Tri Pointe Homes (NYSE:TPH) PT Raised to $48.00

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

TPH has been the subject of several other reports. Oppenheimer boosted their price target on Tri Pointe Homes from $41.00 to $46.00 and gave the stock an outperform rating in a research report on Friday, April 26th. StockNews.com raised shares of Tri Pointe Homes from a hold rating to a buy rating in a report on Friday, April 26th. Finally, Wedbush reissued a neutral rating and issued a $42.00 price target on shares of Tri Pointe Homes in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $45.50.

Tri Pointe Homes Stock Down 0.2 %

TPH stock opened at $46.04 on Friday. Tri Pointe Homes has a 52 week low of $24.18 and a 52 week high of $47.78. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30. The firm has a 50-day simple moving average of $39.27 and a 200-day simple moving average of $37.23. The stock has a market capitalization of $4.31 billion, a P/E ratio of 12.28, a P/E/G ratio of 0.76 and a beta of 1.59.

Tri Pointe Homes (NYSE:TPH) last posted its quarterly earnings data 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 return on equity of 14.03% and a net margin of 10.28%. The company had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the previous year, the firm posted $0.60 EPS. Tri Pointe Homes’s revenue was up 38.3% compared to the same quarter last year. Equities analysts forecast that Tri Pointe Homes will post 4.66 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Tri Pointe Homes

A number of hedge funds have recently modified their holdings of TPH. Innealta Capital LLC acquired a new position in Tri Pointe Homes in the second quarter valued at about $146,000. Panagora Asset Management Inc. lifted its holdings in shares of Tri Pointe Homes by 5.4% in the 2nd quarter. Panagora Asset Management Inc. now owns 269,398 shares of the construction company’s stock worth $10,035,000 after acquiring an additional 13,693 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Tri Pointe Homes by 10.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,535 shares of the construction company’s stock worth $951,000 after acquiring an additional 2,355 shares during the last quarter. Bank of New York Mellon Corp boosted its position 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 period. Finally, Summit Global Investments increased its holdings in Tri Pointe Homes by 3.1% in the 2nd quarter. Summit Global Investments now owns 37,579 shares of the construction company’s stock valued at $1,400,000 after purchasing an additional 1,131 shares during the last quarter. 97.01% of the stock is currently owned by hedge funds and other institutional investors.

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.