Tri Pointe Homes (NYSE:TPH) to Repurchase $50.00 million in Shares

Tri Pointe Homes (NYSE:TPH - Get Free Report) declared that its Board of Directors has authorized a share repurchase program on Thursday, July 24th, RTT News reports. The company plans to buyback $50.00 million in outstanding shares. This buyback authorization permits the construction company to repurchase up to 1.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Separately, Wedbush raised shares of Tri Pointe Homes from a "neutral" rating to an "outperform" rating and boosted their price objective for the company from $38.00 to $43.00 in a research report on Monday, April 28th. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $41.60.

Tri Pointe Homes Stock Performance

Shares of Tri Pointe Homes stock traded down $3.41 during trading on Thursday, hitting $31.79. 1,799,004 shares of the stock were exchanged, compared to its average volume of 1,067,007. Tri Pointe Homes has a 1-year low of $27.90 and a 1-year high of $47.78. The stock has a market capitalization of $2.88 billion, a price-to-earnings ratio of 7.06, a price-to-earnings-growth ratio of 0.92 and a beta of 1.25. The company has a fifty day moving average price of $31.65 and a 200-day moving average price of $32.43. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.28.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The construction company reported $0.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.66 by $0.11. Tri Pointe Homes had a net margin of 10.02% and a return on equity of 12.97%. The firm had revenue of $884.01 million during the quarter, compared to the consensus estimate of $810.77 million. During the same quarter in the previous year, the firm posted $1.25 EPS. The business's revenue for the quarter was down 22.3% compared to the same quarter last year. As a group, equities analysts predict that Tri Pointe Homes will post 3.58 EPS for the current fiscal year.

Insider Buying and Selling at Tri Pointe Homes

In related news, CEO Douglas F. Bauer sold 120,287 shares of the company's stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $30.15, for a total transaction of $3,626,653.05. Following the completion of the transaction, the chief executive officer directly owned 627,833 shares in the company, valued at $18,929,164.95. This represents a 16.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.70% of the company's stock.

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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