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

Tri Pointe Homes (NYSE:TPH) declared that its Board of Directors has authorized a share repurchase program on Wednesday, December 18th, RTT News reports. The company plans to buyback $250.00 million in outstanding shares. This buyback authorization permits the construction company to repurchase up to 7.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Tri Pointe Homes Price Performance

Shares of TPH opened at $36.60 on Friday. The stock has a market capitalization of $3.43 billion, a P/E ratio of 7.59, a P/E/G ratio of 0.64 and a beta of 1.60. Tri Pointe Homes has a twelve month low of $33.24 and a twelve month high of $47.78. The company has a 50 day moving average of $42.02 and a 200-day moving average of $41.83. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.28.

Tri Pointe Homes (NYSE:TPH) last posted its quarterly earnings data on Thursday, October 24th. The construction company reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.11. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.05 billion. Tri Pointe Homes had a net margin of 10.41% and a return on equity of 14.83%. The company’s quarterly revenue was up 34.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.76 EPS. As a group, equities research analysts forecast that Tri Pointe Homes will post 4.72 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently commented on TPH shares. Royal Bank of Canada lowered their price objective on shares of Tri Pointe Homes from $48.00 to $45.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Oppenheimer lowered 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. 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 report on Tuesday, September 17th. StockNews.com cut Tri Pointe Homes from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, Wedbush reaffirmed a “neutral” rating and issued a $42.00 price target on shares of Tri Pointe Homes in a research note on Thursday, October 24th. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $45.75.

Insider Transactions at Tri Pointe Homes

In related news, COO Thomas J. Mitchell sold 77,384 shares of the firm’s 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 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 document filed with the SEC, which is accessible through the SEC website. Company insiders own 2.00% of the company’s stock.

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.