Tri Pointe Homes (NYSE:TPH) Price Target Increased to $42.00 by Analysts at Royal Bank of Canada

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

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

Tri Pointe Homes Trading Up 2.9 %

TPH opened at $37.87 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 quick ratio of 2.11, a current ratio of 1.99 and a debt-to-equity ratio of 0.45. The stock has a market cap of $3.61 billion, a PE ratio of 10.10, a PEG ratio of 0.77 and a beta of 1.54. The business has a 50 day moving average of $35.79 and a 200-day moving average of $32.94.

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

Insider Transactions at Tri Pointe Homes

In other news, COO Thomas J. Mitchell sold 51,533 shares of the business’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $35.22, for a total value of $1,814,992.26. Following the completion of 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of TPH. Exchange Traded Concepts LLC raised its stake 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 worth $929,000 after purchasing an additional 32,030 shares during the last quarter. Cavalier Investments LLC grew its holdings 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 worth $468,000 after acquiring an additional 629 shares during the period. Robeco Institutional Asset Management B.V. grew its holdings 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 worth $21,899,000 after acquiring an additional 246,648 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings 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 worth $852,000 after acquiring an additional 10,290 shares during the period. Finally, Mackenzie Financial Corp boosted its stake in shares of Tri Pointe Homes by 3.1% in the third quarter. Mackenzie Financial Corp now owns 26,469 shares of the construction company’s stock worth $692,000 after acquiring an additional 788 shares during the period. Hedge funds and other institutional investors own 97.01% of the company’s stock.

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.