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

Tri Pointe Homes, Inc. (NYSE:TPH) saw a large drop in short interest during the month of February. As of February 28th, there was short interest totalling 3,000,000 shares, a drop 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 currently 3.2 days. Approximately 3.4% of the shares of the company are sold short.

Tri Pointe Homes Price Performance

Shares of TPH stock traded up $0.07 during mid-day trading on Tuesday, hitting $31.35. 900,633 shares of the stock traded hands, compared to its average volume of 799,787. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.64 and a current ratio of 2.24. The firm has a market cap 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 company’s 50-day simple moving average is $34.57 and its 200-day simple moving average is $39.34. Tri Pointe Homes has a twelve month low of $30.25 and a twelve month high of $47.78.

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

Tri Pointe Homes declared that its board has approved a share repurchase program on Wednesday, December 18th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the construction company to purchase up to 7.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Hedge Funds Weigh In On Tri Pointe Homes

Institutional investors have recently made changes to their positions in the business. Pacer Advisors Inc. bought a new stake in shares of Tri Pointe Homes in the 4th quarter valued at approximately $118,407,000. Castlekeep Investment Advisors LLC acquired a new position in Tri Pointe Homes during the 4th quarter worth $60,261,000. Norges Bank acquired a new position in Tri Pointe Homes during the 4th quarter worth $14,815,000. Raymond James Financial Inc. acquired a new position in Tri Pointe Homes during the 4th quarter worth $13,342,000. Finally, Weiss Asset Management LP acquired a new position in shares of Tri Pointe Homes in the 3rd quarter valued at $16,066,000. 97.01% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on TPH. StockNews.com downgraded Tri Pointe Homes from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Royal Bank of Canada downgraded Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $41.00 to $37.00 in a research report on Wednesday, February 19th. Evercore ISI reduced their target price 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. Oppenheimer cut their price objective on Tri Pointe Homes from $53.00 to $43.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. Finally, Wedbush restated a “neutral” rating and issued a $38.00 price objective (down from $44.00) on shares of Tri Pointe Homes in a report on Tuesday, February 18th. Four equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Tri Pointe Homes currently has an average 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.