Stock Buyback Program Authorized by Tri Pointe Homes (NYSE:TPH) Board of Directors

Tri Pointe Homes (NYSE:TPH) announced that its board has approved a share repurchase plan on Wednesday, December 18th, RTT News reports. The company plans to buyback $250.00 million in shares. This buyback authorization permits the construction company to purchase up to 7.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Tri Pointe Homes Price Performance

Shares of TPH stock opened at $36.60 on Friday. The stock’s fifty day simple moving average is $42.02 and its 200 day simple moving average is $41.83. Tri Pointe Homes has a one year low of $33.24 and a one year high of $47.78. The firm has a market cap of $3.43 billion, a price-to-earnings ratio of 7.59, a P/E/G ratio of 0.64 and a beta of 1.60. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.64 and a quick ratio of 1.64.

Tri Pointe Homes (NYSE:TPH) last announced its quarterly earnings results on Thursday, October 24th. The construction company reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same period last year, the firm posted $0.76 EPS. The firm’s quarterly revenue was up 34.9% on a year-over-year basis. On average, analysts expect that Tri Pointe Homes will post 4.72 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Insider Buying and Selling

In other Tri Pointe Homes news, COO Thomas J. Mitchell sold 77,384 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $39.15, for a total value of $3,029,583.60. Following the transaction, the chief operating officer now directly owns 708,159 shares in the company, valued at approximately $27,724,424.85. This trade represents a 9.85 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.00% of the stock is owned by corporate insiders.

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.