Tri Pointe Homes, Inc. (NYSE:TPH) Short Interest Update

Tri Pointe Homes, Inc. (NYSE:TPH) was the target of a large increase in short interest during the month of October. As of October 15th, there was short interest totalling 2,510,000 shares, an increase of 26.1% from the September 30th total of 1,990,000 shares. Based on an average daily volume of 779,500 shares, the short-interest ratio is currently 3.2 days. Currently, 2.8% of the company’s shares are short sold.

Tri Pointe Homes Stock Up 2.3 %

TPH stock traded up $0.93 during mid-day trading on Monday, hitting $41.21. The stock had a trading volume of 301,524 shares, compared to its average volume of 901,763. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.28. Tri Pointe Homes has a 1-year low of $24.46 and a 1-year high of $47.78. The company has a fifty day moving average of $43.98 and a 200 day moving average of $40.89. The stock has a market capitalization of $3.86 billion, a price-to-earnings ratio of 8.36, a PEG ratio of 0.66 and a beta of 1.59.

Tri Pointe Homes (NYSE:TPH) last announced its quarterly earnings data on Thursday, October 24th. The construction company reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.11. Tri Pointe Homes had a net margin of 10.41% and a return on equity of 14.83%. The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the prior year, the business earned $0.76 earnings per share. The firm’s revenue for the quarter was up 34.9% on a year-over-year basis. On average, equities analysts expect that Tri Pointe Homes will post 4.68 EPS for the current fiscal year.

Analysts Set New Price Targets

TPH has been the topic of a number of analyst reports. Royal Bank of Canada lowered their price objective on Tri Pointe Homes from $48.00 to $45.00 and set an “outperform” rating on the stock in a report on Friday. Zelman & Associates upgraded Tri Pointe Homes from an “underperform” rating to a “neutral” rating and set a $43.00 target price on the stock in a research report on Tuesday, September 17th. Oppenheimer lowered their target price on Tri Pointe Homes from $56.00 to $53.00 and set an “outperform” rating for the company in a research note on Friday. Evercore ISI raised shares of Tri Pointe Homes to a “strong-buy” rating in a research note on Friday, July 26th. Finally, Wedbush restated a “neutral” rating and set a $42.00 price objective on shares of Tri Pointe Homes in a report on Thursday. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Tri Pointe Homes currently has an average rating of “Moderate Buy” and an average target price of $45.75.

Insider Activity

In other Tri Pointe Homes news, General Counsel David Ch Lee sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $44.28, for a total value of $221,400.00. Following the completion of the transaction, the general counsel now owns 85,792 shares of the company’s stock, valued at $3,798,869.76. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On Tri Pointe Homes

A number of large investors have recently modified their holdings of the stock. Fidelis Capital Partners LLC acquired a new position in Tri Pointe Homes during the 1st quarter valued at about $25,000. Gradient Investments LLC acquired a new stake in shares of Tri Pointe Homes in the 2nd quarter valued at about $30,000. GAMMA Investing LLC grew its stake in shares of Tri Pointe Homes by 63.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,520 shares of the construction company’s stock worth $57,000 after acquiring an additional 588 shares in the last quarter. Blue Trust Inc. increased its position in shares of Tri Pointe Homes by 31.7% in the second quarter. Blue Trust Inc. now owns 1,774 shares of the construction company’s stock valued at $69,000 after acquiring an additional 427 shares during the last quarter. Finally, CWM LLC lifted its position in shares of Tri Pointe Homes by 70.8% in the second quarter. CWM LLC now owns 2,220 shares of the construction company’s stock valued at $83,000 after buying an additional 920 shares during the last quarter. 97.01% of the stock is currently owned by institutional investors and hedge funds.

About Tri Pointe Homes

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.