Tri Pointe Homes (NYSE:TPH) Given New $54.00 Price Target at Oppenheimer

Tri Pointe Homes (NYSE:TPH) had its price target lifted by Oppenheimer from $46.00 to $54.00 in a research note published on Friday, Benzinga reports. The firm currently has an outperform rating on the construction company’s stock.

Other analysts have also issued research reports about the company. StockNews.com raised Tri Pointe Homes from a hold rating to a buy rating in a research report on Friday, April 26th. Royal Bank of Canada boosted their price objective on Tri Pointe Homes from $42.00 to $48.00 and gave the company an outperform rating in a report on Friday. Finally, Wedbush reissued a neutral rating and set a $42.00 target price on shares of Tri Pointe Homes in a research note on Thursday, July 25th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $45.50.

Tri Pointe Homes Stock Performance

Shares of Tri Pointe Homes stock opened at $46.04 on Friday. The firm has a market cap of $4.31 billion, a PE ratio of 12.28, a price-to-earnings-growth ratio of 0.76 and a beta of 1.59. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30. Tri Pointe Homes has a 52 week low of $24.18 and a 52 week high of $47.78. The business’s fifty day simple moving average is $39.27 and its 200-day simple moving average is $37.23.

Tri Pointe Homes (NYSE:TPH) last posted its earnings results on Thursday, July 25th. The construction company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.16. Tri Pointe Homes had a net margin of 10.28% and a return on equity of 14.03%. The company had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the prior year, the company posted $0.60 earnings per share. Tri Pointe Homes’s revenue for the quarter was up 38.3% compared to the same quarter last year. Equities analysts forecast that Tri Pointe Homes will post 4.66 earnings per share for the current year.

Insider Activity

In related news, CFO Glenn J. Keeler sold 24,200 shares of the business’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $46.16, for a total transaction of $1,117,072.00. Following the completion of the transaction, the chief financial officer now directly owns 149,108 shares of the company’s stock, valued at approximately $6,882,825.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Douglas F. Bauer sold 56,567 shares of Tri Pointe Homes stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $39.78, for a total transaction of $2,250,235.26. Following the completion of the sale, the chief executive officer now directly owns 677,816 shares of the company’s stock, valued at approximately $26,963,520.48. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Glenn J. Keeler sold 24,200 shares of the stock in a transaction on Monday, July 29th. The shares were sold at an average price of $46.16, for a total value of $1,117,072.00. Following the completion of the transaction, the chief financial officer now directly owns 149,108 shares in the company, valued at approximately $6,882,825.28. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Fidelis Capital Partners LLC acquired a new stake in shares of Tri Pointe Homes during the 1st quarter worth about $25,000. Gradient Investments LLC acquired a new position in shares of Tri Pointe Homes in the 2nd quarter valued at $30,000. Daiwa Securities Group Inc. purchased a new position in shares of Tri Pointe Homes in the 4th quarter valued at $35,000. Evermay Wealth Management LLC acquired a new stake in Tri Pointe Homes during the 4th quarter worth $35,000. Finally, GAMMA Investing LLC purchased a new stake in Tri Pointe Homes in the fourth quarter valued at $41,000. 97.01% of the stock is owned by institutional investors and hedge funds.

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.