TRI Pointe Group (NYSE:TPH) posted its earnings results on Tuesday, February 20th. The construction company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.06, Bloomberg Earnings reports. The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.11 billion. TRI Pointe Group had a net margin of 6.66% and a return on equity of 11.89%. The company’s revenue for the quarter was up 45.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.36 EPS.
Shares of TRI Pointe Group (NYSE TPH) traded down $0.26 on Wednesday, reaching $16.42. 830,370 shares of the company were exchanged, compared to its average volume of 2,014,468. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $2,510.13, a PE ratio of 13.35, a PEG ratio of 0.84 and a beta of 1.56. TRI Pointe Group has a 52-week low of $12.01 and a 52-week high of $19.55.
In other news, insider Thomas J. Mitchell sold 150,822 shares of the business’s stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $18.83, for a total transaction of $2,839,978.26. Following the transaction, the insider now directly owns 274,312 shares in the company, valued at $5,165,294.96. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Douglas F. Bauer sold 75,000 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $18.04, for a total transaction of $1,353,000.00. Following the transaction, the chief executive officer now owns 289,313 shares in the company, valued at $5,219,206.52. The disclosure for this sale can be found here. Insiders own 2.20% of the company’s stock.
TRI Pointe Group announced that its Board of Directors has authorized a share repurchase plan on Tuesday, February 20th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the construction company to purchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.
TPH has been the topic of a number of research reports. ValuEngine raised shares of TRI Pointe Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 2nd. Zacks Investment Research upgraded shares of TRI Pointe Group from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a report on Saturday, January 6th. Wedbush raised their price target on shares of TRI Pointe Group from $19.00 to $21.00 and gave the stock an “outperform” rating in a report on Friday, December 29th. Finally, Barclays upgraded shares of TRI Pointe Group from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $17.00 to $21.00 in a report on Friday, January 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $18.88.
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About TRI Pointe Group
TRI Pointe Group, Inc is a homebuilder company. The Company’s operations are organized in two principal businesses, including homebuilding and financial services. Its homebuilding operation consists of six segments: Maracay Homes, including operations in Arizona; Pardee Homes, consisting of operations in California and Nevada; Quadrant Homes, consisting of operations in Washington; Trendmaker Homes, consisting of operations in Texas; TRI Pointe Homes, consisting of operations in California and Colorado, and Winchester Homes, consisting of operations in Maryland and Virginia.
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