Taylor Morrison Home (NYSE:TMHC) Hits New 52-Week High – What’s Next?

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

Analyst Upgrades and Downgrades

TMHC has been the subject of a number of recent research reports. Royal Bank of Canada increased their price objective on Taylor Morrison Home from $74.00 to $77.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Raymond James reissued an “outperform” rating and issued a $84.00 price target (up previously from $81.00) on shares of Taylor Morrison Home in a research note on Tuesday, October 29th. Zelman & Associates raised Taylor Morrison Home from a “neutral” rating to an “outperform” rating in a research note on Monday, August 12th. BTIG Research increased their target price 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. Finally, Barclays boosted their price target on shares of Taylor Morrison Home from $72.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 24th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $77.33.

Taylor Morrison Home Stock Performance

The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.69 and a current ratio of 6.24. The company’s 50 day moving average price is $69.45 and its 200-day moving average price is $63.66. The stock has a market cap of $7.74 billion, a P/E ratio of 9.99 and a beta of 1.96.

Taylor Morrison Home (NYSE:TMHC) last released its earnings results on Wednesday, October 23rd. The construction company reported $2.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.31. The company had revenue of $2.12 billion during 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 quarterly revenue was up 26.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.62 earnings per share. Equities analysts forecast that Taylor Morrison Home Co. will post 8.44 EPS for the current fiscal year.

Insider Buying and Selling

In other Taylor Morrison Home news, EVP Darrell Sherman sold 26,757 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $70.00, for a total value of $1,872,990.00. Following the completion of the transaction, the executive vice president now owns 109,217 shares in the company, valued at $7,645,190. This trade represents a 19.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William H. Lyon sold 9,075 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $72.08, for a total transaction of $654,126.00. Following the completion of the transaction, the director now owns 2,136,241 shares of the company’s stock, valued at $153,980,251.28. This trade represents a 0.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 104,337 shares of company stock valued at $7,356,683. 3.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Taylor Morrison Home

Large investors have recently added to or reduced their stakes in the business. Wedge Capital Management L L P NC grew its stake in Taylor Morrison Home by 1,910.4% in the 2nd quarter. Wedge Capital Management L L P NC now owns 727,919 shares of the construction company’s stock worth $40,356,000 after buying an additional 691,711 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Taylor Morrison Home by 271.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 896,032 shares of the construction company’s stock worth $62,955,000 after acquiring an additional 654,541 shares during the last quarter. Vision Capital Corp purchased a new position in shares of Taylor Morrison Home in the 3rd quarter worth about $38,173,000. Charles Schwab Investment Management Inc. increased its position in shares of Taylor Morrison Home by 26.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,362,020 shares of the construction company’s stock valued at $95,696,000 after purchasing an additional 282,227 shares during the last quarter. Finally, Barclays PLC raised its holdings in shares of Taylor Morrison Home by 66.4% during the 3rd quarter. Barclays PLC now owns 420,419 shares of the construction company’s stock valued at $29,539,000 after buying an additional 167,735 shares in the last quarter. Institutional investors own 95.16% of the company’s stock.

Taylor Morrison Home Company Profile

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.