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

Tri Pointe Homes (NYSE:TPH) posted its quarterly 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 return on equity of 14.83% and a net margin of 10.41%.

Tri Pointe Homes Price Performance

NYSE:TPH opened at $36.17 on Tuesday. The company has a market cap 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. The firm’s fifty day moving average price is $36.98 and its two-hundred day moving average price is $40.90. Tri Pointe Homes has a one year low of $33.24 and a one year high of $47.78. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.64 and a quick ratio of 1.64.

Insider Transactions at Tri Pointe Homes

In other news, COO Thomas J. Mitchell sold 77,384 shares of the company’s stock in a transaction that occurred 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 owns 708,159 shares of the company’s stock, valued at approximately $27,724,424.85. This represents a 9.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Wedbush reissued a “neutral” rating and issued a $42.00 target price on shares of Tri Pointe Homes in a research note on Thursday, October 24th. Royal Bank of Canada cut their price target on shares of 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. Oppenheimer decreased their price objective on shares of Tri Pointe Homes from $56.00 to $53.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Finally, StockNews.com cut shares of Tri Pointe Homes from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. Three investment 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. According to data from MarketBeat.com, Tri Pointe Homes has an average rating of “Moderate Buy” and an average target price of $45.75.

Tri Pointe Homes declared that its board has approved a share buyback program on Wednesday, December 18th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the construction company to purchase up to 7.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is 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.