Taylor Morrison Home Corp (NYSE:TMHC)’s stock price rose 19.6% during mid-day trading on Wednesday . The stock traded as high as $10.02 and last traded at $11.98, approximately 163,883 shares changed hands during mid-day trading. A decline of 96% from the average daily volume of 4,293,335 shares. The stock had previously closed at $10.02.
TMHC has been the subject of several analyst reports. JPMorgan Chase & Co. cut Taylor Morrison Home from an “overweight” rating to a “neutral” rating and set a $10.00 target price for the company. in a report on Wednesday, March 18th. ValuEngine cut Taylor Morrison Home from a “sell” rating to a “strong sell” rating in a report on Wednesday, February 26th. Royal Bank of Canada reiterated a “buy” rating and set a $18.00 price target on shares of Taylor Morrison Home in a report on Thursday. Zacks Investment Research cut Taylor Morrison Home from a “buy” rating to a “hold” rating in a report on Thursday, January 2nd. Finally, Barclays reiterated a “hold” rating and set a $18.00 price target on shares of Taylor Morrison Home in a report on Tuesday, March 17th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. Taylor Morrison Home has a consensus rating of “Hold” and an average target price of $20.75.
The firm has a market capitalization of $1.62 billion, a PE ratio of 5.05 and a beta of 0.78. The company has a current ratio of 6.76, a quick ratio of 0.73 and a debt-to-equity ratio of 0.78. The business has a fifty day moving average price of $20.93 and a two-hundred day moving average price of $23.42.
In related news, Director Peter R. Lane sold 31,848 shares of the stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $26.59, for a total transaction of $846,838.32. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sheryl Palmer sold 50,000 shares of the stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $28.07, for a total value of $1,403,500.00. Following the transaction, the chief executive officer now directly owns 221,773 shares in the company, valued at approximately $6,225,168.11. The disclosure for this sale can be found here. In the last three months, insiders have sold 102,107 shares of company stock worth $2,810,087. 1.90% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of TMHC. Pacitti Group Inc. acquired a new position in Taylor Morrison Home during the 4th quarter worth about $28,000. Nisa Investment Advisors LLC raised its position in Taylor Morrison Home by 123.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,340 shares of the construction company’s stock valued at $29,000 after purchasing an additional 740 shares in the last quarter. US Bancorp DE raised its position in Taylor Morrison Home by 54.1% in the 4th quarter. US Bancorp DE now owns 1,435 shares of the construction company’s stock valued at $31,000 after purchasing an additional 504 shares in the last quarter. Valeo Financial Advisors LLC acquired a new stake in Taylor Morrison Home in the 4th quarter valued at about $44,000. Finally, Tower Research Capital LLC TRC acquired a new stake in Taylor Morrison Home in the 3rd quarter valued at about $107,000. 82.11% of the stock is currently owned by hedge funds and other institutional investors.
About Taylor Morrison Home (NYSE:TMHC)
Taylor Morrison Home Corporation operates as a public homebuilder in the United States. The company designs, builds, and sells single-family and multi-family attached and detached homes; and develops lifestyle and master-planned communities. It operates under the Taylor Morrison and Darling Homes brand names in Arizona, California, Colorado, Florida, Georgia, Illinois, North Carolina and Texas.
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