Tri Pointe Homes (NYSE:TPH) Given New $43.00 Price Target at Oppenheimer

Tri Pointe Homes (NYSE:TPH) had its target price cut by stock analysts at Oppenheimer from $53.00 to $43.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the construction company’s stock. Oppenheimer’s price target would indicate a potential upside of 38.81% from the company’s previous close.

Other research analysts also recently issued reports about the stock. Wedbush reissued a “neutral” rating and set a $38.00 price target (down from $44.00) on shares of Tri Pointe Homes in a research note on Tuesday. Evercore ISI decreased their price target on shares of Tri Pointe Homes from $54.00 to $42.00 and set an “outperform” rating on the stock in a research note on Wednesday. Royal Bank of Canada downgraded shares of Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from $41.00 to $37.00 in a research note on Wednesday. Finally, StockNews.com downgraded shares of Tri Pointe Homes from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $40.60.

Tri Pointe Homes Price Performance

Shares of TPH stock traded down $1.30 during trading hours on Wednesday, hitting $30.98. 630,778 shares of the company’s stock were exchanged, compared to its average volume of 698,947. The company has a market capitalization of $2.90 billion, a PE ratio of 6.42, a PEG ratio of 0.58 and a beta of 1.64. Tri Pointe Homes has a 12-month low of $30.67 and a 12-month high of $47.78. The business’s 50 day simple moving average is $36.69 and its 200-day simple moving average is $40.76. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.28.

Tri Pointe Homes (NYSE:TPH) last posted its quarterly earnings results on Tuesday, February 18th. The construction company reported $1.37 EPS for the quarter, topping the consensus estimate of $1.30 by $0.07. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.22 billion. Tri Pointe Homes had a net margin of 10.41% and a return on equity of 14.83%. On average, equities research analysts anticipate that Tri Pointe Homes will post 4.72 earnings per share for the current year.

Tri Pointe Homes declared that its Board of Directors has initiated a share buyback plan on Wednesday, December 18th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the construction company to purchase up to 7.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Tri Pointe Homes

In other Tri Pointe Homes news, COO Thomas J. Mitchell sold 77,384 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $39.15, for a total transaction of $3,029,583.60. Following the transaction, the chief operating officer now directly owns 708,159 shares of the company’s stock, valued at approximately $27,724,424.85. The trade was a 9.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of Tri Pointe Homes by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 11,573,813 shares of the construction company’s stock valued at $419,666,000 after buying an additional 143,365 shares in the last quarter. Pacer Advisors Inc. bought a new stake in shares of Tri Pointe Homes during the 4th quarter valued at $118,407,000. Geode Capital Management LLC boosted its holdings in shares of Tri Pointe Homes by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 2,529,823 shares of the construction company’s stock valued at $91,748,000 after buying an additional 44,160 shares in the last quarter. GW&K Investment Management LLC boosted its holdings in shares of Tri Pointe Homes by 5.3% during the 4th quarter. GW&K Investment Management LLC now owns 2,036,689 shares of the construction company’s stock valued at $73,850,000 after buying an additional 102,187 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in shares of Tri Pointe Homes by 14.0% during the 4th quarter. American Century Companies Inc. now owns 1,946,471 shares of the construction company’s stock valued at $70,579,000 after buying an additional 238,807 shares in the last quarter. 97.01% of the stock is 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.