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

Shares of Taylor Morrison Home Co. (NYSE:TMHC) gapped down before the market opened 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 traded.

Wall Street Analyst Weigh In

TMHC has been the subject of a number of recent research reports. Wolfe Research upgraded Taylor Morrison Home from a “peer perform” rating to an “outperform” rating and set a $76.00 target price for the company 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. Royal Bank of Canada upped their price target on Taylor Morrison Home from $72.00 to $74.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. lowered their price target on Taylor Morrison Home from $90.00 to $82.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 18th. Finally, StockNews.com cut Taylor Morrison Home from a “buy” rating to a “hold” rating in a research report on Wednesday, January 8th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $82.43.

Taylor Morrison Home Stock Down 1.8 %

The firm has a fifty day moving average price of $62.75 and a 200 day moving average price of $65.87. 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 $6.07 billion, a P/E ratio of 7.21 and a beta of 2.06.

Taylor Morrison Home (NYSE:TMHC) last announced its earnings results on Wednesday, February 12th. The construction company reported $2.64 EPS for the quarter, topping 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 forecast that Taylor Morrison Home Co. will post 8.93 earnings per share for the current year.

Insider Buying and Selling at Taylor Morrison Home

In other news, Director David C. Merritt sold 2,402 shares of the firm’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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Joseph Terracciano sold 1,537 shares of the firm’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. Insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Morse Asset Management Inc bought a new position in shares of Taylor Morrison Home during the fourth quarter worth about $29,000. V Square Quantitative Management LLC grew its stake in Taylor Morrison Home by 68.1% in the fourth quarter. V Square Quantitative Management LLC now owns 684 shares of the construction company’s stock valued at $42,000 after purchasing an additional 277 shares in the last quarter. Quarry LP grew its stake in Taylor Morrison Home by 202.1% in the fourth quarter. Quarry LP now owns 704 shares of the construction company’s stock valued at $43,000 after purchasing an additional 471 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its stake in Taylor Morrison Home by 43.2% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 806 shares of the construction company’s stock valued at $49,000 after purchasing an additional 243 shares in the last quarter. Finally, SRS Capital Advisors Inc. bought a new position in Taylor Morrison Home in the fourth quarter valued at approximately $51,000. 95.16% of the stock is currently owned by 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.