Tri Pointe Homes (NYSE:TPH) Releases Earnings Results, Beats Expectations 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, topping the consensus estimate 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 Trading Up 0.5 %

Shares of NYSE TPH opened at $36.17 on Tuesday. The stock has a fifty day simple moving average of $36.98 and a 200-day simple moving average of $40.90. Tri Pointe Homes has a twelve month low of $33.24 and a twelve month high of $47.78. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $3.39 billion, a PE ratio of 7.50, a PEG ratio of 0.59 and a beta of 1.64.

Tri Pointe Homes declared that its board has approved a share repurchase program on Wednesday, December 18th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the construction company to purchase up to 7.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Activity at Tri Pointe Homes

In other Tri Pointe Homes news, COO Thomas J. Mitchell sold 77,384 shares of the stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 708,159 shares in the company, valued at $27,724,424.85. This represents a 9.85 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on TPH shares. Oppenheimer cut their price target on Tri Pointe Homes from $56.00 to $53.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Wedbush reaffirmed 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 lowered their price target on shares of Tri Pointe Homes from $48.00 to $45.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Finally, StockNews.com lowered shares of Tri Pointe Homes from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Tri Pointe Homes has a consensus rating of “Moderate Buy” and an average target price of $45.75.

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.