Tri Pointe Homes (NYSE:TPH) PT Raised to $42.00 at Royal Bank of Canada

Tri Pointe Homes (NYSE:TPH) had its price target hoisted by Royal Bank of Canada from $38.00 to $42.00 in a research note published on Friday, Benzinga reports. They currently have an outperform rating on the construction company’s stock.

TPH has been the subject of a number of other reports. Wedbush reaffirmed a neutral rating and set a $35.00 price objective on shares of Tri Pointe Homes in a report on Thursday, April 25th. Oppenheimer reiterated an outperform rating and issued a $41.00 target price (up previously from $36.00) on shares of Tri Pointe Homes in a research report on Wednesday, February 21st. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $40.60.

Tri Pointe Homes Stock Performance

NYSE TPH opened at $37.75 on Friday. Tri Pointe Homes has a 52-week low of $24.18 and a 52-week high of $39.08. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.99 and a current ratio of 1.99. The company has a market capitalization of $3.58 billion, a P/E ratio of 10.07, a P/E/G ratio of 0.80 and a beta of 1.54. The company has a fifty day moving average of $35.85 and a 200-day moving average of $33.09.

Tri Pointe Homes (NYSE:TPH) last posted its quarterly earnings data on Thursday, April 25th. The construction company reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.34. Tri Pointe Homes had a net margin of 9.62% and a return on equity of 12.39%. The company had revenue of $918.40 million during the quarter, compared to the consensus estimate of $867.77 million. During the same period in the previous year, the firm posted $0.73 EPS. The firm’s revenue was up 19.5% compared to the same quarter last year. As a group, equities research analysts predict that Tri Pointe Homes will post 3.65 EPS for the current fiscal year.

Insider Buying and Selling

In other Tri Pointe Homes news, COO Thomas J. Mitchell sold 51,533 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $35.22, for a total value of $1,814,992.26. Following the transaction, the chief operating officer now owns 785,543 shares in the company, valued at $27,666,824.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tri Pointe Homes

A number of hedge funds have recently modified their holdings of TPH. Exchange Traded Concepts LLC increased its position in shares of Tri Pointe Homes by 1,642.6% in the third quarter. Exchange Traded Concepts LLC now owns 33,980 shares of the construction company’s stock valued at $929,000 after acquiring an additional 32,030 shares during the period. Cavalier Investments LLC increased its position in shares of Tri Pointe Homes by 3.8% in the third quarter. Cavalier Investments LLC now owns 17,120 shares of the construction company’s stock valued at $468,000 after acquiring an additional 629 shares during the period. Robeco Institutional Asset Management B.V. increased its position in shares of Tri Pointe Homes by 44.5% in the third quarter. Robeco Institutional Asset Management B.V. now owns 800,710 shares of the construction company’s stock valued at $21,899,000 after acquiring an additional 246,648 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Tri Pointe Homes by 49.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,168 shares of the construction company’s stock valued at $852,000 after acquiring an additional 10,290 shares during the period. Finally, Mackenzie Financial Corp increased its position in shares of Tri Pointe Homes by 3.1% during the third quarter. Mackenzie Financial Corp now owns 26,469 shares of the construction company’s stock valued at $692,000 after buying an additional 788 shares during the period. 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.