Royal Bank of Canada Lowers Tri Pointe Homes (NYSE:TPH) Price Target to $45.00

Tri Pointe Homes (NYSE:TPH) had its price objective decreased by equities researchers at Royal Bank of Canada from $48.00 to $45.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has an “outperform” rating on the construction company’s stock. Royal Bank of Canada’s price objective points to a potential upside of 10.67% from the stock’s current price.

Other equities analysts have also recently issued research reports about the company. Wedbush reaffirmed a “neutral” rating and issued a $42.00 target price on shares of Tri Pointe Homes in a report on Thursday. Zelman & Associates upgraded Tri Pointe Homes from an “underperform” rating to a “neutral” rating and set a $43.00 price target on the stock in a research report on Tuesday, September 17th. Evercore ISI upgraded Tri Pointe Homes to a “strong-buy” rating in a research report on Friday, July 26th. Finally, Oppenheimer reduced their price target on Tri Pointe Homes from $56.00 to $53.00 and set an “outperform” rating on the stock in a research report on Friday. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $45.75.

Tri Pointe Homes Price Performance

TPH traded down $0.07 on Friday, reaching $40.66. The stock had a trading volume of 539,549 shares, compared to its average volume of 901,829. Tri Pointe Homes has a fifty-two week low of $24.18 and a fifty-two week high of $47.78. The firm has a 50-day moving average of $44.01 and a 200-day moving average of $40.81. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $3.81 billion, a price-to-earnings ratio of 9.24, a price-to-earnings-growth ratio of 0.70 and a beta of 1.59.

Tri Pointe Homes (NYSE:TPH) last issued its earnings results on Thursday, October 24th. The construction company reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.16. Tri Pointe Homes had a return on equity of 14.03% and a net margin of 10.28%. The business had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the prior year, the firm earned $0.76 EPS. The business’s revenue for the quarter was up 34.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Tri Pointe Homes will post 4.68 EPS for the current year.

Insider Activity at Tri Pointe Homes

In related news, CFO Glenn J. Keeler sold 24,200 shares of the company’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $46.16, for a total transaction of $1,117,072.00. Following the sale, the chief financial officer now owns 149,108 shares in the company, valued at $6,882,825.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Glenn J. Keeler sold 24,200 shares of the company’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $46.16, for a total transaction of $1,117,072.00. Following the sale, the chief financial officer now owns 149,108 shares in the company, valued at $6,882,825.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel David Ch Lee sold 5,000 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $44.28, for a total value of $221,400.00. Following the sale, the general counsel now owns 85,792 shares in the company, valued at approximately $3,798,869.76. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tri Pointe Homes

Several institutional investors and hedge funds have recently made changes to their positions in the business. Oliver Luxxe Assets LLC boosted its position in shares of Tri Pointe Homes by 1.2% during the 1st quarter. Oliver Luxxe Assets LLC now owns 29,399 shares of the construction company’s stock valued at $1,137,000 after purchasing an additional 354 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in Tri Pointe Homes by 1.5% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 25,094 shares of the construction company’s stock worth $959,000 after acquiring an additional 376 shares in the last quarter. Blue Trust Inc. boosted its holdings in Tri Pointe Homes by 31.7% in the second quarter. Blue Trust Inc. now owns 1,774 shares of the construction company’s stock worth $69,000 after acquiring an additional 427 shares in the last quarter. Evergreen Capital Management LLC boosted its holdings in Tri Pointe Homes by 7.1% in the second quarter. Evergreen Capital Management LLC now owns 7,863 shares of the construction company’s stock worth $293,000 after acquiring an additional 519 shares in the last quarter. Finally, Diversified Trust Co boosted its holdings in Tri Pointe Homes by 4.2% in the second quarter. Diversified Trust Co now owns 13,308 shares of the construction company’s stock worth $496,000 after acquiring an additional 536 shares in the last quarter. Institutional investors 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.