Taylor Morrison Home Co. (NYSE:TMHC) Short Interest Down 17.0% in October

by · The Cerbat Gem

Taylor Morrison Home Co. (NYSE:TMHC – Get Free Report) was the target of a large decrease in short interest during the month of October. As of October 15th, there was short interest totalling 2,190,000 shares, a decrease of 17.0% from the September 30th total of 2,640,000 shares. Currently, 2.2% of the shares of the company are sold short. Based on an average trading volume of 819,200 shares, the short-interest ratio is currently 2.7 days.

Analysts Set New Price Targets

TMHC has been the topic of several recent research reports. Barclays upped their price objective on shares of Taylor Morrison Home from $72.00 to $75.00 and gave the company an “equal weight” rating in a report on Thursday. Wedbush raised shares of Taylor Morrison Home from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $65.00 to $85.00 in a report on Friday. Zelman & Associates raised shares of Taylor Morrison Home from a “neutral” rating to an “outperform” rating in a report on Monday, August 12th. BTIG Research upped their price objective on shares of Taylor Morrison Home from $78.00 to $86.00 and gave the company a “buy” rating in a report on Thursday. Finally, Royal Bank of Canada upped 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. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $75.83.

Check Out Our Latest Research Report on Taylor Morrison Home

Institutional Investors Weigh In On Taylor Morrison Home

A number of hedge funds have recently modified their holdings of TMHC. Forum Financial Management LP increased its position in Taylor Morrison Home by 3.9% during the second quarter. Forum Financial Management LP now owns 4,430 shares of the construction company’s stock worth $246,000 after purchasing an additional 165 shares during the last quarter. Resonant Capital Advisors LLC increased its position in Taylor Morrison Home by 2.1% during the third quarter. Resonant Capital Advisors LLC now owns 9,103 shares of the construction company’s stock worth $640,000 after purchasing an additional 191 shares during the last quarter. TCW Group Inc. increased its position in Taylor Morrison Home by 0.4% during the second quarter. TCW Group Inc. now owns 52,193 shares of the construction company’s stock worth $2,894,000 after purchasing an additional 213 shares during the last quarter. Arizona State Retirement System increased its position in Taylor Morrison Home by 0.9% during the second quarter. Arizona State Retirement System now owns 29,795 shares of the construction company’s stock worth $1,652,000 after purchasing an additional 266 shares during the last quarter. Finally, SummerHaven Investment Management LLC increased its position in Taylor Morrison Home by 1.8% during the second quarter. SummerHaven Investment Management LLC now owns 14,831 shares of the construction company’s stock worth $822,000 after purchasing an additional 267 shares during the last quarter. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Taylor Morrison Home Price Performance

TMHC traded up $1.37 during midday trading on Monday, hitting $69.89. 817,879 shares of the company traded hands, compared to its average volume of 792,281. The company has a current ratio of 6.24, a quick ratio of 0.69 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $7.39 billion, a price-to-earnings ratio of 9.97 and a beta of 1.96. Taylor Morrison Home has a 52-week low of $37.23 and a 52-week high of $71.95. The business has a 50 day simple moving average of $67.58 and a two-hundred day simple moving average of $61.70.

Taylor Morrison Home (NYSE:TMHC – Get Free Report) last issued its earnings results on Wednesday, October 23rd. The construction company reported $2.37 EPS for the quarter, beating analysts’ consensus estimates of $2.06 by $0.31. The business had revenue of $2.12 billion during the quarter, compared to analysts’ expectations of $1.96 billion. Taylor Morrison Home had a net margin of 10.39% and a return on equity of 15.91%. The company’s quarterly revenue was up 26.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.62 earnings per share. On average, equities analysts forecast that Taylor Morrison Home will post 8.27 earnings per share for the current fiscal year.

About Taylor Morrison Home

(Get Free Report)

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.

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