Oppenheimer Lowers Tri Pointe Homes (NYSE:TPH) Price Target to $43.00

Tri Pointe Homes (NYSE:TPH) had its price target lowered by stock analysts at Oppenheimer from $53.00 to $43.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the construction company’s stock. Oppenheimer’s price target suggests a potential upside of 37.47% from the company’s current price.

Other analysts have also issued research reports about the stock. StockNews.com lowered shares of Tri Pointe Homes from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Wedbush reissued a “neutral” rating and issued a $38.00 target price (down previously from $44.00) on shares of Tri Pointe Homes in a research report on Tuesday. Evercore ISI reduced their price target on shares of Tri Pointe Homes from $54.00 to $42.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, Royal Bank of Canada downgraded Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $41.00 to $37.00 in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Tri Pointe Homes currently has a consensus rating of “Hold” and a consensus price target of $40.60.

Tri Pointe Homes Stock Up 1.3 %

Shares of Tri Pointe Homes stock opened at $31.28 on Wednesday. Tri Pointe Homes has a 1-year low of $30.25 and a 1-year high of $47.78. The company has a market capitalization of $2.93 billion, a PE ratio of 6.48, a P/E/G ratio of 0.52 and a beta of 1.64. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.64 and a quick ratio of 1.64. The business has a 50-day moving average of $36.50 and a 200-day moving average of $40.70.

Tri Pointe Homes (NYSE:TPH) last issued its quarterly earnings data on Tuesday, February 18th. The construction company reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.07. Tri Pointe Homes had a return on equity of 14.56% and a net margin of 10.36%. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.22 billion. As a group, equities analysts forecast that Tri Pointe Homes will post 4.8 EPS for the current fiscal year.

Tri Pointe Homes declared that its board has initiated a share buyback program on Wednesday, December 18th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the construction company to repurchase up to 7.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Insider Activity

In other news, COO Thomas J. Mitchell sold 77,384 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $39.15, for a total transaction of $3,029,583.60. Following the sale, the chief operating officer now directly owns 708,159 shares in the company, valued at approximately $27,724,424.85. This represents a 9.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in TPH. Vanguard Group Inc. lifted its stake in Tri Pointe Homes by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 11,573,813 shares of the construction company’s stock valued at $419,666,000 after buying an additional 143,365 shares during the last quarter. Pacer Advisors Inc. acquired a new stake in shares of Tri Pointe Homes in the 4th quarter worth about $118,407,000. Geode Capital Management LLC increased its holdings in shares of Tri Pointe Homes by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 2,529,823 shares of the construction company’s stock worth $91,748,000 after acquiring an additional 44,160 shares during the period. GW&K Investment Management LLC lifted its position in Tri Pointe Homes by 5.3% in the 4th quarter. GW&K Investment Management LLC now owns 2,036,689 shares of the construction company’s stock valued at $73,850,000 after purchasing an additional 102,187 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in Tri Pointe Homes by 14.0% during the 4th quarter. American Century Companies Inc. now owns 1,946,471 shares of the construction company’s stock valued at $70,579,000 after purchasing an additional 238,807 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.