Taylor Morrison Home (NYSE:TMHC) Trading Up 3.5% - Here's Why

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

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on TMHC. Seaport Res Ptn raised Taylor Morrison Home from a "strong sell" rating to a "hold" rating in a report on Thursday, March 6th. Wolfe Research raised shares of Taylor Morrison Home from a "peer perform" rating to an "outperform" rating and set a $76.00 price target for the company in a research report on Wednesday, January 8th. Royal Bank of Canada boosted their target price on shares of Taylor Morrison Home from $72.00 to $74.00 and gave the company an "outperform" rating in a research report on Thursday, February 13th. StockNews.com downgraded Taylor Morrison Home from a "buy" rating to a "hold" rating in a research report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. decreased their price objective on Taylor Morrison Home from $90.00 to $82.00 and set an "overweight" rating for the company in a report on Tuesday, February 18th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $79.57.

Taylor Morrison Home Trading Up 6.3 %

The firm has a market capitalization of $5.83 billion, a PE ratio of 6.92 and a beta of 1.76. The company's fifty day simple moving average is $61.14 and its 200-day simple moving average is $65.11. The company has a debt-to-equity ratio of 0.36, a current ratio of 6.39 and a quick ratio of 0.94.

Taylor Morrison Home (NYSE:TMHC - Get Free Report) last released its earnings results on Wednesday, February 12th. The construction company reported $2.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.40 by $0.24. Taylor Morrison Home had a net margin of 10.81% and a return on equity of 16.50%. As a group, sell-side analysts expect that Taylor Morrison Home Co. will post 8.93 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Taylor Morrison Home news, Director David C. Merritt sold 2,402 shares of the business's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $63.98, for a total value of $153,679.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Joseph Terracciano sold 1,537 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $60.75, for a total transaction of $93,372.75. The disclosure for this sale can be found here. 3.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Taylor Morrison Home

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TMHC. Norges Bank acquired a new stake in shares of Taylor Morrison Home during the 4th quarter worth about $93,810,000. Boston Partners increased its position in shares of Taylor Morrison Home by 88.7% during the fourth quarter. Boston Partners now owns 594,347 shares of the construction company's stock valued at $36,794,000 after acquiring an additional 279,361 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of Taylor Morrison Home in the 4th quarter worth approximately $14,736,000. Point72 Asset Management L.P. purchased a new position in shares of Taylor Morrison Home during the 4th quarter worth approximately $13,332,000. Finally, Northern Trust Corp raised its position in Taylor Morrison Home by 13.4% in the fourth quarter. Northern Trust Corp now owns 1,670,241 shares of the construction company's stock valued at $102,235,000 after purchasing an additional 197,880 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.