Tri Pointe Homes (NYSE:TPH) Issues Earnings Results, Beats Estimates By $0.07 EPS

Tri Pointe Homes (NYSE:TPH) released its earnings results on Tuesday. The construction company reported $1.37 earnings per share for the quarter, beating 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 Price Performance

Shares of Tri Pointe Homes stock opened at $32.29 on Wednesday. Tri Pointe Homes has a twelve month low of $32.17 and a twelve month high of $47.78. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.28. The company has a 50-day simple moving average of $36.87 and a two-hundred day simple moving average of $40.84. The stock has a market capitalization of $3.02 billion, a price-to-earnings ratio of 6.70, a price-to-earnings-growth ratio of 0.58 and a beta of 1.64.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Wedbush reissued a “neutral” rating and issued a $38.00 price objective (down previously 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. Oppenheimer reduced their target price on shares of Tri Pointe Homes from $56.00 to $53.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Finally, Royal Bank of Canada reduced their target price on shares of Tri Pointe Homes from $48.00 to $45.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Tri Pointe Homes has a consensus rating of “Moderate Buy” and an average target price of $44.75.

Insiders Place Their Bets

In other Tri Pointe Homes news, COO Thomas J. Mitchell sold 77,384 shares of Tri Pointe Homes stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $39.15, for a total value of $3,029,583.60. Following the completion of the sale, the chief operating officer now owns 708,159 shares in the company, valued at $27,724,424.85. The trade was a 9.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.00% of the company’s stock.

Tri Pointe Homes announced that its Board of Directors has authorized a stock repurchase program on Wednesday, December 18th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the construction company to buy up to 7.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

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.