shares of Tri Pointe Homes in a report on Wednesday, February 21st. Wedbush restated a “neutral” rating and issued a $35.00 target price on shares of Tri Pointe Homes in a report on Thursday. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Tri Pointe Homes currently has an average rating of “Moderate Buy” and an average price target of $40.60.

Tri Pointe Homes Trading Up 2.9 %

TPH opened at $37.88 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.99 and a quick ratio of 2.11. Tri Pointe Homes has a fifty-two week low of $24.18 and a fifty-two week high of $39.08. The firm has a market capitalization of $3.61 billion, a PE ratio of 10.10, a P/E/G ratio of 0.77 and a beta of 1.54. The company’s 50-day moving average is $35.79 and its 200 day moving average is $32.98.

Tri Pointe Homes (NYSE:TPH) last posted its earnings results 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. Tri Pointe Homes had a net margin of 9.62% and a return on equity of 12.39%. The company had revenue of $918.40 million for the quarter, compared to analyst estimates of $867.77 million. During the same quarter in the prior year, the business posted $0.73 EPS. The firm’s revenue was up 19.5% compared to the same quarter last year. As a group, research analysts predict that Tri Pointe Homes will post 3.65 earnings per share for the current fiscal year.

Insider Buying and Selling at Tri Pointe Homes

In other Tri Pointe Homes news, COO Thomas J. Mitchell sold 51,533 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $35.22, for a total value of $1,814,992.26. Following the completion of the sale, the chief operating officer now owns 785,543 shares in the company, valued at approximately $27,666,824.46. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Tri Pointe Homes

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Diversified Trust Co grew its position in shares of Tri Pointe Homes by 2.7% during the 4th quarter. Diversified Trust Co now owns 12,506 shares of the construction company’s stock valued at $443,000 after acquiring an additional 330 shares during the period. Oliver Luxxe Assets LLC grew its position in shares of Tri Pointe Homes by 1.2% during the 1st quarter. Oliver Luxxe Assets LLC now owns 29,399 shares of the construction company’s stock valued at $1,137,000 after acquiring an additional 354 shares during the period. Quadrant Capital Group LLC grew its position in shares of Tri Pointe Homes by 21.5% during the 4th quarter. Quadrant Capital Group LLC now owns 2,748 shares of the construction company’s stock valued at $97,000 after acquiring an additional 487 shares during the period. Cavalier Investments LLC grew its position in shares of Tri Pointe Homes by 3.8% during the 3rd quarter. Cavalier Investments LLC now owns 17,120 shares of the construction company’s stock valued at $468,000 after acquiring an additional 629 shares during the period. Finally, Nisa Investment Advisors LLC grew its position in shares of Tri Pointe Homes by 105.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,362 shares of the construction company’s stock valued at $48,000 after acquiring an additional 700 shares during the period. Hedge funds and other 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.