TRI Pointe Group (TPH) to Buyback $100.00 million in Stock

TRI Pointe Group (NYSE:TPH) declared that its Board of Directors has approved a stock repurchase plan, which permits the company to buyback $100.00 million in shares on Tuesday, February 20th, EventVestor reports. This buyback authorization permits the construction company to reacquire shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Several brokerages have commented on TPH. Wedbush reissued an “outperform” rating and set a $21.00 price objective on shares of TRI Pointe Group in a research report on Wednesday. ValuEngine raised TRI Pointe Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 2nd. Zacks Investment Research raised TRI Pointe Group from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a research report on Saturday, January 6th. Barclays raised TRI Pointe Group from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $17.00 to $21.00 in a research report on Friday, January 5th. Finally, B. Riley reissued a “buy” rating on shares of TRI Pointe Group in a research report on Wednesday, November 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $18.22.

TRI Pointe Group (NYSE:TPH) opened at $16.94 on Friday. TRI Pointe Group has a twelve month low of $11.74 and a twelve month high of $19.55. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $2,550.00, a price-to-earnings ratio of 12.36, a PEG ratio of 0.90 and a beta of 1.57.

TRI Pointe Group (NYSE:TPH) last issued its quarterly earnings results on Tuesday, February 20th. The construction company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.06. TRI Pointe Group had a return on equity of 12.05% and a net margin of 6.66%. The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same period last year, the company earned $0.36 earnings per share. The company’s revenue was up 45.7% on a year-over-year basis. sell-side analysts anticipate that TRI Pointe Group will post 1.77 EPS for the current fiscal year.

In other news, insider Thomas J. Mitchell sold 150,822 shares of the firm’s stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $18.83, for a total transaction of $2,839,978.26. Following the completion of 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Douglas F. Bauer sold 75,000 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $18.04, for a total value of $1,353,000.00. Following the transaction, the chief executive officer now owns 289,313 shares of the company’s stock, valued at $5,219,206.52. The disclosure for this sale can be found here. 2.20% of the stock is owned by company insiders.

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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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