TRI Pointe Group (TPH) Shares Gap Up After Better-Than-Expected Earnings

TRI Pointe Group (NYSE:TPH) gapped up before the market opened on Wednesday following a better than expected earnings announcement. The stock had previously closed at $15.78, but opened at $16.24. TRI Pointe Group shares last traded at $16.77, with a volume of 2748675 shares trading hands.

The construction company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.04. TRI Pointe Group had a net margin of 6.66% and a return on equity of 11.89%. The business had revenue of $586.20 million for the quarter, compared to analysts’ expectations of $552.11 million. During the same quarter in the previous year, the firm posted $0.05 EPS. The business’s revenue for the quarter was up 49.5% compared to the same quarter last year.

TRI Pointe Group announced that its Board of Directors has initiated a share repurchase plan on Tuesday, February 20th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the construction company to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

A number of equities research analysts have issued reports on the stock. Gabelli cut shares of TRI Pointe Group from a “buy” rating to a “hold” rating in a report on Thursday. Wedbush reissued an “outperform” rating and set a $21.00 target price on shares of TRI Pointe Group in a report on Wednesday. Zacks Investment Research cut shares of TRI Pointe Group from a “buy” rating to a “hold” rating in a report on Thursday, March 1st. ValuEngine raised shares of TRI Pointe Group from a “buy” rating to a “strong-buy” rating in a report on Friday, February 2nd. Finally, Barclays raised shares of TRI Pointe Group from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $17.00 to $21.00 in a report on Friday, January 5th. One research analyst has rated the stock with a sell rating, four have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $18.88.

Institutional investors have recently added to or reduced their stakes in the company. Legal & General Group Plc increased its holdings in shares of TRI Pointe Group by 6.3% in the third quarter. Legal & General Group Plc now owns 128,793 shares of the construction company’s stock worth $1,778,000 after purchasing an additional 7,645 shares during the period. Deutsche Bank AG increased its holdings in shares of TRI Pointe Group by 374.4% in the fourth quarter. Deutsche Bank AG now owns 2,004,693 shares of the construction company’s stock worth $35,922,000 after purchasing an additional 1,582,141 shares during the period. Schwab Charles Investment Management Inc. increased its holdings in shares of TRI Pointe Group by 6.8% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 838,221 shares of the construction company’s stock worth $15,021,000 after purchasing an additional 53,222 shares during the period. BlackRock Inc. increased its holdings in shares of TRI Pointe Group by 4.0% in the fourth quarter. BlackRock Inc. now owns 19,037,872 shares of the construction company’s stock worth $341,159,000 after purchasing an additional 729,721 shares during the period. Finally, Clark Capital Management Group Inc. bought a new position in shares of TRI Pointe Group in the fourth quarter worth $2,079,000.

The firm has a market capitalization of $2,455.69, a price-to-earnings ratio of 12.03, a price-to-earnings-growth ratio of 0.82 and a beta of 1.43. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.01 and a current ratio of 1.01.

TRI Pointe Group Company Profile

TRI Pointe Group, Inc engages in the design, construction, and sale of single-family detached and attached homes in the United States. It operates a portfolio of six brands across eight states, including Maracay Homes in Arizona; Pardee Homes in California and Nevada; Quadrant Homes in Washington; Trendmaker Homes in Texas; TRI Pointe Homes in California and Colorado; and Winchester Homes in Maryland and Virginia.

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