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

Shares of 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 trading hands.

Analyst Upgrades and Downgrades

TMHC has been the subject of a number of analyst reports. Wolfe Research upgraded Taylor Morrison Home from a “peer perform” rating to an “outperform” rating and set a $76.00 price target for the company in a research note on Wednesday, January 8th. StockNews.com downgraded Taylor Morrison Home from a “buy” rating to a “hold” rating in a research note on Wednesday, January 8th. Seaport Res Ptn upgraded Taylor Morrison Home from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 6th. JPMorgan Chase & Co. dropped their price target on Taylor Morrison Home from $90.00 to $82.00 and set an “overweight” rating for the company in a report on Tuesday, February 18th. Finally, Barclays raised Taylor Morrison Home from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $75.00 to $90.00 in a report on Wednesday, December 11th. 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.com, the company has a consensus rating of “Moderate Buy” and an average target price of $82.43.

Taylor Morrison Home Stock Performance

The company has a 50 day moving average price of $62.75 and a 200-day moving average price of $65.87. The company has a current ratio of 6.39, a quick ratio of 0.94 and a debt-to-equity ratio of 0.36. The company has a market cap of $6.07 billion, a P/E ratio of 7.21 and a beta of 2.06.

Taylor Morrison Home (NYSE:TMHC) last issued its quarterly earnings data on Wednesday, February 12th. The construction company reported $2.64 earnings per share for the quarter, topping 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%. On average, equities analysts expect that Taylor Morrison Home Co. will post 8.93 earnings per share for the current fiscal year.

Insider Buying and Selling at Taylor Morrison Home

In related news, Director David C. Merritt sold 2,402 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $63.98, for a total transaction of $153,679.96. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Joseph Terracciano sold 1,537 shares of the company’s stock in a transaction that occurred on 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. Corporate insiders own 3.50% of the company’s stock.

Institutional Trading of Taylor Morrison Home

Several institutional investors and hedge funds have recently modified their holdings of the stock. 111 Capital purchased a new stake in shares of Taylor Morrison Home in the fourth quarter worth approximately $809,000. GTS Securities LLC bought a new position in Taylor Morrison Home during the fourth quarter valued at $277,000. Vise Technologies Inc. purchased a new stake in shares of Taylor Morrison Home during the fourth quarter worth $310,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Taylor Morrison Home by 17.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 283,509 shares of the construction company’s stock worth $17,354,000 after acquiring an additional 42,984 shares in the last quarter. Finally, Voloridge Investment Management LLC lifted its position in shares of Taylor Morrison Home by 163.0% during the fourth quarter. Voloridge Investment Management LLC now owns 165,634 shares of the construction company’s stock worth $10,138,000 after acquiring an additional 102,653 shares in the last quarter. 95.16% of the stock is owned by hedge funds and other institutional investors.

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.