Taylor Morrison Home (NYSE:TMHC) Hits New 12-Month High - What's Next?

Shares of Taylor Morrison Home Co. (NYSE:TMHC - Get Free Report) reached a new 52-week high during trading on Thursday . The company traded as high as $71.97 and last traded at $71.79, with a volume of 32467 shares. The stock had previously closed at $70.66.

Wall Street Analysts Forecast Growth

TMHC has been the subject of a number of recent analyst reports. Wedbush raised shares of Taylor Morrison Home from a "neutral" rating to an "outperform" rating and lifted their price target for the stock from $65.00 to $85.00 in a research note on Friday, October 25th. Barclays lifted their price target on shares of Taylor Morrison Home from $72.00 to $75.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 24th. StockNews.com raised shares of Taylor Morrison Home from a "hold" rating to a "buy" rating in a research note on Thursday, October 24th. Raymond James reiterated an "outperform" rating and set a $84.00 price objective (up previously from $81.00) on shares of Taylor Morrison Home in a report on Tuesday, October 29th. Finally, Royal Bank of Canada lifted their price objective on shares of Taylor Morrison Home from $74.00 to $77.00 and gave the company an "outperform" rating in a report on Thursday, October 24th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $77.33.

Taylor Morrison Home Stock Performance

The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.69 and a current ratio of 6.24. The firm has a market cap of $7.40 billion, a P/E ratio of 9.46 and a beta of 1.96. The firm's fifty day moving average price is $68.32 and its 200 day moving average price is $62.54.

Taylor Morrison Home (NYSE:TMHC - Get Free Report) last posted its quarterly 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 net margin of 10.39% and a return on equity of 15.91%. The business had revenue of $2.12 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same quarter in the previous year, the business posted $1.62 EPS. The company's quarterly revenue was up 26.6% compared to the same quarter last year. Sell-side analysts expect that Taylor Morrison Home Co. will post 8.43 EPS for the current fiscal year.

Insider Activity

In related news, EVP Darrell Sherman sold 26,757 shares of the business's stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $70.00, for a total transaction of $1,872,990.00. Following the completion of the transaction, the executive vice president now owns 109,217 shares in the company, valued at $7,645,190. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last quarter, insiders sold 95,262 shares of company stock worth $6,702,557. 3.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of TMHC. Wedge Capital Management L L P NC grew its position in Taylor Morrison Home by 1,910.4% during the 2nd 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. grew its position in Taylor Morrison Home by 271.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 896,032 shares of the construction company's stock worth $62,955,000 after purchasing an additional 654,541 shares during the last quarter. Lord Abbett & CO. LLC grew its position in Taylor Morrison Home by 203.0% during the 1st quarter. Lord Abbett & CO. LLC now owns 440,717 shares of the construction company's stock worth $27,400,000 after purchasing an additional 295,256 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in Taylor Morrison Home by 18.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 786,249 shares of the construction company's stock worth $43,590,000 after purchasing an additional 122,864 shares during the last quarter. Finally, EMG Holdings L.P. purchased a new stake in Taylor Morrison Home during the 2nd quarter worth approximately $6,098,000. Institutional investors own 95.16% of the company's stock.

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.