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

Tri Pointe Homes (NYSE:TPH) had its price objective increased by equities researchers at Oppenheimer from $41.00 to $46.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the construction company’s stock. Oppenheimer’s price target would suggest a potential upside of 21.44% from the company’s current price.

A number of other brokerages have also recently commented on TPH. Royal Bank of Canada raised their target price on Tri Pointe Homes from $38.00 to $42.00 and gave the company an “outperform” rating in a report on Friday. Wedbush reiterated a “neutral” rating and issued a $35.00 price objective on shares of Tri Pointe Homes in a research note on Thursday. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.60.

Tri Pointe Homes Stock Performance

Shares of Tri Pointe Homes stock opened at $37.88 on Friday. The business has a 50-day moving average of $35.79 and a 200 day moving average of $32.98. Tri Pointe Homes has a 12 month low of $24.18 and a 12 month high of $39.08. The stock has a market capitalization of $3.61 billion, a price-to-earnings ratio of 10.10, a price-to-earnings-growth ratio of 0.77 and a beta of 1.54. 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 (NYSE:TPH) last announced 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. Tri Pointe Homes had a return on equity of 12.39% and a net margin of 9.62%. The company had revenue of $918.40 million during the quarter, compared to analysts’ expectations of $867.77 million. During the same period last year, the business posted $0.73 EPS. Tri Pointe Homes’s revenue for the quarter was up 19.5% on a year-over-year basis. As a group, sell-side analysts forecast that Tri Pointe Homes will post 3.65 earnings per share for the current year.

Insider Activity

In other news, COO Thomas J. Mitchell sold 51,533 shares of Tri Pointe Homes stock in a transaction dated 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 completion of the transaction, the chief operating officer now owns 785,543 shares in the company, valued at approximately $27,666,824.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Tri Pointe Homes

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Diversified Trust Co raised 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 worth $443,000 after acquiring an additional 330 shares in the last quarter. Oliver Luxxe Assets LLC raised 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 worth $1,137,000 after acquiring an additional 354 shares in the last quarter. Quadrant Capital Group LLC raised 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 worth $97,000 after acquiring an additional 487 shares in the last quarter. Cavalier Investments LLC raised 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 worth $468,000 after acquiring an additional 629 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised 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 worth $48,000 after acquiring an additional 700 shares in the last quarter. 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.