Taylor Morrison Home (NYSE:TMHC) trades up 1.5% on insider buying activity
Taylor Morrison Home Co. (NYSE: TMHC – Get a rating) shares rose 1.5% in Friday’s session on insider buying activity. The company traded as high as $23.73 and last traded at $23.63. About 11,755 shares changed hands during the midday session, a 99% drop from the average daily volume of 921,122 shares. The stock had previously closed at $23.27. Specifically, CFO Louis Steffens purchased 11,000 shares of the company in a trade that took place on Wednesday, September 14. The shares were purchased at an average price of $23.07 per share, with a total value of $253,770.00. Following the completion of the transaction, the CFO now owns 44,667 shares of the company, valued at approximately $1,030,467.69. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available via the SEC website. 5.20% of the shares are currently held by insiders of the company.
Analyst upgrades and downgrades
A number of equity research analysts have weighed in on the stock recently. JPMorgan Chase & Co. lowered its price target on Taylor Morrison Home shares from $35.00 to $30.00 and set an “overweight” rating for the company in a Tuesday, July 12 report. StockNews.com moved shares of Taylor Morrison Home from a “hold” rating to a “buy” rating in a Thursday, July 28, report. B. Riley downgraded Taylor Morrison Home shares from a “buy” rating to a “neutral” rating and reduced his price target for the company from $36.00 to $28.00 in a research note from the Thursday, June 16. Wells Fargo & Company raised its price target on Taylor Morrison Home shares from $25.00 to $30.00 and gave the company an “equal weight” rating in a Thursday, July 28 research note. Finally, Credit Suisse Group upgraded Taylor Morrison Home shares from a “neutral” rating to an “outperforming” rating and set a price target of $33.00 on the stock in a Monday research note. 11 July. Four research analysts gave the stock a hold rating and four gave the stock a buy rating. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $31.14.
Taylor Morrison Home Stock Performance
The stock has a market capitalization of $2.73 billion, a price-earnings ratio of 3.14 and a beta of 1.76. The company has a debt ratio of 0.70, a quick ratio of 0.54 and a current ratio of 5.18. The company’s 50-day simple moving average is $26.51 and its 200-day simple moving average is $27.09.
Taylor Morrison Home (NYSE: TMHC – Get a rating) last reported quarterly earnings data on Wednesday, July 27. The construction company reported earnings per share (EPS) of $2.27 for the quarter, beating the consensus estimate of $1.82 by $0.45. The company posted revenue of $2 billion for the quarter, versus $2.01 billion expected by analysts. Taylor Morrison Home had a net margin of 11.27% and a return on equity of 22.19%. The company’s revenues increased by 16.0% compared to the same quarter last year. In the same quarter a year earlier, the company posted EPS of $0.95. On average, stock research analysts expect Taylor Morrison Home Co. to post earnings per share of 9.73 for the current year.
Institutional entries and exits
Several hedge funds and other institutional investors have recently changed their positions in TMHC. The Teacher Retirement System of Texas increased its holdings of Taylor Morrison Home stock by 16.0% during the fourth quarter. Teacher Retirement System of Texas now owns 24,104 shares of the construction company worth $843,000 after purchasing 3,327 additional shares during the period. Qube Research & Technologies Ltd bought a new position in Taylor Morrison Home during the fourth quarter worth $406,000. JPMorgan Chase & Co. increased its position in Taylor Morrison Home by 22.4% during the fourth quarter. JPMorgan Chase & Co. now owns 664,356 shares of the construction company worth $23,226,000 after acquiring an additional 121,391 shares during the period. Covestor Ltd bought a new position in Taylor Morrison Home during the fourth quarter worth $54,000. Finally, Candriam Luxembourg SCA acquired a new stake in Taylor Morrison Home in the 4th quarter for a value of $1,622,000. 95.05% of the shares are currently held by institutional investors and hedge funds.
Taylor Morrison Home Company Profile
Taylor Morrison Home Corporation, together with its subsidiaries, operates as a public home builder in the United States. The company designs, builds and sells single and multi-family, single and semi-detached houses; and develops lifestyle and planned communities. It also develops and builds mixed-use properties consisting of commercial spaces, retail and multi-family properties under the Urban Form brand; and provides title insurance and closing settlement services, as well as financial services.
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