Tri Pointe Homes (NYSE:TPH) PT Lowered to $53.00

Tri Pointe Homes (NYSE:TPH) had its price target trimmed by Oppenheimer from $56.00 to $53.00 in a report issued on Friday, Benzinga reports. The firm currently has an outperform rating on the construction company’s stock.

TPH has been the topic of several other reports. Evercore ISI upgraded shares of Tri Pointe Homes to a “strong-buy” rating in a research note on Friday, July 26th. 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. Royal Bank of Canada upped their price objective on shares of Tri Pointe Homes from $42.00 to $48.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Finally, Wedbush reaffirmed a “neutral” rating and set a $42.00 price objective on shares of Tri Pointe Homes in a report on Thursday, October 24th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $45.75.

Tri Pointe Homes Stock Performance

Shares of Tri Pointe Homes stock opened at $41.44 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.64 and a current ratio of 1.64. The business has a 50-day simple moving average of $43.96 and a 200-day simple moving average of $40.93. The company has a market cap of $3.88 billion, a PE ratio of 8.60, a P/E/G ratio of 0.66 and a beta of 1.59. Tri Pointe Homes has a one year low of $24.46 and a one year high of $47.78.

Tri Pointe Homes (NYSE:TPH) last announced its quarterly earnings results on Thursday, October 24th. The construction company reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.11. Tri Pointe Homes had a return on equity of 14.83% and a net margin of 10.41%. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the previous year, the business earned $0.76 EPS. Tri Pointe Homes’s revenue for the quarter was up 34.9% on a year-over-year basis. On average, equities research analysts forecast that Tri Pointe Homes will post 4.68 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, General Counsel David Ch Lee sold 5,000 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $44.28, for a total value of $221,400.00. Following the completion of the sale, the general counsel now directly owns 85,792 shares of the company’s stock, valued at approximately $3,798,869.76. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.50% of the stock is currently owned by insiders.

Institutional Trading of Tri Pointe Homes

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. increased its holdings 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 valued at $262,000 after purchasing an additional 3,588 shares during the period. Oliver Luxxe Assets LLC increased its stake in Tri Pointe Homes by 1.2% in the 1st quarter. Oliver Luxxe Assets LLC now owns 29,399 shares of the construction company’s stock valued at $1,137,000 after buying an additional 354 shares during the period. First Trust Direct Indexing L.P. purchased a new position in Tri Pointe Homes during the 1st quarter worth $200,000. BNP Paribas Financial Markets lifted its stake in shares of Tri Pointe Homes by 132.8% in the 1st quarter. BNP Paribas Financial Markets now owns 122,337 shares of the construction company’s stock worth $4,730,000 after acquiring an additional 69,789 shares during the period. Finally, Capstone Investment Advisors LLC boosted its holdings in shares of Tri Pointe Homes by 10.9% in the first quarter. Capstone Investment Advisors LLC now owns 15,786 shares of the construction company’s stock valued at $610,000 after acquiring 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.