Tri Pointe Homes, Inc. (NYSE:TPH) Sees Significant Drop in Short Interest

Tri Pointe Homes, Inc. (NYSE:TPH) was the recipient of a significant decrease in short interest in 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. Currently, 3.4% of the company’s stock are sold short. Based on an average daily trading volume, of 944,100 shares, the days-to-cover ratio is presently 3.2 days.

Hedge Funds Weigh In On Tri Pointe Homes

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its stake in Tri Pointe Homes by 3.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,485,663 shares of the construction company’s stock valued at $112,644,000 after purchasing an additional 76,830 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Tri Pointe Homes by 3.5% during the 4th quarter. Principal Financial Group Inc. now owns 486,100 shares of the construction company’s stock valued at $17,626,000 after purchasing an additional 16,380 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Tri Pointe Homes by 404.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 43,849 shares of the construction company’s stock valued at $1,987,000 after purchasing an additional 35,162 shares in the last quarter. New York State Teachers Retirement System boosted its stake in Tri Pointe Homes by 15.3% during the 4th quarter. New York State Teachers Retirement System now owns 67,505 shares of the construction company’s stock valued at $2,448,000 after purchasing an additional 8,948 shares in the last quarter. Finally, GW&K Investment Management LLC boosted its stake in shares of Tri Pointe Homes by 5.3% during the 4th quarter. GW&K Investment Management LLC now owns 2,036,689 shares of the construction company’s stock worth $73,850,000 after acquiring an additional 102,187 shares in the last quarter. 97.01% of the stock is owned by institutional investors.

Tri Pointe Homes Stock Performance

Shares of TPH stock opened at $31.35 on Wednesday. Tri Pointe Homes has a 12-month low of $30.25 and a 12-month high of $47.78. The firm has a market capitalization of $2.88 billion, a price-to-earnings ratio of 6.49, a price-to-earnings-growth ratio of 0.67 and a beta of 1.71. The business has a 50 day simple moving average of $34.49 and a 200 day simple moving average of $39.25. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.24 and a quick ratio of 1.64.

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 analysts’ consensus estimates of $1.30 by $0.07. The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.22 billion. Tri Pointe Homes had a return on equity of 14.34% and a net margin of 10.36%. On average, equities research analysts anticipate that Tri Pointe Homes will post 3.58 EPS for the current year.

Tri Pointe Homes declared that its Board of Directors has initiated a share repurchase plan on Wednesday, December 18th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the construction company to purchase up to 7.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

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

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.