Tri Pointe Homes (NYSE:TPH) PT Lowered to $45.00 at Royal Bank of Canada

Tri Pointe Homes (NYSE:TPH) had its target price trimmed by Royal Bank of Canada from $48.00 to $45.00 in a research report released on Friday morning, Benzinga reports. The brokerage currently has an outperform rating on the construction company’s stock.

Several other research firms have also recently commented on TPH. Zelman & Associates raised shares of Tri Pointe Homes from an “underperform” rating to a “neutral” rating and set a $43.00 target price for the company in a research report on Tuesday, September 17th. Evercore ISI upgraded shares of Tri Pointe Homes to a “strong-buy” rating in a report on Friday, July 26th. Oppenheimer reduced their target price on Tri Pointe Homes from $56.00 to $53.00 and set an “outperform” rating on the stock in a report on Friday. Finally, Wedbush restated a “neutral” rating and issued a $42.00 target price on shares of Tri Pointe Homes in a research note on Thursday. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Tri Pointe Homes presently has an average rating of “Moderate Buy” and a consensus target price of $45.75.

Tri Pointe Homes Stock Down 1.1 %

Shares of NYSE:TPH opened at $40.28 on Friday. The stock’s 50-day moving average is $43.98 and its 200 day moving average is $40.86. The company has a market cap of $3.82 billion, a PE ratio of 10.74, a P/E/G ratio of 0.70 and a beta of 1.59. 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 1 year low of $24.18 and a 1 year high of $47.78.

Tri Pointe Homes (NYSE:TPH) last posted its earnings results on Thursday, October 24th. The construction company reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 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 $1.11 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the previous year, the firm earned $0.76 earnings per share. The business’s revenue was up 34.9% compared to the same quarter last year. Sell-side analysts anticipate that Tri Pointe Homes will post 4.68 EPS for the current year.

Insider Buying and Selling at Tri Pointe Homes

In related news, General Counsel David Ch Lee sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was 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 in the company, valued at $3,798,869.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 2.00% of the company’s stock.

Institutional Trading of Tri Pointe Homes

Several institutional investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. lifted its stake in shares of Tri Pointe Homes by 94.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,407 shares of the construction company’s stock worth $262,000 after buying an additional 3,588 shares in the last quarter. Oliver Luxxe Assets LLC boosted its stake in Tri Pointe Homes by 1.2% during the 1st 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 last quarter. First Trust Direct Indexing L.P. bought a new stake in shares of Tri Pointe Homes in the 1st quarter worth $200,000. BNP Paribas Financial Markets raised its stake in shares of Tri Pointe Homes by 132.8% in the first quarter. BNP Paribas Financial Markets now owns 122,337 shares of the construction company’s stock worth $4,730,000 after purchasing an additional 69,789 shares during the last quarter. Finally, Capstone Investment Advisors LLC lifted its holdings in shares of Tri Pointe Homes by 10.9% during the first quarter. Capstone Investment Advisors LLC now owns 15,786 shares of the construction company’s stock valued at $610,000 after purchasing an additional 1,548 shares in the last quarter. 97.01% of the stock is owned by hedge funds and other institutional investors.

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.