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

Tri Pointe Homes (NYSE:TPH) had its price target lifted by Royal Bank of Canada from $42.00 to $48.00 in a report published 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 also recently issued reports on TPH. Oppenheimer raised their price target on Tri Pointe Homes from $41.00 to $46.00 and gave the stock an outperform rating in a research note on Friday, April 26th. StockNews.com upgraded Tri Pointe Homes from a hold rating to a buy rating in a research note on Friday, April 26th. Finally, Wedbush reaffirmed a neutral rating and issued a $42.00 target price on shares of Tri Pointe Homes in a report on Thursday. 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 MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $45.50.

Tri Pointe Homes Price Performance

TPH stock opened at $46.12 on Friday. The business’s 50-day moving average is $39.15 and its two-hundred day moving average is $37.11. The firm has a market capitalization of $4.38 billion, a P/E ratio of 12.30, a P/E/G ratio of 0.78 and a beta of 1.59. Tri Pointe Homes has a 1 year low of $24.18 and a 1 year high of $47.78. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.99.

Tri Pointe Homes (NYSE:TPH) last issued its earnings results on Thursday, July 25th. The construction company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.22. Tri Pointe Homes had a net margin of 10.28% and a return on equity of 14.03%. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the previous year, the firm posted $0.60 earnings per share. The company’s revenue was up 38.3% compared to the same quarter last year. Analysts anticipate that Tri Pointe Homes will post 4.49 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Douglas F. Bauer sold 56,567 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were 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 of the company’s stock, valued at $26,963,520.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Tri Pointe Homes

A number of hedge funds have recently added to or reduced their stakes in the business. Fidelis Capital Partners LLC acquired a new stake in Tri Pointe Homes during the first quarter worth about $25,000. Gradient Investments LLC acquired a new stake in Tri Pointe Homes in the second quarter worth $30,000. Daiwa Securities Group Inc. bought a new stake in Tri Pointe Homes in the fourth quarter valued at $35,000. Evermay Wealth Management LLC bought a new stake in Tri Pointe Homes in the fourth quarter valued at $35,000. Finally, GAMMA Investing LLC acquired a new position in shares of Tri Pointe Homes during the fourth quarter valued at $41,000. Institutional investors and hedge funds 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.