Taylor Morrison Home (NYSE:TMHC) Sees Unusually-High Trading Volume – Here’s What Happened

Taylor Morrison Home Corporation (NYSE:TMHC) shares saw strong trading volume on Tuesday . 1,121,989 shares changed hands during mid-day trading, a decline of 32% from the previous session’s volume of 1,638,032 shares.The stock last traded at $71.5350 and had previously closed at $71.44.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Weiss Ratings lowered shares of Taylor Morrison Home from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, April 24th. Barclays upped their price objective on shares of Taylor Morrison Home from $68.00 to $69.00 and gave the stock an “overweight” rating in a report on Thursday, April 23rd. Truist Financial decreased their price objective on shares of Taylor Morrison Home from $80.00 to $72.50 and set a “buy” rating on the stock in a report on Monday, June 1st. Royal Bank Of Canada lowered shares of Taylor Morrison Home from an “outperform” rating to a “sector perform” rating and upped their price objective for the stock from $69.00 to $72.50 in a report on Tuesday, June 2nd. Finally, Zacks Research upgraded shares of Taylor Morrison Home from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 22nd. Three analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $76.86.

Taylor Morrison Home Stock Performance

The company has a market capitalization of $6.69 billion, a price-to-earnings ratio of 10.68, a price-to-earnings-growth ratio of 1.65 and a beta of 1.47. The company has a current ratio of 7.66, a quick ratio of 1.45 and a debt-to-equity ratio of 0.37. The stock’s fifty day simple moving average is $61.21 and its 200-day simple moving average is $61.85.

Taylor Morrison Home (NYSE:TMHC) last released its earnings results on Wednesday, April 22nd. The construction company reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.30. The company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.33 billion. Taylor Morrison Home had a net margin of 8.77% and a return on equity of 11.48%. The firm’s quarterly revenue was down 26.8% on a year-over-year basis. During the same period in the prior year, the business earned $2.07 EPS. Analysts predict that Taylor Morrison Home Corporation will post 5.36 EPS for the current year.

Institutional Investors Weigh In On Taylor Morrison Home

Hedge funds have recently added to or reduced their stakes in the business. Miller Capital Partners Inc. acquired a new stake in Taylor Morrison Home during the 4th quarter worth approximately $27,000. Pinnacle Holdings LLC acquired a new stake in Taylor Morrison Home during the 3rd quarter worth approximately $32,000. Brown Brothers Harriman & Co. acquired a new stake in Taylor Morrison Home during the 4th quarter worth approximately $33,000. Root Financial Partners LLC lifted its holdings in Taylor Morrison Home by 65.7% during the 1st quarter. Root Financial Partners LLC now owns 638 shares of the construction company’s stock worth $37,000 after buying an additional 253 shares in the last quarter. Finally, Huntington National Bank lifted its holdings in Taylor Morrison Home by 2,074.1% during the 3rd quarter. Huntington National Bank now owns 587 shares of the construction company’s stock worth $39,000 after buying an additional 560 shares in the last quarter. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Taylor Morrison Home Company Profile

Taylor Morrison Home Corporation (NYSE:TMHC) is a leading national homebuilder and developer specializing in the design, construction and sale of single-family detached and attached homes. The company’s portfolio spans entry-level, first-time, move-up and active-adult segments, offering buyers a diverse array of architectural styles, floor plans and personalized design options. Through its vertically integrated model, Taylor Morrison manages land acquisition, community development, construction and sales to deliver quality homes and customer-focused experiences across its markets.

The company’s heritage traces back to Morrison Homes, founded in 1977, and Taylor Woodrow, established in 1921 in the United Kingdom.