Tri Pointe Homes (NYSE:TPH) Given New $56.00 Price Target at Oppenheimer

Tri Pointe Homes (NYSE:TPH) had its price target lifted by research analysts at Oppenheimer from $54.00 to $56.00 in a report issued on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the construction company’s stock. Oppenheimer’s target price suggests a potential upside of 24.83% from the stock’s previous close.

A number of other equities analysts also recently weighed in on TPH. Evercore ISI raised Tri Pointe Homes to a “strong-buy” rating in a research report on Friday, July 26th. Wedbush restated a “neutral” rating and set a $42.00 target price on shares of Tri Pointe Homes in a research note on Thursday, July 25th. Zelman & Associates upgraded 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 note on Tuesday, September 17th. Finally, Royal Bank of Canada increased their target price on Tri Pointe Homes from $42.00 to $48.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $47.25.

Tri Pointe Homes Stock Down 1.1 %

Shares of Tri Pointe Homes stock traded down $0.48 on Wednesday, reaching $44.86. 28,065 shares of the company were exchanged, compared to its average volume of 924,437. The company has a market capitalization of $4.20 billion, a price-to-earnings ratio of 11.91, a PEG ratio of 0.74 and a beta of 1.59. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30. Tri Pointe Homes has a one year low of $24.18 and a one year high of $47.78. The company has a 50-day moving average of $43.55 and a 200 day moving average of $39.99.

Tri Pointe Homes (NYSE:TPH) last announced its quarterly earnings results on Thursday, July 25th. The construction company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.16. The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Tri Pointe Homes had a net margin of 10.28% and a return on equity of 14.03%. The company’s revenue for the quarter was up 38.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.60 earnings per share. On average, equities research analysts forecast that Tri Pointe Homes will post 4.68 earnings per share for the current 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 that occurred on 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 completion of the sale, the chief financial officer now directly owns 149,108 shares in the company, valued at $6,882,825.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, General Counsel David Ch Lee sold 5,000 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $44.28, for a total value of $221,400.00. Following the completion of the transaction, the general counsel now owns 85,792 shares of the company’s stock, valued at $3,798,869.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Glenn J. Keeler sold 24,200 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $6,882,825.28. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Institutional Trading of Tri Pointe Homes

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Fidelis Capital Partners LLC bought a new position in Tri Pointe Homes in the first quarter valued at approximately $25,000. Gradient Investments LLC acquired a new stake in shares of Tri Pointe Homes in the 2nd quarter valued at $30,000. GAMMA Investing LLC boosted its holdings in shares of Tri Pointe Homes by 63.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,520 shares of the construction company’s stock valued at $57,000 after purchasing an additional 588 shares in the last quarter. Blue Trust Inc. boosted its stake in 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 buying an additional 427 shares in the last quarter. Finally, CWM LLC boosted its position in Tri Pointe Homes by 70.8% in the second quarter. CWM LLC now owns 2,220 shares of the construction company’s stock valued at $83,000 after buying an additional 920 shares in the last quarter. 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.