Short Interest in Tri Pointe Homes, Inc. (NYSE:TPH) Decreases By 24.2%

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

Hedge Funds Weigh In On Tri Pointe Homes

Hedge funds and other institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC lifted its holdings in 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 during the period. Principal Financial Group Inc. lifted its holdings in 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 during the period. Massachusetts Financial Services Co. MA lifted its holdings in 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 during the period. New York State Teachers Retirement System lifted its holdings in 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 during the period. Finally, GW&K Investment Management LLC lifted its holdings in 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 during the period. Institutional investors and hedge funds own 97.01% of the company’s stock.

Tri Pointe Homes Stock Performance

Shares of Tri Pointe Homes stock opened at $31.52 on Monday. The company has a quick ratio of 1.64, a current ratio of 2.24 and a debt-to-equity ratio of 0.28. Tri Pointe Homes has a twelve month low of $30.25 and a twelve month high of $47.78. The stock has a market cap of $2.89 billion, a price-to-earnings ratio of 6.53, a P/E/G ratio of 0.67 and a beta of 1.71. The company’s fifty day moving average is $34.65 and its 200 day moving average is $39.43.

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

Tri Pointe Homes declared that its board has initiated a stock repurchase plan on Wednesday, December 18th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the construction company to buy up to 7.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

TPH has been the topic of a number of research reports. Seaport Res Ptn raised shares of Tri Pointe Homes from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 6th. Royal Bank of Canada cut shares of Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from $41.00 to $37.00 in a research note on Wednesday, February 19th. Evercore ISI decreased their target price on shares of Tri Pointe Homes from $54.00 to $42.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. Oppenheimer decreased their target price on shares of Tri Pointe Homes from $53.00 to $43.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. Finally, StockNews.com cut shares of Tri Pointe Homes from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Four analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.60.

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.