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

Tri Pointe Homes (NYSE:TPH - Get Free Report) declared that its board has authorized a share repurchase plan on Wednesday, December 18th, RTT News reports. The company plans to buyback $250.00 million in outstanding shares. This buyback authorization allows the construction company to reacquire up to 7.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Oppenheimer lowered their target price on shares of Tri Pointe Homes from $56.00 to $53.00 and set an "outperform" rating on the stock in a research report on Friday, October 25th. StockNews.com lowered Tri Pointe Homes from a "buy" rating to a "hold" rating in a research note on Tuesday. Wedbush reiterated a "neutral" rating and issued a $42.00 price objective on shares of Tri Pointe Homes in a research 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 report on Tuesday, September 17th. Finally, 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 research report on Friday, October 25th. Three equities research 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, the company currently has a consensus rating of "Moderate Buy" and an average target price of $45.75.

Tri Pointe Homes Price Performance

Shares of TPH stock traded down $1.37 during trading hours on Wednesday, hitting $36.81. The company had a trading volume of 1,014,697 shares, compared to its average volume of 877,989. Tri Pointe Homes has a 12 month low of $33.24 and a 12 month high of $47.78. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.64 and a current ratio of 1.64. The firm's fifty day moving average is $42.15 and its 200 day moving average is $41.86. The firm has a market capitalization of $3.45 billion, a price-to-earnings ratio of 7.64, a PEG ratio of 0.64 and a beta of 1.60.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The construction company reported $1.18 earnings per share for the quarter, beating analysts' consensus estimates of $1.07 by $0.11. The firm had revenue of $1.11 billion for the quarter, compared to analysts' expectations of $1.05 billion. Tri Pointe Homes had a return on equity of 14.83% and a net margin of 10.41%. The business's revenue was up 34.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.76 earnings per share. On average, sell-side analysts predict that Tri Pointe Homes will post 4.72 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO Thomas J. Mitchell sold 77,384 shares of the firm's stock in a transaction on Monday, December 16th. The stock was sold at an average price of $39.15, for a total transaction of $3,029,583.60. Following the completion of the sale, the chief operating officer now directly owns 708,159 shares of the company's stock, valued at $27,724,424.85. This trade represents a 9.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.00% of the stock is currently owned by corporate insiders.

Tri Pointe Homes Company Profile

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.

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