Analysts Set Tri Pointe Homes, Inc. (NYSE:TPH) Target Price at $47.25

Tri Pointe Homes, Inc. (NYSE:TPH) has received an average rating of “Moderate Buy” from the five brokerages that are presently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $47.25.

Several research firms have commented on TPH. Royal Bank of Canada raised their target price on shares of Tri Pointe Homes from $42.00 to $48.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Wedbush reiterated a “neutral” rating and issued a $42.00 target price on shares of Tri Pointe Homes in a research report on Thursday, July 25th. Evercore ISI raised Tri Pointe Homes to a “strong-buy” rating in a research note on Friday, July 26th. Oppenheimer raised their price target on shares of Tri Pointe Homes from $54.00 to $56.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Finally, Zelman & Associates raised 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 report on Tuesday, September 17th.

Tri Pointe Homes Trading Down 4.8 %

Tri Pointe Homes stock opened at $44.26 on Thursday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29. The stock has a market capitalization of $4.14 billion, a P/E ratio of 10.06, a PEG ratio of 0.76 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 stock has a 50-day simple moving average of $43.94 and a 200 day simple moving average of $40.76.

Tri Pointe Homes (NYSE:TPH) last announced its earnings results on Thursday, July 25th. The construction company reported $1.25 EPS for the quarter, topping the consensus estimate of $1.09 by $0.16. The company had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.07 billion. Tri Pointe Homes had a net margin of 10.28% and a return on equity of 14.03%. The business’s revenue for the quarter was up 38.3% on a year-over-year basis. During the same period last year, the firm earned $0.60 earnings per share. Analysts expect that Tri Pointe Homes will post 4.68 earnings per share for the current year.

Insiders Place Their Bets

In related news, General Counsel David Ch Lee sold 5,000 shares of the business’s stock in a transaction on Friday, September 13th. The shares were 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 of the company’s stock, valued at $3,798,869.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Glenn J. Keeler sold 24,200 shares of the firm’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 sale, the chief financial officer now owns 149,108 shares of the company’s stock, valued at $6,882,825.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 transaction, the general counsel now directly owns 85,792 shares in the company, valued at approximately $3,798,869.76. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Millennium Management LLC boosted its holdings in shares of Tri Pointe Homes by 14.1% in the 2nd quarter. Millennium Management LLC now owns 925,498 shares of the construction company’s stock worth $34,475,000 after buying an additional 114,244 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Tri Pointe Homes by 3.5% in the second quarter. Bank of New York Mellon Corp now owns 916,372 shares of the construction company’s stock valued at $34,135,000 after acquiring an additional 31,041 shares during the last quarter. Cubist Systematic Strategies LLC grew its position 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 valued at $19,907,000 after acquiring an additional 320,221 shares during the period. Principal Financial Group Inc. increased its stake in shares of Tri Pointe Homes by 0.4% during the 1st quarter. Principal Financial Group Inc. now owns 530,036 shares of the construction company’s stock worth $20,491,000 after purchasing an additional 2,211 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position 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 valued at $16,529,000 after buying 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.