Taylor Morrison Home (NYSE:TMHC) Shares Gap Down – Here’s Why

Taylor Morrison Home Co. (NYSE:TMHC) gapped down prior to trading on Friday . The stock had previously closed at $60.78, but opened at $58.64. Taylor Morrison Home shares last traded at $58.84, with a volume of 419,089 shares changing hands.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Wolfe Research upgraded shares of Taylor Morrison Home from a “peer perform” rating to an “outperform” rating and set a $76.00 price objective on the stock in a report on Wednesday, January 8th. Barclays raised shares of Taylor Morrison Home from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $75.00 to $90.00 in a research note on Wednesday, December 11th. JPMorgan Chase & Co. decreased their target price on shares of Taylor Morrison Home from $90.00 to $82.00 and set an “overweight” rating for the company in a research note on Tuesday, February 18th. Royal Bank of Canada raised their target price on shares of Taylor Morrison Home from $72.00 to $74.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. Finally, StockNews.com cut shares of Taylor Morrison Home from a “buy” rating to a “hold” rating in a research note on Wednesday, January 8th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.43.

Taylor Morrison Home Stock Down 2.3 %

The company has a quick ratio of 0.94, a current ratio of 6.39 and a debt-to-equity ratio of 0.36. The company has a market cap of $6.04 billion, a price-to-earnings ratio of 7.18 and a beta of 2.06. The stock has a fifty day moving average price of $62.75 and a two-hundred day moving average price of $65.81.

Taylor Morrison Home (NYSE:TMHC) last posted its quarterly earnings results on Wednesday, February 12th. The construction company reported $2.64 EPS for the quarter, beating analysts’ consensus estimates of $2.40 by $0.24. Taylor Morrison Home had a return on equity of 16.50% and a net margin of 10.81%. As a group, sell-side analysts expect that Taylor Morrison Home Co. will post 8.93 EPS for the current year.

Insider Activity at Taylor Morrison Home

In other Taylor Morrison Home news, Director David C. Merritt sold 2,402 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $63.98, for a total transaction of $153,679.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Joseph Terracciano sold 1,537 shares of the business’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $60.75, for a total value of $93,372.75. The disclosure for this sale can be found here. 3.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. State Street Corp raised its stake in Taylor Morrison Home by 2.8% during the third quarter. State Street Corp now owns 4,987,968 shares of the construction company’s stock worth $350,455,000 after acquiring an additional 136,432 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Taylor Morrison Home by 3.5% during the third quarter. Principal Financial Group Inc. now owns 2,051,580 shares of the construction company’s stock worth $144,144,000 after purchasing an additional 69,222 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Taylor Morrison Home by 13.4% during the fourth quarter. Northern Trust Corp now owns 1,670,241 shares of the construction company’s stock worth $102,235,000 after purchasing an additional 197,880 shares during the last quarter. Norges Bank bought a new stake in shares of Taylor Morrison Home during the fourth quarter worth about $93,810,000. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of Taylor Morrison Home by 1.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,369,832 shares of the construction company’s stock worth $83,847,000 after purchasing an additional 20,908 shares during the last quarter. 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.