Oppenheimer Trims Tri Pointe Homes (NYSE:TPH) Target Price to $53.00

Tri Pointe Homes (NYSE:TPH) had its target price decreased by Oppenheimer from $56.00 to $53.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the construction company’s stock. Oppenheimer’s price objective points to a potential upside of 29.11% from the company’s current price.

Several other brokerages have also recently issued reports on TPH. Evercore ISI raised Tri Pointe Homes to a “strong-buy” rating in a research report on Friday, July 26th. Zelman & Associates raised Tri Pointe Homes from an “underperform” rating to a “neutral” rating and set a $43.00 target price on the stock in a research report on Tuesday, September 17th. Wedbush reissued a “neutral” rating and issued a $42.00 target price on shares of Tri Pointe Homes in a research report on Thursday. Finally, Royal Bank of Canada raised their target price on Tri Pointe Homes from $42.00 to $48.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Two investment 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 company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $46.50.

Tri Pointe Homes Stock Performance

Shares of Tri Pointe Homes stock traded up $0.32 during trading on Friday, hitting $41.05. 294,170 shares of the company’s stock traded hands, compared to its average volume of 900,872. 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. The stock has a market capitalization of $3.84 billion, a P/E ratio of 9.32, a PEG ratio of 0.70 and a beta of 1.59. The business has a 50-day simple moving average of $44.01 and a 200-day simple moving average of $40.81.

Tri Pointe Homes (NYSE:TPH) last released its quarterly earnings data on Thursday, October 24th. The construction company reported $1.18 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 company had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same period last year, the firm posted $0.76 earnings per share. Tri Pointe Homes’s revenue was up 34.9% compared to the same quarter last year. As a group, analysts forecast that Tri Pointe Homes will post 4.68 EPS for the current year.

Insider Activity at Tri Pointe Homes

In related news, CFO Glenn J. Keeler sold 24,200 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer now directly owns 149,108 shares in the company, valued at approximately $6,882,825.28. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing 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 that occurred on Friday, September 13th. The stock was sold at an average price of $44.28, for a total transaction of $221,400.00. Following the completion of the transaction, the general counsel now directly owns 85,792 shares in the company, valued at approximately $3,798,869.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Glenn J. Keeler sold 24,200 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $46.16, for a total value of $1,117,072.00. Following the completion of the transaction, the chief financial officer now directly owns 149,108 shares in the company, valued at approximately $6,882,825.28. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Cavalier Investments LLC lifted its holdings in Tri Pointe Homes by 6.5% in the 3rd quarter. Cavalier Investments LLC now owns 20,344 shares of the construction company’s stock worth $922,000 after purchasing an additional 1,242 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in Tri Pointe Homes in the 3rd quarter worth approximately $226,000. Highland Capital Management LLC purchased a new position in Tri Pointe Homes in the 3rd quarter worth approximately $248,000. Legacy Wealth Asset Management LLC purchased a new position in Tri Pointe Homes in the 3rd quarter worth approximately $217,000. Finally, Mount Yale Investment Advisors LLC purchased a new position in Tri Pointe Homes in the 3rd quarter worth approximately $270,000. 97.01% of the stock is owned by hedge funds and other 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.