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

Tri Pointe Homes, Inc. (NYSE:TPH - Get Free Report) was the recipient of a significant growth in short interest during the month of October. As of October 15th, there was short interest totalling 2,510,000 shares, a growth of 26.1% from the September 30th total of 1,990,000 shares. Currently, 2.8% of the company's shares are sold short. Based on an average daily trading volume, of 779,500 shares, the days-to-cover ratio is presently 3.2 days.

Tri Pointe Homes Stock Up 2.9 %

Shares of TPH stock traded up $1.16 during trading hours on Monday, hitting $41.44. 1,177,545 shares of the company's stock traded hands, compared to its average volume of 905,975. The stock's fifty day simple moving average is $43.98 and its two-hundred day simple moving average is $40.89. Tri Pointe Homes has a 12-month low of $24.46 and a 12-month high of $47.78. The stock has a market cap of $3.88 billion, a price-to-earnings ratio of 8.36, a PEG ratio of 0.66 and a beta of 1.59. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.28.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last released its earnings results on Thursday, October 24th. The construction company reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.11. Tri Pointe Homes had a net margin of 10.41% and a return on equity of 14.83%. The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same period last year, the business earned $0.76 earnings per share. The business's revenue was up 34.9% on a year-over-year basis. On average, analysts expect that Tri Pointe Homes will post 4.68 EPS for the current year.

Analyst Ratings Changes

TPH has been the topic of several recent analyst reports. Evercore ISI raised Tri Pointe Homes to a "strong-buy" rating in a research note on Friday, July 26th. Wedbush reissued a "neutral" rating and issued a $42.00 target price on shares of Tri Pointe Homes in a research note on Thursday. Zelman & Associates raised Tri Pointe Homes from an "underperform" rating to a "neutral" rating and set a $43.00 target price on the stock in a research note on Tuesday, September 17th. Oppenheimer lowered their price objective on shares of Tri Pointe Homes from $56.00 to $53.00 and set an "outperform" rating for the company in a report on Friday. Finally, Royal Bank of Canada lowered their price objective on shares of Tri Pointe Homes from $48.00 to $45.00 and set an "outperform" rating for the company in a report on Friday. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Tri Pointe Homes presently has a consensus rating of "Moderate Buy" and an average price target of $45.75.

Insider Activity

In other news, General Counsel David Ch Lee sold 5,000 shares of the firm's stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $44.28, for a total transaction of $221,400.00. Following the transaction, the general counsel now directly owns 85,792 shares of the company's stock, valued at approximately $3,798,869.76. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.50% of the company's stock.

Hedge Funds Weigh In On Tri Pointe Homes

Several large investors have recently made changes to their positions in TPH. Fidelis Capital Partners LLC purchased a new position in Tri Pointe Homes in the 1st quarter worth approximately $25,000. Gradient Investments LLC purchased a new position in Tri Pointe Homes in the 2nd quarter worth approximately $30,000. Reston Wealth Management LLC purchased a new position in Tri Pointe Homes in the 3rd quarter worth approximately $45,000. GAMMA Investing LLC grew its position in Tri Pointe Homes by 63.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,520 shares of the construction company's stock worth $57,000 after purchasing an additional 588 shares during the period. Finally, Blue Trust Inc. grew its position in Tri Pointe Homes by 31.7% in the 2nd quarter. Blue Trust Inc. now owns 1,774 shares of the construction company's stock worth $69,000 after purchasing an additional 427 shares during the period. 97.01% of the stock is currently owned by hedge funds and other institutional investors.

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.