Short Interest in Tri Pointe Homes, Inc. (NYSE:TPH) Drops By 55.0%

Tri Pointe Homes, Inc. (NYSE:TPH - Get Free Report) saw a significant decline in short interest during the month of March. As of March 31st, there was short interest totalling 1,970,000 shares, a decline of 55.0% from the March 15th total of 4,380,000 shares. Approximately 2.1% of the company's shares are short sold. Based on an average trading volume of 1,090,000 shares, the days-to-cover ratio is currently 1.8 days.

Insider Transactions at Tri Pointe Homes

In related news, COO Thomas J. Mitchell sold 51,533 shares of the firm's stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $35.22, for a total value of $1,814,992.26. Following the transaction, the chief operating officer now owns 785,543 shares in the company, valued at $27,666,824.46. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tri Pointe Homes

Institutional investors and hedge funds have recently modified their holdings of the business. Ronald Blue Trust Inc. lifted its stake in Tri Pointe Homes by 168.1% in the third quarter. Ronald Blue Trust Inc. now owns 1,016 shares of the construction company's stock valued at $28,000 after buying an additional 637 shares in the last quarter. Daiwa Securities Group Inc. acquired a new stake in shares of Tri Pointe Homes during the fourth quarter worth $35,000. Evermay Wealth Management LLC acquired a new stake in shares of Tri Pointe Homes during the fourth quarter worth $35,000. GAMMA Investing LLC bought a new stake in Tri Pointe Homes in the 4th quarter valued at $41,000. Finally, Assetmark Inc. boosted its stake in Tri Pointe Homes by 29,825.0% in the 4th quarter. Assetmark Inc. now owns 1,197 shares of the construction company's stock worth $42,000 after purchasing an additional 1,193 shares during the period. 97.01% of the stock is currently owned by institutional investors and hedge funds.

Tri Pointe Homes Trading Up 2.2 %

Shares of TPH stock traded up $0.78 on Thursday, hitting $36.47. The stock had a trading volume of 755,450 shares, compared to its average volume of 1,062,008. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 0.46. Tri Pointe Homes has a twelve month low of $24.18 and a twelve month high of $39.08. The company has a fifty day moving average price of $35.61 and a two-hundred day moving average price of $32.26. The firm has a market cap of $3.48 billion, a P/E ratio of 10.57, a PEG ratio of 0.78 and a beta of 1.54.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last posted its earnings results on Tuesday, February 20th. The construction company reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.24. Tri Pointe Homes had a return on equity of 11.75% and a net margin of 9.37%. The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same period in the previous year, the company posted $1.98 earnings per share. The company's revenue for the quarter was down 17.5% on a year-over-year basis. As a group, analysts forecast that Tri Pointe Homes will post 3.65 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have commented on TPH shares. Wedbush reiterated a "neutral" rating and set a $32.00 target price on shares of Tri Pointe Homes in a research report on Tuesday, February 20th. Oppenheimer reiterated an "outperform" rating and issued a $41.00 price objective (up previously from $36.00) on shares of Tri Pointe Homes in a report on Wednesday, February 21st. Finally, Royal Bank of Canada upgraded Tri Pointe Homes from a "sector perform" rating to an "outperform" rating and set a $38.00 target price on the stock in a report on Wednesday, March 13th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $38.20.

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.