Taylor Morrison Home (NYSE:TMHC) Sets New 12-Month High – Here’s What Happened

Taylor Morrison Home Co. (NYSE:TMHC)’s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $75.00 and last traded at $74.90, with a volume of 232984 shares traded. The stock had previously closed at $71.08.

Wall Street Analyst Weigh In

A number of research firms recently commented on TMHC. BTIG Research boosted their price target on Taylor Morrison Home from $78.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Zelman & Associates raised shares of Taylor Morrison Home from a “neutral” rating to an “outperform” rating in a report on Monday, August 12th. Royal Bank of Canada raised their target price on shares of Taylor Morrison Home from $74.00 to $77.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Wedbush upgraded shares of Taylor Morrison Home from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $65.00 to $85.00 in a research note on Friday, October 25th. Finally, Barclays raised their price objective on Taylor Morrison Home from $72.00 to $75.00 and gave the company an “equal weight” rating in a research report on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Taylor Morrison Home has an average rating of “Moderate Buy” and a consensus target price of $77.33.

Taylor Morrison Home Trading Down 0.2 %

The company has a 50-day moving average of $69.65 and a 200 day moving average of $63.87. 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 company has a market cap of $7.66 billion, a PE ratio of 9.80 and a beta of 1.96.

Taylor Morrison Home (NYSE:TMHC) last announced its earnings results on Wednesday, October 23rd. The construction company reported $2.37 EPS for the quarter, topping analysts’ consensus estimates of $2.06 by $0.31. Taylor Morrison Home had a return on equity of 15.91% and a net margin of 10.39%. The firm had revenue of $2.12 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same quarter in the previous year, the business earned $1.62 EPS. The company’s quarterly revenue was up 26.6% on a year-over-year basis. Analysts predict that Taylor Morrison Home Co. will post 8.44 earnings per share for the current year.

Insider Buying and Selling at Taylor Morrison Home

In other Taylor Morrison Home news, Director William H. Lyon sold 24,284 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $74.46, for a total value of $1,808,186.64. Following the sale, the director now owns 2,045,316 shares in the company, valued at $152,294,229.36. This trade represents a 1.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Darrell Sherman sold 26,757 shares of the business’s stock in a transaction 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 directly owns 109,217 shares of the company’s stock, valued at $7,645,190. This represents a 19.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 128,621 shares of company stock worth $9,164,869 over the last quarter. Insiders own 3.50% of the company’s stock.

Institutional Trading of Taylor Morrison Home

A number of large investors have recently modified their holdings of the company. Wedge Capital Management L L P NC lifted its stake in Taylor Morrison Home by 1,910.4% in the second quarter. Wedge Capital Management L L P NC now owns 727,919 shares of the construction company’s stock worth $40,356,000 after acquiring an additional 691,711 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of Taylor Morrison Home by 271.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 896,032 shares of the construction company’s stock worth $62,955,000 after purchasing an additional 654,541 shares during the period. Vision Capital Corp bought a new position in shares of Taylor Morrison Home during the third quarter valued at approximately $38,173,000. Charles Schwab Investment Management Inc. increased its holdings in Taylor Morrison Home by 26.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,362,020 shares of the construction company’s stock valued at $95,696,000 after buying an additional 282,227 shares during the period. Finally, Barclays PLC raised its stake in Taylor Morrison Home by 66.4% in the third quarter. Barclays PLC now owns 420,419 shares of the construction company’s stock worth $29,539,000 after buying an additional 167,735 shares in the last quarter. Hedge funds and other institutional investors own 95.16% of the company’s stock.

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.