Oppenheimer Increases Tri Pointe Homes (NYSE:TPH) Price Target to $46.00

Tri Pointe Homes (NYSE:TPH - Free Report) had its price objective raised by Oppenheimer from $41.00 to $46.00 in a research note published on Friday morning, Benzinga reports. The firm currently has an outperform rating on the construction company's stock.

TPH has been the subject of several other reports. Royal Bank of Canada increased their price target on shares of Tri Pointe Homes from $38.00 to $42.00 and gave the stock an outperform rating in a research note on Friday. Wedbush reiterated a neutral rating and issued a $35.00 price target on shares of Tri Pointe Homes in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Tri Pointe Homes has an average rating of Moderate Buy and a consensus price target of $40.60.

Tri Pointe Homes Trading Up 2.9 %

NYSE TPH traded up $1.05 during trading on Friday, hitting $37.87. The company had a trading volume of 946,940 shares, compared to its average volume of 1,063,499. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 0.46. Tri Pointe Homes has a one year low of $24.18 and a one year high of $39.08. The company has a market cap of $3.61 billion, a price-to-earnings ratio of 10.98, a price-to-earnings-growth ratio of 0.76 and a beta of 1.54. The company's fifty day moving average is $35.79 and its 200-day moving average is $32.94.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last issued its quarterly earnings data on Thursday, April 25th. The construction company reported $1.03 EPS for the quarter, topping the consensus estimate of $0.69 by $0.34. The business had revenue of $918.40 million during the quarter, compared to analyst estimates of $867.77 million. Tri Pointe Homes had a net margin of 9.37% and a return on equity of 11.75%. The company's revenue for the quarter was up 19.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.73 EPS. On average, sell-side analysts predict that Tri Pointe Homes will post 3.65 earnings per share for the current year.

Insider Buying and Selling at Tri Pointe Homes

In other Tri Pointe Homes news, COO Thomas J. Mitchell sold 51,533 shares of the firm's stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $35.22, for a total transaction of $1,814,992.26. Following the completion of the sale, the chief operating officer now directly owns 785,543 shares in the company, valued at approximately $27,666,824.46. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.00% of the stock is owned by company insiders.

Institutional Trading of Tri Pointe Homes

Institutional investors have recently made changes to their positions in the stock. Daiwa Securities Group Inc. purchased a new stake in shares of Tri Pointe Homes during the 4th quarter valued at about $35,000. Evermay Wealth Management LLC purchased a new stake in shares of Tri Pointe Homes during the 4th quarter valued at about $35,000. GAMMA Investing LLC purchased a new position in shares of Tri Pointe Homes in the fourth quarter worth approximately $41,000. Assetmark Inc. boosted its holdings in shares of Tri Pointe Homes by 29,825.0% in the fourth quarter. Assetmark Inc. now owns 1,197 shares of the construction company's stock worth $42,000 after buying an additional 1,193 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of Tri Pointe Homes by 105.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,362 shares of the construction company's stock worth $48,000 after buying an additional 700 shares during the last quarter. Hedge funds and other institutional investors own 97.01% of the company's stock.

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.