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

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

A number of other equities analysts have also weighed in on the company. Wedbush restated a neutral rating and issued a $35.00 target price on shares of Tri Pointe Homes in a research note on Thursday, April 25th. Royal Bank of Canada raised their target price on shares of Tri Pointe Homes from $38.00 to $42.00 and gave the company an outperform rating in a research note on Friday. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $40.60.

Tri Pointe Homes Price Performance

Shares of NYSE:TPH opened at $37.75 on Friday. The company has a 50 day moving average of $35.85 and a 200 day moving average of $33.09. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.45. The stock has a market cap of $3.58 billion, a P/E ratio of 10.07, a P/E/G ratio of 0.80 and a beta of 1.54. Tri Pointe Homes has a 12 month low of $24.18 and a 12 month high of $39.08.

Tri Pointe Homes (NYSE:TPH) last released its quarterly 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 net margin of 9.62% and a return on equity of 12.39%. The firm had revenue of $918.40 million during the quarter, compared to analyst estimates of $867.77 million. During the same period in the previous year, the business earned $0.73 EPS. The business’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 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, COO Thomas J. Mitchell sold 51,533 shares of the 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 in the company, valued at approximately $27,666,824.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On Tri Pointe Homes

A number of institutional investors have recently made changes to their positions in TPH. Invesco Ltd. lifted its stake 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 worth $28,526,000 after purchasing an additional 137,175 shares during the last quarter. TD Asset Management Inc lifted its stake in shares of Tri Pointe Homes by 73.3% in the 3rd quarter. TD Asset Management Inc now owns 80,400 shares of the construction company’s stock valued at $2,199,000 after acquiring an additional 34,000 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings 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 valued at $184,000 after acquiring an additional 1,569 shares during the period. Assenagon Asset Management S.A. grew its position 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 acquiring an additional 153,994 shares during the last quarter. Finally, Richard Bernstein Advisors LLC purchased a new position in Tri Pointe Homes in the 3rd quarter worth approximately $4,886,000. 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.