Short Interest in Taylor Morrison Home Co. (NYSE:TMHC) Drops By 20.8%

Taylor Morrison Home Co. (NYSE:TMHC) saw a significant decline in short interest in the month of February. As of February 28th, there was short interest totalling 2,250,000 shares, a decline of 20.8% from the February 13th total of 2,840,000 shares. Based on an average daily volume of 1,030,000 shares, the short-interest ratio is currently 2.2 days. Currently, 2.3% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Wolfe Research upgraded shares of Taylor Morrison Home from a “peer perform” rating to an “outperform” rating and set a $76.00 target price on the stock in a research report on Wednesday, January 8th. Barclays upgraded Taylor Morrison Home from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $75.00 to $90.00 in a research report on Wednesday, December 11th. JPMorgan Chase & Co. cut their target price 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. StockNews.com downgraded shares of Taylor Morrison Home from a “buy” rating to a “hold” rating in a report on Wednesday, January 8th. Finally, Royal Bank of Canada upped their price objective on Taylor Morrison Home from $72.00 to $74.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Taylor Morrison Home presently has an average rating of “Moderate Buy” and an average price target of $82.43.

Taylor Morrison Home Stock Performance

NYSE:TMHC opened at $58.64 on Monday. Taylor Morrison Home has a fifty-two week low of $53.17 and a fifty-two week 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 company has a 50 day moving average price of $62.82 and a 200 day moving average price of $66.06. The stock has a market capitalization of $5.97 billion, a P/E ratio of 7.08 and a beta of 2.06.

Taylor Morrison Home (NYSE:TMHC) last released its quarterly earnings results on Wednesday, February 12th. The construction company reported $2.64 EPS for the quarter, topping the consensus estimate of $2.40 by $0.24. Taylor Morrison Home had a return on equity of 16.50% and a net margin of 10.81%. Equities research analysts forecast that Taylor Morrison Home will post 8.93 EPS for the current year.

Insider Activity at Taylor Morrison Home

In other Taylor Morrison Home news, Director David C. Merritt sold 2,402 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The stock was 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 is accessible through this link. Also, 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 transaction of $93,372.75. The disclosure for this sale can be found here. 3.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in TMHC. Lord Abbett & CO. LLC grew its stake in Taylor Morrison Home by 2.5% during the 3rd quarter. Lord Abbett & CO. LLC now owns 463,287 shares of the construction company’s stock worth $32,550,000 after purchasing an additional 11,302 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Taylor Morrison Home by 3.5% during the third quarter. Principal Financial Group Inc. now owns 2,051,580 shares of the construction company’s stock worth $144,144,000 after buying an additional 69,222 shares in the last quarter. Intech Investment Management LLC acquired a new position in shares of Taylor Morrison Home during the third quarter worth about $1,899,000. Sheets Smith Wealth Management purchased a new stake in shares of Taylor Morrison Home during the fourth quarter worth approximately $550,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in Taylor Morrison Home by 26.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,362,020 shares of the construction company’s stock valued at $95,696,000 after acquiring an additional 282,227 shares in the last quarter. 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.