Tri Pointe Homes (NYSE:TPH) Announces Quarterly Earnings Results

Tri Pointe Homes (NYSE:TPH) announced its quarterly earnings results on Tuesday. The construction company reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.07, Zacks reports. Tri Pointe Homes had a net margin of 10.41% and a return on equity of 14.83%.

Tri Pointe Homes Stock Up 0.5 %

TPH stock opened at $36.17 on Tuesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.64 and a quick ratio of 1.64. The stock has a market capitalization of $3.39 billion, a P/E ratio of 7.50, a P/E/G ratio of 0.59 and a beta of 1.64. Tri Pointe Homes has a fifty-two week low of $33.24 and a fifty-two week high of $47.78. The business has a 50-day moving average of $36.98 and a 200-day moving average of $40.90.

Wall Street Analyst Weigh In

Several analysts recently commented on TPH shares. StockNews.com downgraded Tri Pointe Homes from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Wedbush restated a “neutral” rating and issued a $42.00 price target on shares of Tri Pointe Homes in a report on Thursday, October 24th. Oppenheimer cut their price objective on Tri Pointe Homes from $56.00 to $53.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Finally, Royal Bank of Canada lowered their target price on Tri Pointe Homes from $48.00 to $45.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $45.75.

Insider Activity at Tri Pointe Homes

In related news, COO Thomas J. Mitchell sold 77,384 shares of the 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 document filed with the SEC, which can be accessed through this hyperlink. 2.00% of the stock is owned by insiders.

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

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.