Tri Pointe Homes, Inc. (NYSE:TPH) Sees Large Decrease in Short Interest

Tri Pointe Homes, Inc. (NYSE:TPH) was the target of a significant decline in short interest in 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. Currently, 3.4% of the shares of the company are sold short. Based on an average trading volume of 944,100 shares, the short-interest ratio is currently 3.2 days.

Tri Pointe Homes Trading Up 0.2 %

NYSE TPH traded up $0.07 on Tuesday, hitting $31.35. 900,633 shares of the stock were exchanged, 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 stock has a fifty day moving average price of $34.57 and a two-hundred day moving average price of $39.34. The firm has a market capitalization of $2.88 billion, a P/E ratio of 6.49, a P/E/G ratio of 0.67 and a beta of 1.71. Tri Pointe Homes has a 52-week low of $30.25 and a 52-week high of $47.78.

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

Tri Pointe Homes announced that its board has approved a stock buyback program on Wednesday, December 18th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the construction company to reacquire up to 7.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

Several analysts have recently issued reports on TPH shares. StockNews.com lowered shares of Tri Pointe Homes from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Oppenheimer cut their price objective on shares of Tri Pointe Homes from $53.00 to $43.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. Evercore ISI lowered their price target on shares of Tri Pointe Homes from $54.00 to $42.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. 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. Finally, Royal Bank of Canada lowered shares of Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $41.00 to $37.00 in a report on Wednesday, February 19th. Four equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Tri Pointe Homes has a consensus rating of “Moderate Buy” and an average target price of $40.60.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Covestor Ltd increased its stake in shares of Tri Pointe Homes by 58.5% in the 4th quarter. Covestor Ltd now owns 908 shares of the construction company’s stock worth $33,000 after acquiring an additional 335 shares during the last quarter. Smartleaf Asset Management LLC raised its position in Tri Pointe Homes by 84.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,339 shares of the construction company’s stock valued at $49,000 after purchasing an additional 613 shares in the last quarter. Assetmark Inc. raised its position in Tri Pointe Homes by 19.6% in the 4th quarter. Assetmark Inc. now owns 1,827 shares of the construction company’s stock valued at $66,000 after purchasing an additional 300 shares in the last quarter. Sterling Capital Management LLC raised its position in Tri Pointe Homes by 729.5% in the 4th quarter. Sterling Capital Management LLC now owns 2,082 shares of the construction company’s stock valued at $75,000 after purchasing an additional 1,831 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its position in shares of Tri Pointe Homes by 562.1% during the 4th quarter. Venturi Wealth Management LLC now owns 2,238 shares of the construction company’s stock worth $81,000 after acquiring an additional 1,900 shares in the last quarter. 97.01% of the stock is 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.