Tri Pointe Homes (NYSE:TPH) PT Raised to $42.00

Tri Pointe Homes (NYSE:TPH) had its target price boosted by Royal Bank of Canada from $38.00 to $42.00 in a research report report published on Friday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the construction company’s stock.

Other research analysts have also recently issued reports about the company. Wedbush restated a neutral rating and set a $35.00 target price on shares of Tri Pointe Homes in a report on Thursday. Oppenheimer restated an outperform rating and set a $41.00 target price (up from $36.00) on shares of Tri Pointe Homes in a report on Wednesday, February 21st. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $40.60.

Tri Pointe Homes Price Performance

NYSE:TPH opened at $37.87 on Friday. 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 1.99 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $3.61 billion, a PE ratio of 10.10, a price-to-earnings-growth ratio of 0.77 and a beta of 1.54. The stock’s 50-day moving average price is $35.79 and its 200-day moving average price is $32.94.

Tri Pointe Homes (NYSE:TPH) last posted its quarterly earnings data on Thursday, April 25th. The construction company reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.34. Tri Pointe Homes had a return on equity of 12.39% and a net margin of 9.62%. The company had revenue of $918.40 million for the quarter, compared to analysts’ expectations of $867.77 million. During the same period in the previous year, the firm posted $0.73 EPS. Tri Pointe Homes’s revenue was up 19.5% compared to the same quarter last year. As a group, equities analysts expect that Tri Pointe Homes will post 3.65 EPS for the current fiscal year.

Insider Transactions at Tri Pointe Homes

In other news, COO Thomas J. Mitchell sold 51,533 shares of Tri Pointe Homes stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $35.22, for a total transaction of $1,814,992.26. Following the sale, the chief operating officer now 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 can be accessed through this link. Insiders own 2.00% of the company’s stock.

Institutional Trading of Tri Pointe Homes

Institutional investors have recently made changes to their positions in the company. Invesco Ltd. raised its position in shares of Tri Pointe Homes by 15.1% during the 3rd quarter. Invesco Ltd. now owns 1,042,993 shares of the construction company’s stock valued at $28,526,000 after buying an additional 137,175 shares during the period. TD Asset Management Inc raised its position in shares of Tri Pointe Homes by 73.3% during the 3rd quarter. TD Asset Management Inc now owns 80,400 shares of the construction company’s stock valued at $2,199,000 after buying an additional 34,000 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of Tri Pointe Homes by 30.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 6,728 shares of the construction company’s stock valued at $184,000 after buying an additional 1,569 shares during the period. Assenagon Asset Management S.A. raised its position in shares of Tri Pointe Homes by 26.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 727,045 shares of the construction company’s stock valued at $19,885,000 after buying an additional 153,994 shares during the period. Finally, Richard Bernstein Advisors LLC purchased a new stake in shares of Tri Pointe Homes during the 3rd quarter valued at approximately $4,886,000. 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.