Taylor Morrison Home Co. (NYSE:TMHC) Short Interest Update

Taylor Morrison Home Co. (NYSE:TMHC) was the target of 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 daily volume of 828,400 shares, the short-interest ratio is currently 3.2 days. Approximately 2.7% of the company’s stock are short sold.

Taylor Morrison Home Stock Performance

TMHC traded down $0.63 during trading on Monday, reaching $73.24. 604,977 shares of the company were exchanged, compared to its average volume of 795,243. Taylor Morrison Home has a 52 week low of $45.81 and a 52 week high of $75.49. The stock has a market cap of $7.58 billion, a P/E ratio of 9.69 and a beta of 1.96. The firm has a 50 day moving average of $69.92 and a 200 day moving average of $64.25. The company has a current ratio of 6.24, a quick ratio of 0.69 and a debt-to-equity ratio of 0.37.

Taylor Morrison Home (NYSE:TMHC) last announced its earnings results on Wednesday, October 23rd. The construction company reported $2.37 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 business had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same period in the prior year, the business posted $1.62 earnings per share. Taylor Morrison Home’s revenue was up 26.6% compared to the same quarter last year. On average, sell-side analysts forecast that Taylor Morrison Home will post 8.44 EPS for the current fiscal year.

Insider Buying and Selling at Taylor Morrison Home

In other news, Director William H. Lyon sold 24,284 shares of Taylor Morrison Home stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $74.46, for a total value of $1,808,186.64. Following the transaction, the director now owns 2,045,316 shares of the company’s stock, valued at $152,294,229.36. The trade was a 1.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Darrell Sherman sold 68,433 shares of Taylor Morrison Home stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $70.50, for a total transaction of $4,824,526.50. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 128,621 shares of company stock valued at $9,164,869. Company insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Wedge Capital Management L L P NC boosted its holdings in 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 worth $40,356,000 after purchasing an additional 691,711 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of 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. Vision Capital Corp acquired a new position in Taylor Morrison Home in the 3rd quarter valued at about $38,173,000. Charles Schwab Investment Management Inc. increased its stake in shares of Taylor Morrison Home by 26.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,362,020 shares of the construction company’s stock worth $95,696,000 after purchasing an additional 282,227 shares during the period. Finally, Barclays PLC lifted its holdings in shares of Taylor Morrison Home by 66.4% during the third quarter. Barclays PLC now owns 420,419 shares of the construction company’s stock worth $29,539,000 after buying an additional 167,735 shares in the last quarter. 95.16% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the stock. BTIG Research lifted their price objective on shares of Taylor Morrison Home from $78.00 to $86.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Barclays boosted their target price on shares of Taylor Morrison Home from $72.00 to $75.00 and gave the company an “equal weight” rating in a research note on Thursday, October 24th. Raymond James reiterated an “outperform” rating and issued a $84.00 target price (up from $81.00) on shares of Taylor Morrison Home in a research note on Tuesday, October 29th. Royal Bank of Canada boosted their target price on shares of Taylor Morrison Home from $74.00 to $77.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Finally, Zelman & Associates upgraded shares of Taylor Morrison Home from a “neutral” rating to an “outperform” rating in a research note on Monday, August 12th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $77.33.

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.