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

Tri Pointe Homes, Inc. (NYSE:TPH) saw a large decrease in short interest in the month of February. As of February 28th, there was short interest totalling 3,000,000 shares, a decrease of 24.2% from the February 13th total of 3,960,000 shares. Based on an average daily volume of 944,100 shares, the days-to-cover ratio is presently 3.2 days. Approximately 3.4% of the shares of the company are sold short.

Tri Pointe Homes Trading Up 1.2 %

Shares of TPH stock opened at $31.52 on Monday. The firm has a 50 day moving average price of $34.65 and a two-hundred day moving average price of $39.43. The company has a quick ratio of 1.64, a current ratio of 2.24 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $2.89 billion, a PE ratio of 6.53, a price-to-earnings-growth ratio of 0.67 and a beta of 1.71. Tri Pointe Homes has a 12-month low of $30.25 and a 12-month high of $47.78.

Tri Pointe Homes (NYSE:TPH) last issued its quarterly earnings data on Tuesday, February 18th. The construction company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.07. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.22 billion. Tri Pointe Homes had a net margin of 10.36% and a return on equity of 14.34%. As a group, analysts predict that Tri Pointe Homes will post 3.58 earnings per share for the current year.

Tri Pointe Homes announced that its board has authorized a share repurchase plan on Wednesday, December 18th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the construction company to purchase up to 7.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Evercore ISI reduced their price target on Tri Pointe Homes from $54.00 to $42.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. StockNews.com cut Tri Pointe Homes from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. Wedbush reiterated a “neutral” rating and set a $38.00 price target (down previously from $44.00) on shares of Tri Pointe Homes in a report on Tuesday, February 18th. Oppenheimer reduced their price target on Tri Pointe Homes from $53.00 to $43.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. Finally, Royal Bank of Canada cut Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and reduced their price target for the stock from $41.00 to $37.00 in a report on Wednesday, February 19th. Four research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $40.60.

Institutional Investors Weigh In On Tri Pointe Homes

Hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC raised its position in shares of Tri Pointe Homes by 3.2% in the third quarter. Geode Capital Management LLC now owns 2,485,663 shares of the construction company’s stock valued at $112,644,000 after buying an additional 76,830 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Tri Pointe Homes by 3.5% in the fourth quarter. Principal Financial Group Inc. now owns 486,100 shares of the construction company’s stock valued at $17,626,000 after buying an additional 16,380 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Tri Pointe Homes by 404.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 43,849 shares of the construction company’s stock valued at $1,987,000 after buying an additional 35,162 shares in the last quarter. New York State Teachers Retirement System raised its position in shares of Tri Pointe Homes by 15.3% in the fourth quarter. New York State Teachers Retirement System now owns 67,505 shares of the construction company’s stock valued at $2,448,000 after buying an additional 8,948 shares in the last quarter. Finally, GW&K Investment Management LLC raised its position in shares of Tri Pointe Homes by 5.3% in the fourth quarter. GW&K Investment Management LLC now owns 2,036,689 shares of the construction company’s stock valued at $73,850,000 after buying an additional 102,187 shares in the last quarter. 97.01% of the stock is currently owned by institutional investors and hedge funds.

Tri Pointe Homes Company Profile

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.