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 target price lifted by investment analysts at Royal Bank of Canada from $38.00 to $42.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the construction company’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 11.23% from the company’s previous close.

Other equities analysts have also issued research reports about the company. Wedbush reissued a “neutral” rating and issued a $35.00 price objective on shares of Tri Pointe Homes in a research note on Thursday. Oppenheimer reissued an “outperform” rating and issued a $41.00 price objective (up previously from $36.00) on shares of Tri Pointe Homes in a research note on Wednesday, February 21st. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.60.

Tri Pointe Homes Stock Performance

Shares of TPH traded up $0.94 on Friday, reaching $37.76. 364,932 shares of the stock traded hands, compared to its average volume of 1,056,211. The firm has a market cap of $3.60 billion, a price-to-earnings ratio of 10.99, a P/E/G ratio of 0.76 and a beta of 1.54. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.11 and a quick ratio of 2.11. Tri Pointe Homes has a 12 month low of $24.18 and a 12 month high of $39.08. The stock’s 50-day moving average price is $35.73 and its 200-day moving average price is $32.86.

Tri Pointe Homes (NYSE:TPH) last announced its quarterly earnings results 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 11.75% and a net margin of 9.37%. The firm had revenue of $918.40 million for the quarter, compared to analysts’ expectations of $867.77 million. During the same period in the prior year, the business posted $0.73 earnings per share. The business’s revenue was up 19.5% compared to the same quarter last year. Equities analysts forecast that Tri Pointe Homes will post 3.65 EPS for the current fiscal year.

Insider Buying and Selling at Tri Pointe Homes

In other Tri Pointe Homes news, COO Thomas J. Mitchell sold 51,533 shares of the firm’s stock in a transaction that occurred 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 directly owns 785,543 shares in the company, valued at $27,666,824.46. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.00% of the company’s stock.

Institutional Trading of Tri Pointe Homes

A number of hedge funds have recently made changes to their positions in the business. Pacer Advisors Inc. lifted its position in shares of Tri Pointe Homes by 63.8% in the fourth quarter. Pacer Advisors Inc. now owns 3,913,521 shares of the construction company’s stock valued at $138,539,000 after buying an additional 1,524,401 shares during the last quarter. American Century Companies Inc. lifted its holdings in Tri Pointe Homes by 21.7% during the 3rd quarter. American Century Companies Inc. now owns 1,683,362 shares of the construction company’s stock worth $46,040,000 after purchasing an additional 300,383 shares during the last quarter. Invesco Ltd. lifted its holdings in Tri Pointe Homes by 15.1% during the 3rd quarter. Invesco Ltd. now owns 1,042,993 shares of the construction company’s stock worth $28,526,000 after purchasing an additional 137,175 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Tri Pointe Homes by 2.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,013,767 shares of the construction company’s stock worth $35,887,000 after purchasing an additional 27,260 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in Tri Pointe Homes by 44.5% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 800,710 shares of the construction company’s stock worth $21,899,000 after purchasing an additional 246,648 shares during the last quarter. 97.01% of the stock is owned by institutional investors and hedge funds.

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.