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

Tri Pointe Homes (NYSE:TPH - Get Free Report) had its target price cut by equities research analysts at Oppenheimer from $53.00 to $43.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an "outperform" rating on the construction company's stock. Oppenheimer's price target would indicate a potential upside of 39.68% from the company's previous close.

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

Tri Pointe Homes Stock Performance

NYSE TPH traded down $0.49 during trading hours on Wednesday, hitting $30.79. 1,299,944 shares of the company's stock traded hands, compared to its average volume of 756,523. Tri Pointe Homes has a 52 week low of $30.25 and a 52 week high of $47.78. The firm has a market capitalization of $2.88 billion, a P/E ratio of 6.37, a P/E/G ratio of 0.67 and a beta of 1.64. The company has a current ratio of 2.24, a quick ratio of 1.64 and a debt-to-equity ratio of 0.28. The business's fifty day moving average price is $36.16 and its two-hundred day moving average price is $40.56.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last posted its quarterly earnings data 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 during the quarter, compared to analyst estimates of $1.22 billion. Tri Pointe Homes had a return on equity of 14.34% and a net margin of 10.36%. Equities research analysts predict that Tri Pointe Homes will post 3.58 EPS for the current year.

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

Insider Buying and Selling at Tri Pointe Homes

In related news, COO Thomas J. Mitchell sold 77,384 shares of the company'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 completion of the transaction, the chief operating officer now owns 708,159 shares in the company, valued at approximately $27,724,424.85. This represents a 9.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.00% of the company's stock.

Institutional Trading of Tri Pointe Homes

Hedge funds have recently bought and sold shares of the stock. Mackenzie Financial Corp increased its holdings in shares of Tri Pointe Homes by 129.1% in the fourth quarter. Mackenzie Financial Corp now owns 51,968 shares of the construction company's stock worth $1,884,000 after purchasing an additional 29,281 shares during the last quarter. Castlekeep Investment Advisors LLC purchased a new position in Tri Pointe Homes during the 4th quarter valued at approximately $1,642,000. PharVision Advisers LLC bought a new stake in Tri Pointe Homes in the 4th quarter worth approximately $242,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Tri Pointe Homes by 20.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 284,527 shares of the construction company's stock worth $10,317,000 after acquiring an additional 48,857 shares during the last quarter. Finally, Voloridge Investment Management LLC raised its holdings in shares of Tri Pointe Homes by 44.9% during the 4th quarter. Voloridge Investment Management LLC now owns 495,976 shares of the construction company's stock worth $17,984,000 after acquiring an additional 153,758 shares in the last quarter. Hedge funds and other 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.