Oppenheimer Increases Tri Pointe Homes (NYSE:TPH) Price Target to $56.00

Tri Pointe Homes (NYSE:TPH) had its price objective increased by equities researchers at Oppenheimer from $54.00 to $56.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the construction company’s stock. Oppenheimer’s price objective would suggest a potential upside of 24.94% from the company’s current price.

TPH has been the topic of a number of other research reports. Evercore ISI upgraded Tri Pointe Homes to a “strong-buy” rating in a research report on Friday, July 26th. Royal Bank of Canada upped their price objective on shares of Tri Pointe Homes from $42.00 to $48.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Wedbush restated a “neutral” rating and issued a $42.00 target price on shares of Tri Pointe Homes in a research report on Thursday, July 25th. Finally, Zelman & Associates raised Tri Pointe Homes from an “underperform” rating to a “neutral” rating and set a $43.00 price objective on the stock in a report on Tuesday, September 17th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.25.

Tri Pointe Homes Stock Performance

Shares of Tri Pointe Homes stock opened at $44.82 on Wednesday. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30. The company has a market cap of $4.19 billion, a PE ratio of 11.95, a price-to-earnings-growth ratio of 0.74 and a beta of 1.59. The company has a 50 day moving average of $43.53 and a 200-day moving average of $40.06. Tri Pointe Homes has a 1-year low of $24.18 and a 1-year high of $47.78.

Tri Pointe Homes (NYSE:TPH) last released its earnings results on Thursday, July 25th. The construction company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.16. Tri Pointe Homes had a return on equity of 14.03% and a net margin of 10.28%. The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the prior year, the company earned $0.60 earnings per share. The company’s quarterly revenue was up 38.3% on a year-over-year basis. As a group, equities research analysts forecast that Tri Pointe Homes will post 4.68 earnings per share for the current fiscal year.

Insider Activity at Tri Pointe Homes

In other Tri Pointe Homes news, CFO Glenn J. Keeler sold 24,200 shares of Tri Pointe Homes stock in a transaction dated 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 transaction, the chief financial officer now directly owns 149,108 shares of the company’s stock, valued at approximately $6,882,825.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, General Counsel David Ch Lee sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $44.28, for a total value of $221,400.00. Following the sale, the general counsel now directly owns 85,792 shares in the company, valued at $3,798,869.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Glenn J. Keeler sold 24,200 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $46.16, for a total transaction of $1,117,072.00. Following the sale, the chief financial officer now directly owns 149,108 shares of the company’s stock, valued at approximately $6,882,825.28. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tri Pointe Homes

A number of institutional investors have recently modified their holdings of TPH. BNP Paribas Financial Markets lifted its holdings in Tri Pointe Homes by 132.8% in the first quarter. BNP Paribas Financial Markets now owns 122,337 shares of the construction company’s stock valued at $4,730,000 after buying an additional 69,789 shares during the period. UniSuper Management Pty Ltd bought a new position in shares of Tri Pointe Homes in the 1st quarter worth about $834,000. State Board of Administration of Florida Retirement System lifted its stake in shares of Tri Pointe Homes by 64.7% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 83,261 shares of the construction company’s stock valued at $3,219,000 after purchasing an additional 32,717 shares during the period. SG Americas Securities LLC boosted its position in shares of Tri Pointe Homes by 3,110.4% during the 2nd quarter. SG Americas Securities LLC now owns 107,710 shares of the construction company’s stock valued at $4,012,000 after purchasing an additional 104,355 shares in the last quarter. Finally, Forge First Asset Management Inc. acquired a new stake in Tri Pointe Homes during the first quarter worth approximately $3,156,000. 97.01% of the stock is owned by institutional investors.

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.