Taylor Morrison Home Co. (NYSE:TMHC – Get Rating) CFO Louis Steffens purchased 11,000 shares of the company's stock in a transaction on Wednesday, September 14th. The shares were bought at an average price of $23.07 per share, for a total transaction of $253,770.00. Following the completion of the transaction, the chief financial officer now directly owns 44,667 shares in the company, valued at approximately $1,030,467.69. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Taylor Morrison Home Stock Performance
Taylor Morrison Home stock opened at $24.13 on Friday. The firm's 50 day simple moving average is $26.48 and its 200-day simple moving average is $27.01. The company has a market cap of $2.74 billion, a P/E ratio of 3.25 and a beta of 1.76. The company has a debt-to-equity ratio of 0.70, a current ratio of 5.18 and a quick ratio of 0.54. Taylor Morrison Home Co. has a fifty-two week low of $20.05 and a fifty-two week high of $35.51.
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Taylor Morrison Home (NYSE:TMHC – Get Rating) last released its earnings results on Wednesday, July 27th. The construction company reported $2.27 earnings per share for the quarter, topping the consensus estimate of $1.82 by $0.45. The business had revenue of $2 billion for the quarter, compared to the consensus estimate of $2.01 billion. Taylor Morrison Home had a net margin of 11.27% and a return on equity of 22.19%. The firm's quarterly revenue was up 16.0% compared to the same quarter last year. During the same period last year, the firm posted $0.95 earnings per share. As a group, equities research analysts predict that Taylor Morrison Home Co. will post 9.73 EPS for the current year.
Wall Street Analyst Weigh In
TMHC has been the topic of a number of research reports. Credit Suisse Group upgraded shares of Taylor Morrison Home from a "neutral" rating to an "outperform" rating and set a $33.00 target price on the stock in a report on Monday, July 11th. B. Riley downgraded shares of Taylor Morrison Home from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $36.00 to $28.00 in a report on Thursday, June 16th. Wells Fargo & Company boosted their target price on shares of Taylor Morrison Home from $25.00 to $30.00 and gave the stock an "equal weight" rating in a report on Thursday, July 28th. Royal Bank of Canada downgraded shares of Taylor Morrison Home from an "outperform" rating to a "sector perform" rating and boosted their target price for the stock from $28.00 to $29.00 in a report on Thursday, July 28th. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. dropped their target price on shares of 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 equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $31.14.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Assetmark Inc. grew its position in Taylor Morrison Home by 119.6% during the second quarter. Assetmark Inc. now owns 1,221 shares of the construction company's stock valued at $29,000 after purchasing an additional 665 shares in the last quarter. Lazard Asset Management LLC bought a new stake in Taylor Morrison Home in the first quarter worth approximately $44,000. Covestor Ltd bought a new stake in Taylor Morrison Home in the fourth quarter worth approximately $54,000. Quantbot Technologies LP bought a new stake in Taylor Morrison Home in the first quarter worth approximately $77,000. Finally, Counterpoint Mutual Funds LLC bought a new stake in Taylor Morrison Home in the first quarter worth approximately $80,000. 95.05% of the stock is owned by hedge funds and other institutional investors.
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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