Taylor Morrison Home (NYSE:TMHC) Shares Gap Up to $65.30

Taylor Morrison Home Co. (NYSE:TMHC) gapped up prior to trading on Friday . The stock had previously closed at $65.30, but opened at $67.33. Taylor Morrison Home shares last traded at $67.17, with a volume of 18,495 shares.

Analyst Ratings Changes

A number of analysts have recently issued reports on TMHC shares. BTIG Research upgraded shares of Taylor Morrison Home from a “neutral” rating to a “buy” rating and set a $78.00 price objective on the stock in a research note on Monday, August 19th. Zelman & Associates raised shares of Taylor Morrison Home from a “neutral” rating to an “outperform” rating in a research note on Monday, August 12th. Royal Bank of Canada upped their price objective on shares of Taylor Morrison Home from $63.00 to $74.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. StockNews.com downgraded Taylor Morrison Home from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Finally, Wedbush reiterated a “neutral” rating and issued a $65.00 price target (up previously from $61.00) on shares of Taylor Morrison Home in a research note on Wednesday, July 24th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.17.

Taylor Morrison Home Price Performance

The company has a market cap of $7.15 billion, a P/E ratio of 9.34 and a beta of 1.96. The company’s 50-day moving average price is $63.38 and its two-hundred day moving average price is $59.41. The company has a current ratio of 6.01, a quick ratio of 0.67 and a debt-to-equity ratio of 0.39.

Taylor Morrison Home (NYSE:TMHC) last posted its quarterly earnings results on Wednesday, July 24th. The construction company reported $1.97 EPS for the quarter, topping analysts’ consensus estimates of $1.91 by $0.06. Taylor Morrison Home had a return on equity of 14.99% and a net margin of 9.92%. The business had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.87 billion. As a group, sell-side analysts expect that Taylor Morrison Home Co. will post 8.15 earnings per share for the current year.

Insider Activity

In other Taylor Morrison Home news, Director William H. Lyon sold 30,000 shares of the stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $66.31, for a total transaction of $1,989,300.00. Following the sale, 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 Securities & Exchange Commission, which can be accessed through the SEC website. In other Taylor Morrison Home news, Director William H. Lyon sold 30,000 shares of Taylor Morrison Home stock in a transaction that occurred on Thursday, July 18th. The stock was 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 in the company, valued at $147,560,703.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director William H. Lyon sold 28,259 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $68.25, for a total value of $1,928,676.75. Following the sale, the director now owns 2,197,057 shares in the company, valued at $149,949,140.25. The disclosure for this sale can be found here. In the last ninety days, insiders sold 90,000 shares of company stock worth $5,966,317. 3.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Taylor Morrison Home

Several hedge funds and other institutional investors have recently modified their holdings of TMHC. Rise Advisors LLC bought a new stake in Taylor Morrison Home in the 1st quarter valued at about $26,000. ICA Group Wealth Management LLC bought a new stake in shares of Taylor Morrison Home during the fourth quarter valued at approximately $27,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Taylor Morrison Home during the second quarter worth approximately $31,000. Private Wealth Management Group LLC bought a new position in Taylor Morrison Home in the 4th quarter worth approximately $39,000. Finally, Fidelis Capital Partners LLC bought a new position in Taylor Morrison Home in the 1st quarter worth approximately $82,000. Institutional investors and hedge funds own 95.16% of the company’s stock.

Taylor Morrison Home Company Profile

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.