Royal Bank of Canada Trims Tri Pointe Homes (NYSE:TPH) Target Price to $45.00

Tri Pointe Homes (NYSE:TPH) had its price target cut by Royal Bank of Canada from $48.00 to $45.00 in a research note published on Friday, Benzinga reports. They currently have an outperform rating on the construction company’s stock.

Other analysts also recently issued research reports about the stock. Evercore ISI raised shares of Tri Pointe Homes to a “strong-buy” rating in a research report on Friday, July 26th. Zelman & Associates raised shares of Tri Pointe Homes from an “underperform” rating to a “neutral” rating and set a $43.00 price target for the company in a report on Tuesday, September 17th. Oppenheimer lowered their target price on Tri Pointe Homes from $56.00 to $53.00 and set an “outperform” rating for the company in a research note on Friday. Finally, Wedbush reiterated a “neutral” rating and issued a $42.00 price target on shares of Tri Pointe Homes in a research note on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $45.75.

Tri Pointe Homes Stock Performance

Shares of TPH stock opened at $41.44 on Friday. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.28. The company has a market cap of $3.88 billion, a PE ratio of 8.60, a P/E/G ratio of 0.66 and a beta of 1.59. The company’s fifty day simple moving average is $43.96 and its 200-day simple moving average is $40.93. Tri Pointe Homes has a 52 week low of $24.46 and a 52 week high of $47.78.

Tri Pointe Homes (NYSE:TPH) last released its quarterly earnings data on Thursday, October 24th. The construction company reported $1.18 EPS for the quarter, beating the consensus estimate of $1.07 by $0.11. Tri Pointe Homes had a return on equity of 14.83% and a net margin of 10.41%. The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same period last year, the company posted $0.76 earnings per share. The firm’s revenue was up 34.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Tri Pointe Homes will post 4.68 EPS for the current year.

Insiders Place Their Bets

In other news, General Counsel David Ch Lee sold 5,000 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $3,798,869.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tri Pointe Homes

Institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. boosted its holdings in Tri Pointe Homes by 94.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,407 shares of the construction company’s stock worth $262,000 after purchasing an additional 3,588 shares during the period. Oliver Luxxe Assets LLC lifted its position in shares of Tri Pointe Homes by 1.2% in the 1st quarter. Oliver Luxxe Assets LLC now owns 29,399 shares of the construction company’s stock worth $1,137,000 after buying an additional 354 shares during the last quarter. First Trust Direct Indexing L.P. acquired a new position in shares of Tri Pointe Homes in the 1st quarter valued at about $200,000. BNP Paribas Financial Markets grew its position in shares of Tri Pointe Homes by 132.8% during the 1st quarter. BNP Paribas Financial Markets now owns 122,337 shares of the construction company’s stock valued at $4,730,000 after buying an additional 69,789 shares during the last quarter. Finally, Capstone Investment Advisors LLC raised its stake in Tri Pointe Homes by 10.9% during the first quarter. Capstone Investment Advisors LLC now owns 15,786 shares of the construction company’s stock worth $610,000 after acquiring an additional 1,548 shares during the period. 97.01% of the stock is currently owned by institutional investors.

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.