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

Tri Pointe Homes (NYSE:TPH) had its price target trimmed by Oppenheimer from $53.00 to $43.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an outperform rating on the construction company’s stock.

Several other brokerages also recently commented on TPH. Royal Bank of Canada downgraded Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from $41.00 to $37.00 in a report on Wednesday. Evercore ISI dropped their price target on Tri Pointe Homes from $54.00 to $42.00 and set an “outperform” rating on the stock in a research report on Wednesday. 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 report on Tuesday. Finally, StockNews.com lowered Tri Pointe Homes from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $40.60.

Tri Pointe Homes Price Performance

Shares of NYSE TPH opened at $30.88 on Wednesday. Tri Pointe Homes has a twelve month low of $30.67 and a twelve month high of $47.78. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $2.89 billion, a price-to-earnings ratio of 6.41, a price-to-earnings-growth ratio of 0.58 and a beta of 1.64. The business has a 50 day simple moving average of $36.69 and a 200-day simple moving average of $40.76.

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

Tri Pointe Homes announced that its board has authorized a share buyback program on Wednesday, December 18th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the construction company to repurchase up to 7.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Tri Pointe Homes

In related news, COO Thomas J. Mitchell sold 77,384 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $39.15, for a total value 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. This trade represents a 9.85 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Covestor Ltd grew its holdings in Tri Pointe Homes by 58.5% in the 4th quarter. Covestor Ltd now owns 908 shares of the construction company’s stock valued at $33,000 after buying an additional 335 shares during the last quarter. Reston Wealth Management LLC acquired a new stake in shares of Tri Pointe Homes during the 3rd quarter worth approximately $45,000. Smartleaf Asset Management LLC boosted its stake in 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 buying an additional 613 shares in the last quarter. Assetmark Inc. boosted its stake in 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 buying an additional 300 shares in the last quarter. Finally, Sterling Capital Management LLC boosted its stake in 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 buying an additional 1,831 shares in the last quarter. 97.01% of the stock is owned by institutional investors.

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.