Taylor Morrison Home (NYSE:TMHC) Stock Price Up 3.5% – Still a Buy?

Taylor Morrison Home Co. (NYSE:TMHC) shot up 3.5% during mid-day trading on Friday . The stock traded as high as $57.96 and last traded at $59.60. 258,618 shares changed hands during trading, a decline of 71% from the average session volume of 877,392 shares. The stock had previously closed at $57.59.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TMHC. Royal Bank of Canada lifted their price target on Taylor Morrison Home from $72.00 to $74.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. Wolfe Research upgraded shares of Taylor Morrison Home from a “peer perform” rating to an “outperform” rating and set a $76.00 target price for the company in a report on Wednesday, January 8th. Barclays upgraded shares of Taylor Morrison Home from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $75.00 to $90.00 in a report on Wednesday, December 11th. Seaport Res Ptn upgraded shares of Taylor Morrison Home from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 6th. Finally, JPMorgan Chase & Co. lowered 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. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.43.

Taylor Morrison Home Price Performance

The stock’s 50 day simple moving average is $61.81 and its 200-day simple moving average is $65.44. The firm has a market cap of $6.04 billion, a price-to-earnings ratio of 7.17 and a beta of 1.76. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.94 and a current ratio of 6.39.

Taylor Morrison Home (NYSE:TMHC) last released its earnings results on Wednesday, February 12th. The construction company reported $2.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.24. Taylor Morrison Home had a return on equity of 16.50% and a net margin of 10.81%. Equities research analysts anticipate that Taylor Morrison Home Co. will post 8.93 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO Joseph Terracciano sold 1,537 shares of the firm’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $60.75, for a total transaction of $93,372.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David C. Merritt sold 2,402 shares of the company’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $63.98, for a total transaction of $153,679.96. The disclosure for this sale can be found here. Corporate insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On Taylor Morrison Home

Hedge funds have recently bought and sold shares of the stock. CIBC Asset Management Inc lifted its stake in shares of Taylor Morrison Home by 5.5% in the 4th quarter. CIBC Asset Management Inc now owns 3,302 shares of the construction company’s stock valued at $202,000 after purchasing an additional 173 shares during the period. Pacer Advisors Inc. raised its position in shares of Taylor Morrison Home by 1.2% in the fourth quarter. Pacer Advisors Inc. now owns 15,428 shares of the construction company’s stock worth $944,000 after acquiring an additional 180 shares during the period. Captrust Financial Advisors raised its position in shares of Taylor Morrison Home by 2.9% in the third quarter. Captrust Financial Advisors now owns 8,340 shares of the construction company’s stock worth $586,000 after acquiring an additional 234 shares during the period. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of Taylor Morrison Home by 43.2% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 806 shares of the construction company’s stock worth $49,000 after acquiring an additional 243 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its position in shares of Taylor Morrison Home by 41.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 830 shares of the construction company’s stock valued at $51,000 after acquiring an additional 243 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 develops and constructs multi-use properties consisting of commercial space, retail, and multi-family properties under the Urban Form brand name.