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

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

Several other equities analysts have also recently weighed in on the company. Zelman & Associates upgraded Tri Pointe Homes from an underperform rating to a neutral rating and set a $43.00 price objective on the stock in a research note on Tuesday, September 17th. Wedbush reissued a neutral rating and set a $42.00 price target on shares of Tri Pointe Homes in a research report on Thursday, July 25th. Evercore ISI raised shares of Tri Pointe Homes to a strong-buy rating in a research report on Friday, July 26th. Finally, Royal Bank of Canada lifted their target price 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. Two investment 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’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $47.25.

Tri Pointe Homes Trading Down 2.3 %

NYSE:TPH opened at $43.82 on Wednesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. Tri Pointe Homes has a one year low of $24.18 and a one year high of $47.78. The company has a market cap of $4.10 billion, a PE ratio of 11.69, a PEG ratio of 0.74 and a beta of 1.59. The firm has a 50-day moving average of $43.48 and a 200-day moving average of $40.16.

Tri Pointe Homes (NYSE:TPH) last issued its quarterly earnings data on Thursday, July 25th. The construction company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $1.07 billion. During the same period in the previous year, the company posted $0.60 EPS. The company’s revenue for the quarter was up 38.3% on a year-over-year basis. As a group, equities research analysts expect that Tri Pointe Homes will post 4.68 EPS for the current fiscal year.

Insider Activity at Tri Pointe Homes

In other Tri Pointe Homes news, General Counsel David Ch Lee sold 5,000 shares of Tri Pointe Homes stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $44.28, for a total value of $221,400.00. Following the sale, the general counsel now owns 85,792 shares of the company’s stock, valued at approximately $3,798,869.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related 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 value of $1,117,072.00. Following the completion of the sale, the chief financial officer now owns 149,108 shares of the company’s stock, valued at approximately $6,882,825.28. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed 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 value of $221,400.00. Following the completion of the sale, the general counsel now owns 85,792 shares in the company, valued at $3,798,869.76. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tri Pointe Homes

Large investors have recently modified their holdings of the business. BNP Paribas Financial Markets boosted its holdings in Tri Pointe Homes by 132.8% in the 1st quarter. BNP Paribas Financial Markets now owns 122,337 shares of the construction company’s stock worth $4,730,000 after buying an additional 69,789 shares during the period. UniSuper Management Pty Ltd purchased a new stake in shares of Tri Pointe Homes during the first quarter worth $834,000. State Board of Administration of Florida Retirement System boosted its holdings in shares of Tri Pointe Homes by 64.7% in the first quarter. State Board of Administration of Florida Retirement System now owns 83,261 shares of the construction company’s stock worth $3,219,000 after acquiring an additional 32,717 shares during the period. SG Americas Securities LLC grew its position in shares of Tri Pointe Homes by 3,110.4% in the second 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. bought a new stake in shares of Tri Pointe Homes during the 1st quarter valued at $3,156,000. 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.