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

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

TPH has been the topic of several other research reports. Evercore ISI upgraded Tri Pointe Homes to a “strong-buy” rating in a report on Friday, July 26th. Zelman & Associates upgraded Tri Pointe Homes from an “underperform” rating to a “neutral” rating and set a $43.00 price target on the stock in a report on Tuesday, September 17th. Royal Bank of Canada increased their price target on Tri Pointe Homes from $42.00 to $48.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $42.00 price objective on shares of Tri Pointe Homes in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Tri Pointe Homes currently has an average rating of “Moderate Buy” and an average target price of $46.50.

Tri Pointe Homes Price Performance

Shares of TPH traded up $0.32 during mid-day trading on Friday, hitting $41.05. 294,170 shares of the stock were exchanged, compared to its average volume of 900,872. The company has a market cap of $3.84 billion, a PE ratio of 9.32, a price-to-earnings-growth ratio of 0.70 and a beta of 1.59. Tri Pointe Homes has a 52-week low of $24.18 and a 52-week high of $47.78. The firm has a 50-day moving average of $44.01 and a two-hundred day moving average of $40.81. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29.

Tri Pointe Homes (NYSE:TPH) last released its quarterly earnings results on Thursday, October 24th. The construction company reported $1.18 earnings per share 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 analyst estimates of $1.05 billion. During the same quarter in the prior year, the firm posted $0.76 EPS. Tri Pointe Homes’s quarterly revenue was up 34.9% compared to the same quarter last year. On average, equities analysts predict 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 Tri Pointe Homes news, CFO Glenn J. Keeler sold 24,200 shares of the company’s stock in a transaction 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 transaction, the chief financial officer now owns 149,108 shares of the company’s stock, valued at $6,882,825.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, General Counsel David Ch Lee sold 5,000 shares of the stock in a transaction 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 transaction, the general counsel now owns 85,792 shares of the company’s stock, valued at approximately $3,798,869.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Glenn J. Keeler sold 24,200 shares of the stock in a transaction 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 transaction, the chief financial officer now directly owns 149,108 shares in the company, valued at $6,882,825.28. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tri Pointe Homes

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Assenagon Asset Management S.A. grew its position in shares of Tri Pointe Homes by 260.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,417,263 shares of the construction company’s stock worth $64,216,000 after buying an additional 1,024,425 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Tri Pointe Homes by 14.1% during the 2nd quarter. Millennium Management LLC now owns 925,498 shares of the construction company’s stock worth $34,475,000 after purchasing an additional 114,244 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Tri Pointe Homes by 3.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 916,372 shares of the construction company’s stock worth $34,135,000 after purchasing an additional 31,041 shares during the last quarter. Cubist Systematic Strategies LLC lifted its stake in shares of Tri Pointe Homes by 149.5% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 534,406 shares of the construction company’s stock worth $19,907,000 after purchasing an additional 320,221 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of Tri Pointe Homes by 1,417.8% during the 2nd quarter. Renaissance Technologies LLC now owns 443,736 shares of the construction company’s stock worth $16,529,000 after purchasing an additional 414,500 shares during 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.