Royal Bank of Canada Raises Tri Pointe Homes (NYSE:TPH) Price Target to $48.00

Tri Pointe Homes (NYSE:TPH) had its target price upped by Royal Bank of Canada from $42.00 to $48.00 in a report released on Friday, Benzinga reports. The firm currently has an outperform rating on the construction company’s stock.

A number of other research firms have also recently weighed in on TPH. Oppenheimer lifted their target price on shares of Tri Pointe Homes from $41.00 to $46.00 and gave the company an outperform rating in a research note on Friday, April 26th. StockNews.com raised Tri Pointe Homes from a hold rating to a buy rating in a research note on Friday, April 26th. Finally, Wedbush reissued a neutral rating and set a $42.00 target price on shares of Tri Pointe Homes in a research note on Thursday, July 25th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $45.50.

Tri Pointe Homes Stock Performance

NYSE:TPH opened at $46.04 on Friday. 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 50-day simple moving average of $39.27 and a two-hundred day simple moving average of $37.23. The firm has a market capitalization of $4.31 billion, a PE ratio of 12.28, a P/E/G 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.

Tri Pointe Homes (NYSE:TPH) last released its earnings results on Thursday, July 25th. The construction company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.16. Tri Pointe Homes had a net margin of 10.28% and a return on equity of 14.03%. The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same period in the prior year, the firm posted $0.60 EPS. The firm’s quarterly revenue was up 38.3% compared to the same quarter last year. Analysts forecast that Tri Pointe Homes will post 4.66 EPS for the current year.

Insider Activity

In related news, CEO Douglas F. Bauer sold 56,567 shares of the business’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $39.78, for a total value of $2,250,235.26. Following the sale, the chief executive officer now directly owns 677,816 shares in the company, valued at $26,963,520.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Tri Pointe Homes news, CFO Glenn J. Keeler sold 24,200 shares of Tri Pointe Homes stock in a transaction on Monday, July 29th. The shares were 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 of the company’s stock, valued at approximately $6,882,825.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Douglas F. Bauer sold 56,567 shares of the business’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $39.78, for a total transaction of $2,250,235.26. Following the completion of the sale, the chief executive officer now owns 677,816 shares in the company, valued at $26,963,520.48. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in TPH. Charles Schwab Investment Management Inc. lifted its stake in shares of Tri Pointe Homes by 2.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,013,767 shares of the construction company’s stock valued at $35,887,000 after purchasing an additional 27,260 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in 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 valued at $34,135,000 after buying an additional 31,041 shares during the period. GW&K Investment Management LLC purchased a new position in Tri Pointe Homes during the fourth quarter worth $24,389,000. Norges Bank purchased a new position in Tri Pointe Homes during the fourth quarter worth $22,862,000. Finally, Principal Financial Group Inc. increased its position in Tri Pointe Homes by 0.4% during the first quarter. Principal Financial Group Inc. now owns 530,036 shares of the construction company’s stock valued at $20,491,000 after acquiring an additional 2,211 shares during the last quarter. Hedge funds and other 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.