Stock Repurchase Plan Announced by Tri Pointe Homes (NYSE:TPH) Board

Tri Pointe Homes (NYSE:TPH) announced that its board has initiated a share repurchase plan on Wednesday, December 18th, RTT News reports. The company plans to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the construction company to reacquire up to 7.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

Several equities research analysts have issued reports on TPH shares. StockNews.com cut shares of Tri Pointe Homes from a “buy” rating to a “hold” rating in a research note on Tuesday. Royal Bank of Canada reduced their price target on Tri Pointe Homes from $48.00 to $45.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Zelman & Associates raised Tri Pointe Homes from an “underperform” rating to a “neutral” rating and set a $43.00 price objective for the company in a research report on Tuesday, September 17th. Wedbush reiterated a “neutral” rating and issued a $42.00 target price on shares of Tri Pointe Homes in a research note on Thursday, October 24th. Finally, Oppenheimer decreased their price target on Tri Pointe Homes from $56.00 to $53.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.75.

Tri Pointe Homes Trading Down 3.6 %

NYSE TPH opened at $36.81 on Thursday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.64 and a current ratio of 1.64. Tri Pointe Homes has a one year low of $33.24 and a one year high of $47.78. The company’s 50 day moving average price is $42.15 and its 200 day moving average price is $41.86. The firm has a market capitalization of $3.45 billion, a price-to-earnings ratio of 7.64, a PEG ratio of 0.64 and a beta of 1.60.

Tri Pointe Homes (NYSE:TPH) last issued its earnings results on Thursday, October 24th. The construction company reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.11. Tri Pointe Homes had a net margin of 10.41% and a return on equity of 14.83%. The business had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter last year, the firm posted $0.76 EPS. The business’s revenue for the quarter was up 34.9% compared to the same quarter last year. On average, sell-side analysts predict that Tri Pointe Homes will post 4.72 EPS for the current year.

Insiders Place Their Bets

In related news, COO Thomas J. Mitchell sold 77,384 shares of the firm’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 sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.00% of the stock is currently owned by insiders.

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.