TRI Pointe Group Inc (NYSE:TPH) Sees Large Increase in Short Interest

TRI Pointe Group Inc (NYSE:TPH) was the recipient of a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 15,710,000 shares, a growth of 6.4% from the September 30th total of 14,760,000 shares. Based on an average daily trading volume, of 1,780,000 shares, the days-to-cover ratio is presently 8.8 days. Approximately 11.5% of the company’s shares are sold short.

A number of hedge funds and other institutional investors have recently modified their holdings of TPH. BlackRock Inc. boosted its position in shares of TRI Pointe Group by 0.5% during the 2nd quarter. BlackRock Inc. now owns 17,811,761 shares of the construction company’s stock worth $213,207,000 after acquiring an additional 89,434 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of TRI Pointe Group by 0.8% during the 2nd quarter. Vanguard Group Inc. now owns 13,434,318 shares of the construction company’s stock worth $160,810,000 after acquiring an additional 108,904 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of TRI Pointe Group by 85.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 5,542,605 shares of the construction company’s stock worth $64,959,000 after acquiring an additional 2,550,361 shares in the last quarter. Northern Trust Corp boosted its position in shares of TRI Pointe Group by 0.9% during the 2nd quarter. Northern Trust Corp now owns 3,570,226 shares of the construction company’s stock worth $42,736,000 after acquiring an additional 33,161 shares in the last quarter. Finally, Echo Street Capital Management LLC acquired a new position in shares of TRI Pointe Group during the 2nd quarter worth about $40,899,000.

Several equities research analysts recently issued reports on the company. Zacks Investment Research upgraded TRI Pointe Group from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a report on Friday, October 18th. TheStreet upgraded TRI Pointe Group from a “c+” rating to a “b” rating in a report on Wednesday, September 18th. JMP Securities downgraded TRI Pointe Group from an “outperform” rating to a “market perform” rating in a report on Friday, November 1st. They noted that the move was a valuation call. Royal Bank of Canada set a $18.00 price objective on TRI Pointe Group and gave the company a “buy” rating in a report on Friday, November 1st. Finally, ValuEngine upgraded TRI Pointe Group from a “sell” rating to a “hold” rating in a report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. TRI Pointe Group currently has a consensus rating of “Hold” and an average price target of $15.50.

NYSE TPH traded down $0.20 during trading hours on Friday, hitting $15.34. 990,889 shares of the company were exchanged, compared to its average volume of 2,334,922. The company has a 50 day moving average of $15.28 and a two-hundred day moving average of $13.73. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.68. TRI Pointe Group has a 52-week low of $10.37 and a 52-week high of $16.33. The firm has a market cap of $2.16 billion, a price-to-earnings ratio of 8.07, a PEG ratio of 1.08 and a beta of 1.14.

TRI Pointe Group (NYSE:TPH) last issued its quarterly earnings results on Thursday, October 31st. The construction company reported $0.44 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.08. TRI Pointe Group had a return on equity of 9.72% and a net margin of 6.14%. The company had revenue of $746.27 million for the quarter, compared to the consensus estimate of $687.49 million. During the same quarter in the prior year, the business earned $0.43 EPS. TRI Pointe Group’s revenue was down 3.3% on a year-over-year basis. On average, equities research analysts predict that TRI Pointe Group will post 1.31 EPS for the current year.

TRI Pointe Group Company Profile

TRI Pointe Group, Inc engages in the design, construction, and sale of single-family detached and attached homes in the United States. It operates a portfolio of 6 brands across 10 states, including Maracay in Arizona; Pardee Homes in California and Nevada; Quadrant Homes in Washington; Trendmaker Homes in Texas; TRI Pointe Homes in California, Colorado, and Colorado; and Winchester Homes in Maryland and Virginia.

Further Reading: Depreciation

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