Taylor Morrison Home (NYSE:TMHC) Reaches New 1-Year High – Here’s What Happened

Shares of Taylor Morrison Home Co. (NYSE:TMHC) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $71.97 and last traded at $71.79, with a volume of 32467 shares trading hands. The stock had previously closed at $70.66.

Analyst Upgrades and Downgrades

Several analysts have issued reports on TMHC shares. Wedbush raised Taylor Morrison Home from a “neutral” rating to an “outperform” rating and increased their target price for the company from $65.00 to $85.00 in a research report on Friday, October 25th. Zelman & Associates raised Taylor Morrison Home from a “neutral” rating to an “outperform” rating in a research report on Monday, August 12th. BTIG Research increased their price target on shares of Taylor Morrison Home from $78.00 to $86.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. StockNews.com upgraded shares of Taylor Morrison Home from a “hold” rating to a “buy” rating in a report on Thursday, October 24th. Finally, Barclays boosted their price objective on shares of Taylor Morrison Home from $72.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $77.33.

Taylor Morrison Home Stock Up 0.8 %

The stock has a market capitalization of $7.37 billion, a PE ratio of 9.35 and a beta of 1.96. The company has a debt-to-equity ratio of 0.37, a current ratio of 6.24 and a quick ratio of 0.69. The business’s fifty day moving average price is $68.22 and its two-hundred day moving average price is $62.48.

Taylor Morrison Home (NYSE:TMHC) last issued its earnings results on Wednesday, October 23rd. The construction company reported $2.37 EPS for the quarter, beating analysts’ consensus estimates of $2.06 by $0.31. The firm had revenue of $2.12 billion for the quarter, compared to analyst estimates of $1.96 billion. Taylor Morrison Home had a return on equity of 15.91% and a net margin of 10.39%. Taylor Morrison Home’s revenue for the quarter was up 26.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.62 earnings per share. On average, equities research analysts forecast that Taylor Morrison Home Co. will post 8.43 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Darrell Sherman sold 26,757 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $70.00, for a total transaction of $1,872,990.00. Following the sale, the executive vice president now owns 109,217 shares of the company’s stock, valued at $7,645,190. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders have sold 95,262 shares of company stock valued at $6,702,557. Company insiders own 3.50% of the company’s stock.

Institutional Trading of Taylor Morrison Home

Several institutional investors have recently bought and sold shares of the business. Daiwa Securities Group Inc. lifted its position in shares of Taylor Morrison Home by 644.4% during the 1st quarter. Daiwa Securities Group Inc. now owns 6,700 shares of the construction company’s stock valued at $417,000 after buying an additional 5,800 shares in the last quarter. Texas Permanent School Fund Corp increased its stake in shares of Taylor Morrison Home by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 94,038 shares of the construction company’s stock worth $5,846,000 after purchasing an additional 1,218 shares in the last quarter. Manchester Capital Management LLC boosted its holdings in Taylor Morrison Home by 1,382.8% in the 1st quarter. Manchester Capital Management LLC now owns 3,025 shares of the construction company’s stock worth $188,000 after buying an additional 2,821 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of Taylor Morrison Home by 173.0% during the first quarter. SG Americas Securities LLC now owns 18,828 shares of the construction company’s stock valued at $1,171,000 after acquiring an additional 11,931 shares during the last quarter. Finally, Oppenheimer & Co. Inc. lifted its position in shares of Taylor Morrison Home by 27.7% in the first quarter. Oppenheimer & Co. Inc. now owns 37,213 shares of the construction company’s stock valued at $2,314,000 after acquiring an additional 8,068 shares in the last quarter. 95.16% of the stock is owned by institutional investors and hedge funds.

About Taylor Morrison Home

Taylor Morrison Home Corporation, together with its subsidiaries, operates as a public homebuilder in the United States. The company designs, builds, and sells single and multi-family detached and attached homes; and develops lifestyle and master-planned communities. It develops and constructs multi-use properties consisting of commercial space, retail, and multi-family properties under the Urban Form brand name.