Shares of Taylor Morrison Home Co. (NYSE:TMHC – Get Rating) were up 1.5% during mid-day trading on Friday following insider buying activity. The company traded as high as $23.73 and last traded at $23.63. Approximately 11,755 shares traded hands during trading, a decline of 99% from the average daily volume of 921,122 shares. The stock had previously closed at $23.27.
Specifically, CFO Louis Steffens bought 11,000 shares of the firm's stock in a transaction that occurred on Wednesday, September 14th. The shares were purchased at an average price of $23.07 per share, with a total value of $253,770.00. Following the purchase, the chief financial officer now owns 44,667 shares in the company, valued at $1,030,467.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.20% of the stock is owned by corporate insiders.
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Analysts Set New Price Targets
Several equities analysts recently issued reports on TMHC shares. B. Riley lowered Taylor Morrison Home from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $36.00 to $28.00 in a research note on Thursday, June 16th. Wells Fargo & Company upped their price target on Taylor Morrison Home from $25.00 to $30.00 and gave the stock an "equal weight" rating in a report on Thursday, July 28th. Credit Suisse Group upgraded Taylor Morrison Home from a "neutral" rating to an "outperform" rating and set a $33.00 price target on the stock in a report on Monday, July 11th. StockNews.com upgraded Taylor Morrison Home from a "hold" rating to a "buy" rating in a report on Thursday, July 28th. Finally, JPMorgan Chase & Co. cut their price target on Taylor Morrison Home from $35.00 to $30.00 and set an "overweight" rating on the stock in a report on Tuesday, July 12th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Taylor Morrison Home presently has a consensus rating of "Moderate Buy" and a consensus price target of $31.14.
Taylor Morrison Home Trading Up 3.7 %
The firm has a market cap of $2.74 billion, a PE ratio of 3.25 and a beta of 1.76. The company has a current ratio of 5.18, a quick ratio of 0.54 and a debt-to-equity ratio of 0.70. The business has a fifty day moving average price of $26.48 and a 200 day moving average price of $27.05.
Taylor Morrison Home (NYSE:TMHC – Get Rating) last released its quarterly earnings data on Wednesday, July 27th. The construction company reported $2.27 EPS for the quarter, beating analysts' consensus estimates of $1.82 by $0.45. Taylor Morrison Home had a return on equity of 22.19% and a net margin of 11.27%. The business had revenue of $2 billion for the quarter, compared to the consensus estimate of $2.01 billion. During the same quarter in the prior year, the business posted $0.95 EPS. The business's revenue for the quarter was up 16.0% on a year-over-year basis. Analysts forecast that Taylor Morrison Home Co. will post 9.73 EPS for the current year.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in the company. Camden Capital LLC grew its stake in Taylor Morrison Home by 4.6% during the 4th quarter. Camden Capital LLC now owns 8,307 shares of the construction company's stock worth $290,000 after buying an additional 363 shares during the last quarter. Xponance Inc. lifted its position in Taylor Morrison Home by 2.9% during the 2nd quarter. Xponance Inc. now owns 18,333 shares of the construction company's stock worth $428,000 after acquiring an additional 523 shares during the period. Centaurus Financial Inc. lifted its position in Taylor Morrison Home by 1.7% during the 1st quarter. Centaurus Financial Inc. now owns 32,004 shares of the construction company's stock worth $871,000 after acquiring an additional 542 shares during the period. Beck Capital Management LLC lifted its position in Taylor Morrison Home by 1.2% during the 1st quarter. Beck Capital Management LLC now owns 47,914 shares of the construction company's stock worth $1,304,000 after acquiring an additional 557 shares during the period. Finally, Victory Capital Management Inc. lifted its position in Taylor Morrison Home by 0.7% during the 2nd quarter. Victory Capital Management Inc. now owns 83,909 shares of the construction company's stock worth $1,960,000 after acquiring an additional 573 shares during the period. Hedge funds and other institutional investors own 95.05% of the company's stock.
Taylor Morrison Home Company Profile
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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 also develops and constructs multi-use properties consisting of commercial space, retail, and multi-family properties under the Urban Form brand name; and offers title insurance and closing settlement services, as well as financial services.
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