Taylor Morrison Home (NYSE:TMHC) Sees Strong Trading Volume – Time to Buy?

Shares of Taylor Morrison Home Corporation (NYSE:TMHC) saw strong trading volume on Wednesday . Approximately 1,659,222 shares traded hands during trading, a decline of 14% from the previous session’s volume of 1,935,811 shares.The stock last traded at $71.7660 and had previously closed at $71.74.

Wall Street Analysts Forecast Growth

TMHC has been the subject of several analyst reports. Bank of America decreased their price objective on shares of Taylor Morrison Home from $72.00 to $68.00 and set a “neutral” rating for the company in a research note on Monday, April 20th. Seaport Research Partners reaffirmed a “sell” rating and set a $49.00 target price (down from $85.00) on shares of Taylor Morrison Home in a research note on Tuesday, April 7th. Raymond James Financial downgraded Taylor Morrison Home from an “outperform” rating to a “market perform” rating in a report on Friday, June 26th. Zacks Research raised Taylor Morrison Home from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 22nd. Finally, Wolfe Research cut Taylor Morrison Home from an “outperform” rating to a “peer perform” rating in a report on Wednesday, June 10th. Three analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, Taylor Morrison Home has a consensus rating of “Hold” and a consensus price target of $76.86.

Taylor Morrison Home Trading Up 0.1%

The stock’s 50-day moving average price is $64.88 and its 200 day moving average price is $62.79. The company has a debt-to-equity ratio of 0.37, a current ratio of 7.66 and a quick ratio of 1.45. The firm has a market capitalization of $6.71 billion, a PE ratio of 10.72, a price-to-earnings-growth ratio of 1.68 and a beta of 1.47.

Taylor Morrison Home (NYSE:TMHC) last announced its quarterly earnings results on Wednesday, April 22nd. The construction company reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.30. Taylor Morrison Home had a return on equity of 11.48% and a net margin of 8.77%.The firm had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same quarter in the previous year, the business earned $2.07 earnings per share. Taylor Morrison Home’s quarterly revenue was down 26.8% on a year-over-year basis. On average, sell-side analysts expect that Taylor Morrison Home Corporation will post 5.26 EPS for the current fiscal year.

Institutional Investors Weigh In On Taylor Morrison Home

Several hedge funds have recently made changes to their positions in TMHC. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Taylor Morrison Home by 5.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 299,888 shares of the construction company’s stock valued at $18,005,000 after buying an additional 16,379 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in Taylor Morrison Home by 30.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 899 shares of the construction company’s stock worth $55,000 after acquiring an additional 211 shares during the period. M&T Bank Corp purchased a new stake in Taylor Morrison Home in the second quarter worth about $262,000. EverSource Wealth Advisors LLC grew its holdings in Taylor Morrison Home by 406.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 897 shares of the construction company’s stock worth $55,000 after acquiring an additional 720 shares in the last quarter. Finally, Marshall Wace LLP grew its holdings in Taylor Morrison Home by 12.0% during the 2nd quarter. Marshall Wace LLP now owns 8,029 shares of the construction company’s stock worth $493,000 after acquiring an additional 859 shares in the last quarter. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

About Taylor Morrison Home

Taylor Morrison Home Corporation (NYSE:TMHC) is a leading national homebuilder and developer specializing in the design, construction and sale of single-family detached and attached homes. The company’s portfolio spans entry-level, first-time, move-up and active-adult segments, offering buyers a diverse array of architectural styles, floor plans and personalized design options. Through its vertically integrated model, Taylor Morrison manages land acquisition, community development, construction and sales to deliver quality homes and customer-focused experiences across its markets.

The company’s heritage traces back to Morrison Homes, founded in 1977, and Taylor Woodrow, established in 1921 in the United Kingdom.