TRI Pointe Group, Inc. (TPH) Hits New 1-Year High After Earnings Beat

TRI Pointe Group, Inc. (NYSE:TPH) reached a new 52-week high during trading on Wednesday following a better than expected earnings announcement. The company traded as high as $16.57 and last traded at $16.56, with a volume of 4,677,873 shares changing hands. The stock had previously closed at $15.57.

The construction company reported $0.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.03. The company had revenue of $717.40 million for the quarter, compared to analysts’ expectations of $706.65 million. TRI Pointe Group had a net margin of 5.77% and a return on equity of 7.32%. The firm’s quarterly revenue was up 24.0% on a year-over-year basis. During the same quarter last year, the company posted $0.22 earnings per share.



TRI Pointe Group declared that its Board of Directors has authorized a stock buyback program on Wednesday, July 26th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the construction company to reacquire shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

Several brokerages have recently weighed in on TPH. TheStreet upgraded shares of TRI Pointe Group from a “c” rating to a “b-” rating in a research note on Monday, July 10th. BTIG Research upgraded shares of TRI Pointe Group from a “sell” rating to a “neutral” rating and set a $15.00 price target on the stock in a research note on Thursday. JMP Securities lifted their price target on shares of TRI Pointe Group from $16.00 to $18.00 and gave the stock a “market outperform” rating in a research note on Thursday. Gabelli lifted their price target on shares of TRI Pointe Group from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Barclays PLC set a $17.00 price target on shares of TRI Pointe Group and gave the stock a “hold” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $16.30.

In other news, CFO Michael D. Grubbs sold 300,000 shares of the firm’s stock in a transaction on Thursday, October 19th. The shares were sold at an average price of $15.02, for a total transaction of $4,506,000.00. Following the sale, the chief financial officer now directly owns 163,828 shares in the company, valued at approximately $2,460,696.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.40% of the stock is owned by company insiders.

Several hedge funds have recently made changes to their positions in the company. Amalgamated Bank raised its position in shares of TRI Pointe Group by 0.5% during the 1st quarter. Amalgamated Bank now owns 20,926 shares of the construction company’s stock valued at $262,000 after purchasing an additional 101 shares during the period. First Mercantile Trust Co. raised its position in shares of TRI Pointe Group by 3.4% during the 2nd quarter. First Mercantile Trust Co. now owns 18,855 shares of the construction company’s stock valued at $249,000 after purchasing an additional 625 shares during the period. Nisa Investment Advisors LLC raised its position in shares of TRI Pointe Group by 1.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 42,022 shares of the construction company’s stock valued at $548,000 after purchasing an additional 650 shares during the period. UBS Asset Management Americas Inc. raised its position in shares of TRI Pointe Group by 0.8% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 86,501 shares of the construction company’s stock valued at $1,141,000 after purchasing an additional 704 shares during the period. Finally, Teacher Retirement System of Texas raised its position in shares of TRI Pointe Group by 6.0% during the 2nd quarter. Teacher Retirement System of Texas now owns 12,729 shares of the construction company’s stock valued at $168,000 after purchasing an additional 725 shares during the period.

The stock has a market cap of $2.57 billion, a PE ratio of 20.15 and a beta of 1.68. The company’s 50 day moving average is $13.92 and its 200 day moving average is $13.15.

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TRI Pointe Group Company Profile

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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