Tri Pointe Homes (NYSE:TPH) Price Target Increased to $56.00 by Analysts at Oppenheimer

Tri Pointe Homes (NYSE:TPH) had its price objective raised by Oppenheimer from $54.00 to $56.00 in a report issued on Wednesday morning, Benzinga reports. The firm currently has an outperform rating on the construction company’s stock.

Other analysts have also issued reports about the company. Wedbush reissued a neutral rating and set a $42.00 price objective on shares of Tri Pointe Homes in a report on Thursday, July 25th. Evercore ISI upgraded Tri Pointe Homes to a strong-buy rating in a report on Friday, July 26th. Royal Bank of Canada raised their price objective on Tri Pointe Homes from $42.00 to $48.00 and gave the company an outperform rating in a research note on Friday, July 26th. Finally, Zelman & Associates raised shares of Tri Pointe Homes from an underperform rating to a neutral rating and set a $43.00 price target on the stock in a research report on Tuesday, September 17th. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $47.25.

Tri Pointe Homes Price Performance

Shares of NYSE:TPH opened at $44.91 on Wednesday. Tri Pointe Homes has a twelve month low of $24.18 and a twelve month high of $47.78. The stock’s 50 day moving average is $43.54 and its 200-day moving average is $40.03. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $4.20 billion, a price-to-earnings ratio of 11.98, a PEG ratio of 0.74 and a beta of 1.59.

Tri Pointe Homes (NYSE:TPH) last released its quarterly earnings data on Thursday, July 25th. The construction company reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.16. The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.07 billion. Tri Pointe Homes had a net margin of 10.28% and a return on equity of 14.03%. The business’s quarterly revenue was up 38.3% compared to the same quarter last year. During the same period last year, the firm earned $0.60 earnings per share. Sell-side analysts forecast that Tri Pointe Homes will post 4.68 EPS for the current fiscal year.

Insider Buying and Selling at Tri Pointe Homes

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

Institutional Trading of Tri Pointe Homes

Hedge funds have recently made changes to their positions in the company. Oliver Luxxe Assets LLC increased its holdings in Tri Pointe Homes by 1.2% in 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 during the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its position in shares of Tri Pointe Homes by 1.5% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 25,094 shares of the construction company’s stock valued at $959,000 after purchasing an additional 376 shares during the period. Blue Trust Inc. raised its position in shares of Tri Pointe Homes by 31.7% in the second quarter. Blue Trust Inc. now owns 1,774 shares of the construction company’s stock valued at $69,000 after purchasing an additional 427 shares during the period. Evergreen Capital Management LLC lifted its stake in shares of Tri Pointe Homes by 7.1% during the 2nd quarter. Evergreen Capital Management LLC now owns 7,863 shares of the construction company’s stock valued at $293,000 after buying an additional 519 shares in the last quarter. Finally, Diversified Trust Co boosted its holdings in Tri Pointe Homes by 4.2% in the 2nd quarter. Diversified Trust Co now owns 13,308 shares of the construction company’s stock worth $496,000 after buying an additional 536 shares during the period. 97.01% of the stock is currently owned by institutional investors.

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.