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

Tri Pointe Homes (NYSE:TPH) had its target price lifted by investment analysts at Oppenheimer from $41.00 to $46.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the construction company’s stock. Oppenheimer’s target price would suggest a potential upside of 21.85% from the stock’s current price.

A number of other research analysts have also recently weighed in on the company. Royal Bank of Canada lifted their price objective on Tri Pointe Homes from $38.00 to $42.00 and gave the company an “outperform” rating in a research report on Friday. Wedbush reiterated a “neutral” rating and issued a $35.00 target price on shares of Tri Pointe Homes in a report on Thursday. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Tri Pointe Homes currently has an average rating of “Moderate Buy” and an average target price of $40.60.

Tri Pointe Homes Stock Up 2.5 %

Shares of NYSE:TPH traded up $0.93 on Friday, hitting $37.75. 430,055 shares of the company traded hands, compared to its average volume of 1,057,247. Tri Pointe Homes has a 52 week low of $24.18 and a 52 week high of $39.08. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.46. The stock has a 50 day simple moving average of $35.73 and a 200-day simple moving average of $32.86. The company has a market cap of $3.60 billion, a PE ratio of 10.96, a PEG ratio of 0.76 and a beta of 1.54.

Tri Pointe Homes (NYSE:TPH) last released its quarterly earnings data on Thursday, April 25th. The construction company reported $1.03 EPS for the quarter, beating the consensus estimate of $0.69 by $0.34. The company had revenue of $918.40 million for the quarter, compared to analysts’ expectations of $867.77 million. Tri Pointe Homes had a return on equity of 11.75% and a net margin of 9.37%. Tri Pointe Homes’s revenue was up 19.5% compared to the same quarter last year. During the same period last year, the firm posted $0.73 earnings per share. As a group, research analysts expect that Tri Pointe Homes will post 3.65 earnings per share for the current year.

Insider Transactions at Tri Pointe Homes

In other news, COO Thomas J. Mitchell sold 51,533 shares of the business’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $35.22, for a total value of $1,814,992.26. Following the completion of the transaction, the chief operating officer now directly owns 785,543 shares of the company’s stock, valued at approximately $27,666,824.46. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. New York State Teachers Retirement System boosted its position in Tri Pointe Homes by 5.0% during the first quarter. New York State Teachers Retirement System now owns 64,040 shares of the construction company’s stock worth $2,476,000 after purchasing an additional 3,063 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Tri Pointe Homes by 51.4% in the first quarter. Assenagon Asset Management S.A. now owns 451,148 shares of the construction company’s stock valued at $17,441,000 after purchasing an additional 153,109 shares during the last quarter. New Mexico Educational Retirement Board acquired a new stake in Tri Pointe Homes during the first quarter worth $955,000. First Trust Direct Indexing L.P. purchased a new position in shares of Tri Pointe Homes during the first quarter worth $200,000. Finally, Oliver Luxxe Assets LLC boosted its holdings in Tri Pointe Homes by 1.2% in the first quarter. Oliver Luxxe Assets LLC now owns 29,399 shares of the construction company’s stock valued at $1,137,000 after purchasing an additional 354 shares during the period. 97.01% of the stock is owned by institutional investors and hedge funds.

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.