Taylor Morrison Home (NYSE:TMHC) Hits New 1-Year High at $60.98

Taylor Morrison Home Co. (NYSE:TMHC) shares reached a new 52-week high on Wednesday . The company traded as high as $60.98 and last traded at $60.65, with a volume of 138857 shares traded. The stock had previously closed at $60.17.

Wall Street Analyst Weigh In

TMHC has been the subject of several research reports. Barclays lifted their price objective on Taylor Morrison Home from $55.00 to $60.00 and gave the stock an “equal weight” rating in a report on Thursday, February 15th. Seaport Res Ptn cut shares of Taylor Morrison Home from a “buy” rating to a “neutral” rating in a research note on Monday, January 22nd. Deutsche Bank Aktiengesellschaft upgraded shares of Taylor Morrison Home from a “hold” rating to a “buy” rating and lifted their target price for the stock from $50.00 to $57.00 in a research report on Friday, December 8th. Wedbush reiterated a “neutral” rating and issued a $52.00 price target on shares of Taylor Morrison Home in a research report on Monday, December 18th. Finally, StockNews.com downgraded Taylor Morrison Home from a “buy” rating to a “hold” rating in a research report on Thursday, March 21st. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Taylor Morrison Home presently has an average rating of “Hold” and an average target price of $57.20.

Taylor Morrison Home Trading Up 1.4 %

The business’s 50-day moving average price is $55.89 and its two-hundred day moving average price is $49.30. The firm has a market cap of $6.62 billion, a price-to-earnings ratio of 8.91 and a beta of 1.87. The company has a debt-to-equity ratio of 0.38, a current ratio of 6.00 and a quick ratio of 1.13.

Taylor Morrison Home (NYSE:TMHC) last issued its quarterly earnings results on Wednesday, February 14th. The construction company reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.82 by $0.23. The company had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.85 billion. Taylor Morrison Home had a return on equity of 16.21% and a net margin of 10.37%. The business’s revenue for the quarter was down 19.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.93 EPS. Equities analysts expect that Taylor Morrison Home Co. will post 7.34 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Curtis Vanhyfte sold 9,874 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $57.70, for a total transaction of $569,729.80. Following the transaction, the chief financial officer now directly owns 7,765 shares in the company, valued at approximately $448,040.50. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Taylor Morrison Home news, Director William H. Lyon sold 164,000 shares of the business’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $60.33, for a total transaction of $9,894,120.00. Following the completion of the sale, the director now owns 43,570 shares of the company’s stock, valued at $2,628,578.10. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Curtis Vanhyfte sold 9,874 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $57.70, for a total value of $569,729.80. Following the sale, the chief financial officer now owns 7,765 shares of the company’s stock, valued at $448,040.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 460,537 shares of company stock valued at $26,874,807. Insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On Taylor Morrison Home

A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. raised its position in Taylor Morrison Home by 14.6% in the second quarter. BlackRock Inc. now owns 16,885,291 shares of the construction company’s stock valued at $823,496,000 after purchasing an additional 2,146,779 shares during the period. Vanguard Group Inc. raised its holdings in shares of Taylor Morrison Home by 1.9% during the 3rd quarter. Vanguard Group Inc. now owns 11,404,759 shares of the construction company’s stock valued at $485,957,000 after buying an additional 217,222 shares during the period. State Street Corp lifted its position in Taylor Morrison Home by 0.9% during the 2nd quarter. State Street Corp now owns 4,252,382 shares of the construction company’s stock worth $207,389,000 after acquiring an additional 39,920 shares in the last quarter. Macquarie Group Ltd. boosted its holdings in Taylor Morrison Home by 2.3% in the 1st quarter. Macquarie Group Ltd. now owns 3,299,615 shares of the construction company’s stock worth $126,243,000 after acquiring an additional 73,272 shares during the period. Finally, Fuller & Thaler Asset Management Inc. boosted its stake in shares of Taylor Morrison Home by 117.0% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 3,180,341 shares of the construction company’s stock valued at $135,514,000 after purchasing an additional 1,714,897 shares during the period. Hedge funds and other institutional investors own 95.16% of the company’s stock.

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 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.