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

Tri Pointe Homes (NYSE:TPH) had its target price upped by investment analysts at Royal Bank of Canada from $38.00 to $42.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has an “outperform” rating on the construction company’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 11.23% from the company’s current price.

A number of other analysts also recently issued reports on the company. Oppenheimer reissued an “outperform” rating and set a $41.00 price objective (up from $36.00) on shares of Tri Pointe Homes in a research report on Wednesday, February 21st. Wedbush reissued a “neutral” rating and set a $35.00 price objective on shares of Tri Pointe Homes in a research report on Thursday. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $39.60.

Tri Pointe Homes Trading Up 2.6 %

Shares of TPH traded up $0.94 during midday trading on Friday, reaching $37.76. The company had a trading volume of 364,932 shares, compared to its average volume of 1,056,211. The firm has a 50 day simple moving average of $35.73 and a 200-day simple moving average of $32.86. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.46. The stock has a market cap of $3.60 billion, a PE ratio of 10.99, a price-to-earnings-growth ratio of 0.76 and a beta of 1.54. Tri Pointe Homes has a 1-year low of $24.18 and a 1-year high of $39.08.

Tri Pointe Homes (NYSE:TPH) last issued its quarterly earnings data on Thursday, April 25th. The construction company reported $1.03 earnings per share (EPS) 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 the consensus estimate of $867.77 million. Tri Pointe Homes had a return on equity of 11.75% and a net margin of 9.37%. The company’s quarterly revenue was up 19.5% on a year-over-year basis. During the same period last year, the company earned $0.73 EPS. Research analysts forecast that Tri Pointe Homes will post 3.65 EPS for the current fiscal year.

Insider Transactions at Tri Pointe Homes

In other news, COO Thomas J. Mitchell sold 51,533 shares of the firm’s stock in a transaction on 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 sale, the chief operating officer now directly 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 available through the SEC website. Corporate insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Tri Pointe Homes

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Invesco Ltd. lifted its position in Tri Pointe Homes by 15.1% in the third quarter. Invesco Ltd. now owns 1,042,993 shares of the construction company’s stock valued at $28,526,000 after acquiring an additional 137,175 shares during the last quarter. TD Asset Management Inc grew its stake in Tri Pointe Homes by 73.3% during the 3rd quarter. TD Asset Management Inc now owns 80,400 shares of the construction company’s stock worth $2,199,000 after buying an additional 34,000 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in Tri Pointe Homes by 30.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 6,728 shares of the construction company’s stock worth $184,000 after buying an additional 1,569 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in Tri Pointe Homes by 26.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 727,045 shares of the construction company’s stock worth $19,885,000 after buying an additional 153,994 shares during the last quarter. Finally, Richard Bernstein Advisors LLC purchased a new position in Tri Pointe Homes during the 3rd quarter worth approximately $4,886,000. 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.