Short Interest in Taylor Morrison Home Co. (NYSE:TMHC) Grows By 24.0%

Taylor Morrison Home Co. (NYSE:TMHC) saw a large growth in short interest in the month of November. As of November 15th, there was short interest totalling 2,690,000 shares, a growth of 24.0% from the October 31st total of 2,170,000 shares. Based on an average trading volume of 828,400 shares, the days-to-cover ratio is currently 3.2 days. Currently, 2.7% of the shares of the company are short sold.

Taylor Morrison Home Stock Down 0.9 %

TMHC stock traded down $0.63 during trading hours on Monday, reaching $73.24. 604,977 shares of the stock were exchanged, compared to its average volume of 795,243. The company has a debt-to-equity ratio of 0.37, a current ratio of 6.24 and a quick ratio of 0.69. Taylor Morrison Home has a 12 month low of $45.81 and a 12 month high of $75.49. The company has a market cap of $7.58 billion, a price-to-earnings ratio of 9.69 and a beta of 1.96. The firm’s 50-day moving average is $69.92 and its 200-day moving average is $64.25.

Taylor Morrison Home (NYSE:TMHC) last released its quarterly earnings data on Wednesday, October 23rd. The construction company reported $2.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.31. Taylor Morrison Home had a return on equity of 15.91% and a net margin of 10.39%. The firm had revenue of $2.12 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same quarter in the prior year, the company earned $1.62 earnings per share. The business’s revenue for the quarter was up 26.6% compared to the same quarter last year. On average, equities research analysts expect that Taylor Morrison Home will post 8.44 earnings per share for the current year.

Analysts Set New Price Targets

TMHC has been the subject of several research reports. Royal Bank of Canada raised their target price on Taylor Morrison Home from $74.00 to $77.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. BTIG Research increased their price objective on Taylor Morrison Home from $78.00 to $86.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Wedbush raised shares of Taylor Morrison Home from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $65.00 to $85.00 in a research note on Friday, October 25th. Raymond James reaffirmed an “outperform” rating and set a $84.00 price objective (up previously from $81.00) on shares of Taylor Morrison Home in a research report on Tuesday, October 29th. Finally, Barclays boosted their target price on Taylor Morrison Home from $72.00 to $75.00 and gave the stock an “equal weight” rating in a report on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $77.33.

Insiders Place Their Bets

In other Taylor Morrison Home news, Director William H. Lyon sold 24,284 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $74.46, for a total transaction of $1,808,186.64. Following the completion of the sale, the director now directly owns 2,045,316 shares in the company, valued at $152,294,229.36. The trade was a 1.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Darrell Sherman sold 68,433 shares of Taylor Morrison Home stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $70.50, for a total value of $4,824,526.50. Following the sale, the executive vice president now directly owns 109,217 shares in the company, valued at approximately $7,699,798.50. The trade was a 38.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 128,621 shares of company stock valued at $9,164,869. 3.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. MQS Management LLC bought a new position in shares of Taylor Morrison Home during the 3rd quarter worth $768,000. Janus Henderson Group PLC lifted its holdings in Taylor Morrison Home by 22.3% in the first quarter. Janus Henderson Group PLC now owns 76,608 shares of the construction company’s stock worth $4,761,000 after buying an additional 13,987 shares during the period. Wedge Capital Management L L P NC increased its stake in shares of Taylor Morrison Home by 1,910.4% during the second quarter. Wedge Capital Management L L P NC now owns 727,919 shares of the construction company’s stock valued at $40,356,000 after purchasing an additional 691,711 shares in the last quarter. Intech Investment Management LLC bought a new stake in Taylor Morrison Home during the 3rd quarter valued at about $1,899,000. Finally, Creative Planning raised its stake in shares of Taylor Morrison Home by 46.3% in the third quarter. Creative Planning now owns 29,723 shares of the construction company’s stock worth $2,088,000 after purchasing an additional 9,408 shares during the last quarter. 95.16% of the stock is owned by institutional investors.

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.