Shares of Taylor Morrison Home Co. (NYSE:TMHC – Get Rating) rose 1.5% on Friday following buying activity from insiders. The company traded as high as $23.73 and last traded at $23.63. About 11,755 shares changed hands during midday trading, down 99% from the average daily volume of 921,122 shares. The stock had previously closed at $23.27. Specifically, Chief Financial Officer Louis Steffens bought 11,000 shares of the company’s stock in a transaction that took place on Wednesday, September 14th. The stock was purchased at an average price of $23.07 per share for a total value of $253,770.00. Upon completion of the transaction, the Chief Financial Officer 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, available through the SEC’s website. 5.20% of the shares are currently owned by company insiders.
Analyst upgrades and downgrades
A number of equities research analysts recently rated the stock. JPMorgan Chase & Co. lowered its target price on shares of Taylor Morrison Home to $30.00 from $35.00 and gave the company an overweight rating in a report Tuesday, July 12. StockNews.com upgraded shares of Taylor Morrison Home from a “hold” rating to a “buy” rating in a report Thursday, July 28. B. Riley downgraded shares of Taylor Morrison Home from a “buy” rating to a “neutral” rating from a “buy” rating in a research note on Thursday, June, and lowered its price target on the company to 28 from $36.00, $00. Wells Fargo & Company raised its target price on Taylor Morrison Home shares to $30.00 from $25.00 and ranked the company “equal weight” in a research note on Thursday, July 28. Finally, Credit Suisse Group upgraded shares of Taylor Morrison Home to an outperform rating from a rating of “neutral” and issued a research note on Monday, July 11, setting a price target of $33.00 for the stock. Four research analysts have rated the stock with a hold rating and four with 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.
Performance of Taylor Morrison Home shares
The stock has a market cap of $2.73 billion, a price-to-earnings ratio of 3.14 and a beta of 1.76. The company has a gearing 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 Rating) last announced its quarterly earnings data on Wednesday, July 27th. 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 made $2 billion in revenue for the quarter, compared to analysts’ expectations of $2.01 billion. Taylor Morrison Home had a net margin of 11.27% and a return on equity of 22.19%. The company’s revenue increased by 16.0% compared to the prior-year quarter. In the same quarter last year, the company posted $0.95 per share. On average, equities analysts expect Taylor Morrison Home Co. to report earnings per share of 9.73 for the current year.
Institutional inflows and outflows
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% in the fourth quarter. Teacher Retirement System of Texas now owns 24,104 shares of the construction company, valued at $843,000, after purchasing an additional 3,327 shares during the period. Qube Research & Technologies Ltd bought a new position in Taylor Morrison Home valued at $406,000 during the fourth quarter. JPMorgan Chase & Co. increased its position in Taylor Morrison Home by 22.4% in the fourth quarter. JPMorgan Chase & Co. now owns 664,356 shares of the construction company’s stock valued at $23,226,000 after purchasing an additional 121,391 shares during the period. Covestor Ltd bought a new position in Taylor Morrison Home for $54,000 in the fourth quarter. Finally, Candriam Luxembourg SCA acquired a new stake in Taylor Morrison Home valued at $1,622,000 during the fourth quarter. 95.05% of the shares are currently owned by institutional investors and hedge funds.
Taylor Morrison Home Company Profile
Taylor Morrison Home Corporation, together with its subsidiaries, operates as a public housing company in the United States. The company designs, builds and sells single and multi-family houses and townhouses; and develops lifestyle and master plan communities. It also develops and constructs multipurpose properties consisting of commercial, retail and multi-family properties under the Urban Form brand name; and provides title insurance and deal processing services, as well as financial services.
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