Taylor Morrison Home (NYSE:TMHC) Sets New 1-Year High Following Analyst Upgrade

Taylor Morrison Home Co. (NYSE:TMHC) hit a new 52-week high on Friday after Barclays raised their price target on the stock from $62.00 to $72.00. Barclays currently has an equal weight rating on the stock. Taylor Morrison Home traded as high as $68.33 and last traded at $68.26, with a volume of 23341 shares trading hands. The stock had previously closed at $65.52.

TMHC has been the topic of a number of other reports. Raymond James initiated coverage on shares of Taylor Morrison Home in a research report on Wednesday. They issued an “outperform” rating and a $75.00 price objective on the stock. Royal Bank of Canada upped their price target on Taylor Morrison Home from $63.00 to $74.00 and gave the company an “outperform” rating in a report on Thursday. StockNews.com cut shares of Taylor Morrison Home from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Wedbush reaffirmed a “neutral” rating and issued a $65.00 target price (up from $61.00) on shares of Taylor Morrison Home in a research report on Wednesday. Finally, Zelman & Associates raised shares of Taylor Morrison Home from an “underperform” rating to a “neutral” rating in a research report on Friday, April 12th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $66.50.

Insider Buying and Selling

In other news, CEO Sheryl Palmer sold 100,000 shares of Taylor Morrison Home stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $61.70, for a total value of $6,170,000.00. Following the sale, the chief executive officer now owns 19,211 shares of the company’s stock, valued at $1,185,318.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Taylor Morrison Home news, Director William H. Lyon sold 30,000 shares of the stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $66.31, for a total value of $1,989,300.00. Following the completion of the transaction, the director now directly owns 2,225,316 shares of the company’s stock, valued at $147,560,703.96. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Sheryl Palmer sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $61.70, for a total value of $6,170,000.00. Following the sale, the chief executive officer now directly owns 19,211 shares in the company, valued at approximately $1,185,318.70. The disclosure for this sale can be found here. Insiders sold a total of 160,000 shares of company stock valued at $10,089,200 over the last three months. 3.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Taylor Morrison Home

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TMHC. Allspring Global Investments Holdings LLC boosted its stake in Taylor Morrison Home by 4,586.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 663,385 shares of the construction company’s stock worth $41,243,000 after buying an additional 649,230 shares during the last quarter. TCW Group Inc. boosted its holdings in Taylor Morrison Home by 118.2% in the 4th quarter. TCW Group Inc. now owns 57,315 shares of the construction company’s stock worth $3,058,000 after acquiring an additional 31,045 shares during the period. Sei Investments Co. increased its stake in Taylor Morrison Home by 36.7% during the 1st quarter. Sei Investments Co. now owns 366,987 shares of the construction company’s stock worth $22,816,000 after buying an additional 98,539 shares during the period. Journey Strategic Wealth LLC acquired a new position in shares of Taylor Morrison Home in the fourth quarter worth about $235,000. Finally, BNP Paribas Financial Markets boosted its stake in shares of Taylor Morrison Home by 127.6% during the 1st quarter. BNP Paribas Financial Markets now owns 203,435 shares of the construction company’s stock valued at $12,648,000 after buying an additional 114,034 shares during the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

Taylor Morrison Home Stock Up 3.9 %

The stock has a market capitalization of $7.20 billion, a P/E ratio of 9.37 and a beta of 1.95. The stock’s 50 day simple moving average is $57.77 and its 200 day simple moving average is $56.75. The company has a current ratio of 6.01, a quick ratio of 0.91 and a debt-to-equity ratio of 0.39.

Taylor Morrison Home (NYSE:TMHC) last issued its quarterly earnings results on Tuesday, April 30th. The construction company reported $1.75 earnings per share for the quarter, beating analysts’ consensus estimates of $1.57 by $0.18. Taylor Morrison Home had a return on equity of 14.99% and a net margin of 9.92%. The business had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same period in the previous year, the business earned $1.74 EPS. The business’s quarterly revenue was up 2.3% on a year-over-year basis. As a group, research analysts predict that Taylor Morrison Home Co. will post 7.62 EPS for the current fiscal year.

About Taylor Morrison Home

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.