Oppenheimer Cuts Tri Pointe Homes (NYSE:TPH) Price Target to $43.00

Tri Pointe Homes (NYSE:TPH) had its price objective cut by Oppenheimer from $53.00 to $43.00 in a report released on Wednesday,Benzinga reports. They currently have an outperform rating on the construction company’s stock.

A number of other brokerages have also recently issued reports on TPH. Wedbush restated a “neutral” rating and issued a $38.00 price objective (down previously from $44.00) on shares of Tri Pointe Homes in a research note on Tuesday. Royal Bank of Canada lowered shares of Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $41.00 to $37.00 in a report on Wednesday. StockNews.com lowered shares of Tri Pointe Homes from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. Finally, Evercore ISI lowered their target price on shares of Tri Pointe Homes from $54.00 to $42.00 and set an “outperform” rating on the stock in a report on Wednesday. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $40.60.

Tri Pointe Homes Price Performance

Shares of Tri Pointe Homes stock opened at $30.79 on Wednesday. The firm has a fifty day simple moving average of $36.32 and a 200-day simple moving average of $40.63. The company has a current ratio of 2.24, a quick ratio of 1.64 and a debt-to-equity ratio of 0.28. Tri Pointe Homes has a 1-year low of $30.25 and a 1-year high of $47.78. The stock has a market capitalization of $2.88 billion, a price-to-earnings ratio of 6.37, a PEG ratio of 0.49 and a beta of 1.64.

Tri Pointe Homes (NYSE:TPH) last announced its quarterly earnings data on Tuesday, February 18th. The construction company reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.07. Tri Pointe Homes had a net margin of 10.36% and a return on equity of 14.34%. The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.22 billion. On average, sell-side analysts expect that Tri Pointe Homes will post 4.8 earnings per share for the current year.

Tri Pointe Homes announced that its Board of Directors has approved a share repurchase program on Wednesday, December 18th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the construction company to reacquire up to 7.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other Tri Pointe Homes news, COO Thomas J. Mitchell sold 77,384 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $27,724,424.85. This represents a 9.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Covestor Ltd lifted its position in Tri Pointe Homes by 58.5% during the 4th quarter. Covestor Ltd now owns 908 shares of the construction company’s stock valued at $33,000 after purchasing an additional 335 shares during the period. Reston Wealth Management LLC acquired a new stake in shares of Tri Pointe Homes in the 3rd quarter valued at approximately $45,000. Smartleaf Asset Management LLC raised its position in shares of Tri Pointe Homes by 84.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,339 shares of the construction company’s stock valued at $49,000 after acquiring an additional 613 shares during the period. Assetmark Inc. raised its position in shares of Tri Pointe Homes by 19.6% in the 4th quarter. Assetmark Inc. now owns 1,827 shares of the construction company’s stock valued at $66,000 after acquiring an additional 300 shares during the period. Finally, Sterling Capital Management LLC raised its position in shares of Tri Pointe Homes by 729.5% in the 4th quarter. Sterling Capital Management LLC now owns 2,082 shares of the construction company’s stock valued at $75,000 after acquiring an additional 1,831 shares during the period. 97.01% of the stock is currently owned by institutional investors and hedge funds.

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.