Taylor Morrison Home (NYSE:TMHC) Shares Gap Down – Should You Sell?

Taylor Morrison Home Co. (NYSE:TMHC)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $69.89, but opened at $65.56. Taylor Morrison Home shares last traded at $65.79, with a volume of 68,796 shares traded.

Analysts Set New Price Targets

TMHC has been the topic of a number of recent research reports. Royal Bank of Canada increased their target price on Taylor Morrison Home from $74.00 to $77.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Wedbush raised shares of Taylor Morrison Home from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $65.00 to $85.00 in a research note on Friday. StockNews.com raised shares of Taylor Morrison Home from a “hold” rating to a “buy” rating in a research report on Thursday, October 24th. Barclays raised their price target on shares of Taylor Morrison Home from $72.00 to $75.00 and gave the company an “equal weight” rating in a research report on Thursday, October 24th. Finally, Raymond James reissued an “outperform” rating and set a $84.00 price objective (up from $81.00) on shares of Taylor Morrison Home in a report on Tuesday. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Taylor Morrison Home currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.33.

Taylor Morrison Home Stock Down 2.7 %

The company has a current ratio of 6.24, a quick ratio of 0.69 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $7.19 billion, a P/E ratio of 9.41 and a beta of 1.96. The stock’s 50-day simple moving average is $67.71 and its 200-day simple moving average is $61.79.

Taylor Morrison Home (NYSE:TMHC) last released its earnings results 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. The company had revenue of $2.12 billion during the quarter, compared to analyst estimates of $1.96 billion. Taylor Morrison Home had a return on equity of 15.91% and a net margin of 10.39%. Taylor Morrison Home’s quarterly revenue was up 26.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.62 earnings per share. As a group, research analysts predict that Taylor Morrison Home Co. will post 8.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Taylor Morrison Home

Several institutional investors have recently added to or reduced their stakes in the stock. Wedge Capital Management L L P NC boosted its stake in Taylor Morrison Home by 1,910.4% in 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 acquiring an additional 691,711 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in Taylor Morrison Home by 271.0% in the third quarter. Assenagon Asset Management S.A. now owns 896,032 shares of the construction company’s stock valued at $62,955,000 after purchasing an additional 654,541 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Taylor Morrison Home by 4,586.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 663,385 shares of the construction company’s stock valued at $41,243,000 after purchasing an additional 649,230 shares during the period. Lord Abbett & CO. LLC increased its position in Taylor Morrison Home by 203.0% in the first quarter. Lord Abbett & CO. LLC now owns 440,717 shares of the construction company’s stock worth $27,400,000 after buying an additional 295,256 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its stake in shares of Taylor Morrison Home by 127.6% in the first quarter. BNP Paribas Financial Markets now owns 203,435 shares of the construction company’s stock valued at $12,648,000 after buying an additional 114,034 shares during the period. 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.