Taylor Morrison Home Co. (NYSE:TMHC) Sees Significant Drop in Short Interest

Taylor Morrison Home Co. (NYSE:TMHC) was the recipient of a large decrease in short interest in the month of March. As of March 15th, there was short interest totalling 1,970,000 shares, a decrease of 12.4% from the February 28th total of 2,250,000 shares. Based on an average trading volume of 1,100,000 shares, the short-interest ratio is presently 1.8 days. Approximately 2.0% of the shares of the company are short sold.

Taylor Morrison Home Stock Performance

Shares of NYSE TMHC traded down $3.51 during midday trading on Thursday, hitting $57.81. 169,147 shares of the stock traded hands, compared to its average volume of 874,661. The firm has a 50-day moving average of $62.10 and a two-hundred day moving average of $65.59. Taylor Morrison Home has a one year low of $53.17 and a one year high of $75.49. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.94 and a current ratio of 6.39. The firm has a market capitalization of $5.88 billion, a P/E ratio of 6.98 and a beta of 1.76.

Taylor Morrison Home (NYSE:TMHC) last posted its quarterly earnings results on Wednesday, February 12th. The construction company reported $2.64 earnings per share 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%. On average, equities analysts forecast that Taylor Morrison Home will post 8.93 EPS for the current fiscal year.

Insider Activity

In related news, CAO Joseph Terracciano sold 1,537 shares of Taylor Morrison Home stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $60.75, for a total value of $93,372.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David C. Merritt sold 2,402 shares of the firm’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $63.98, for a total value of $153,679.96. The disclosure for this sale can be found here. Insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On Taylor Morrison Home

Several large investors have recently made changes to their positions in TMHC. Norges Bank purchased a new stake in shares of Taylor Morrison Home during the fourth quarter worth about $93,810,000. Boston Partners raised 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 buying an additional 279,361 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of Taylor Morrison Home in the fourth quarter worth $14,736,000. Point72 Asset Management L.P. bought a new position in shares of Taylor Morrison Home during the fourth quarter worth $13,332,000. Finally, Northern Trust Corp grew its stake in Taylor Morrison Home by 13.4% during the fourth quarter. Northern Trust Corp now owns 1,670,241 shares of the construction company’s stock valued at $102,235,000 after acquiring an additional 197,880 shares in the last quarter. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on TMHC shares. Seaport Res Ptn upgraded Taylor Morrison Home from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 6th. StockNews.com cut shares of Taylor Morrison Home from a “buy” rating to a “hold” rating in a research note on Wednesday, January 8th. 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 report on Wednesday, January 8th. Barclays raised shares of Taylor Morrison Home from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $75.00 to $90.00 in a report on Wednesday, December 11th. Finally, JPMorgan Chase & Co. dropped their price objective on Taylor Morrison Home from $90.00 to $82.00 and set an “overweight” rating for the company in a research note on Tuesday, February 18th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $82.43.

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.