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

Tri Pointe Homes, Inc. (NYSE:TPH - Get Free Report) was the recipient of a significant drop in short interest in May. As of May 15th, there was short interest totalling 2,980,000 shares, a drop of 15.1% from the April 30th total of 3,510,000 shares. Based on an average daily volume of 1,140,000 shares, the days-to-cover ratio is presently 2.6 days. Currently, 3.4% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on TPH shares. Wedbush upgraded shares of Tri Pointe Homes from a "neutral" rating to an "outperform" rating and boosted their target price for the stock from $38.00 to $43.00 in a report on Monday, April 28th. Seaport Res Ptn upgraded shares of Tri Pointe Homes from a "hold" rating to a "strong-buy" rating in a report on Thursday, March 6th. Evercore ISI reduced their target price 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. Royal Bank of Canada downgraded shares of Tri Pointe Homes from an "outperform" rating to a "sector perform" rating and reduced their target price for the stock from $41.00 to $37.00 in a report on Wednesday, February 19th. Finally, Oppenheimer cut their price objective on shares of Tri Pointe Homes from $53.00 to $43.00 and set an "outperform" rating on the stock in a report on Wednesday, February 19th. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Tri Pointe Homes has a consensus rating of "Moderate Buy" and a consensus target price of $41.60.

Insider Activity at Tri Pointe Homes

In other Tri Pointe Homes news, CEO Douglas F. Bauer sold 120,287 shares of Tri Pointe Homes stock in a transaction on Monday, April 28th. The shares were sold at an average price of $30.15, for a total transaction of $3,626,653.05. Following the completion of the transaction, the chief executive officer now directly owns 627,833 shares of the company's stock, valued at $18,929,164.95. The trade was a 16.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tri Pointe Homes

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in Tri Pointe Homes by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 11,573,813 shares of the construction company's stock valued at $419,666,000 after buying an additional 143,365 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Tri Pointe Homes by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 2,529,823 shares of the construction company's stock worth $91,748,000 after purchasing an additional 44,160 shares during the last quarter. American Century Companies Inc. grew its holdings in Tri Pointe Homes by 13.5% during the first quarter. American Century Companies Inc. now owns 2,209,166 shares of the construction company's stock worth $70,517,000 after acquiring an additional 262,695 shares during the period. GW&K Investment Management LLC grew its holdings in Tri Pointe Homes by 5.3% during the fourth 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 during the period. Finally, LSV Asset Management grew its holdings in Tri Pointe Homes by 4.8% during the first quarter. LSV Asset Management now owns 1,762,922 shares of the construction company's stock worth $56,272,000 after acquiring an additional 80,198 shares during the period. 97.01% of the stock is owned by institutional investors and hedge funds.

Tri Pointe Homes Trading Down 1.3%

Shares of NYSE TPH traded down $0.38 during trading on Friday, hitting $30.02. 1,092,235 shares of the company were exchanged, compared to its average volume of 911,400. Tri Pointe Homes has a 12-month low of $27.90 and a 12-month high of $47.78. 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 company has a fifty day moving average price of $30.45 and a 200-day moving average price of $34.15. The firm has a market capitalization of $2.72 billion, a PE ratio of 6.21, a P/E/G ratio of 0.67 and a beta of 1.24.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The construction company reported $0.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.45 by $0.25. The firm had revenue of $720.79 million during the quarter, compared to the consensus estimate of $713.65 million. Tri Pointe Homes had a return on equity of 14.34% and a net margin of 10.36%. The company's quarterly revenue was down 21.5% on a year-over-year basis. During the same period last year, the company earned $1.03 EPS. As a group, equities research analysts expect that Tri Pointe Homes will post 3.58 EPS for the current year.

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.