Fidelity Management & Research Co.. recently announced the acquisition of new stake in Taylor Morrison Home Corporation (NYSE:TMHC). The institutional investor has increased its shareholding in the Consumer Cyclical company by 120.23% to 9.75 million shares with purchase of 5.32 million shares. This fresh investment now brings its stake to 7.52% valued currently at $228.54 million. In addition, Oaktree Capital Management LP raised its holdings by 1.61 million to 6.43 million shares. And Miller Value Partners LLC has lifted its position by 115.83% or 1.86 million shares – to 3.47 million shares.
With over 1.35 million Taylor Morrison Home Corporation (TMHC) shares trading Tuesday and a closing price of $24.85 on the day, the dollar volume was approximately $33.56 million. The shares have shown a negative weekly performance of -3.68% and its price on 09/01/20 gained nearly 5.61%. Currently, there are 129.63M common shares owned by the public and among those 125.13M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 8 analysts who have offered their price forecasts for TMHC have a consensus price objective of $27.88. The analysts have set the share’s price value over the next 12 months at a high of $32.00 and a low of $22.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Taylor Morrison Home Corporation stock is 2.20 for the next 12 months. The average price target is -21.22% below its last price level and a downside to the estimated low will see the stock lose -12.95% over that period. But an upside of 22.34% will see the stock hit the forecast high price target while mean target price for the stock is $28.50.
Insiders at the company have transacted a total of 78 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 40 of these insider trades were purchases, accounting for 4,461,317 shares. Insider sales of the common stock occurred on 38 occasions, with total insider shares sold totaling 582,131 shares.
The top 3 mutual fund holders in Taylor Morrison Home Corporation are DFA US Small Cap Value Portfolio, Vanguard Selected Value Fund, and Vanguard Total Stock Market Index. DFA US Small Cap Value Portfolio owns 4.51 million shares of the company’s stock, all valued at over $105.66 million. The company bought an additional 0.54 million shares recently to bring their total holdings to about 3.48% of the shares outstanding. Vanguard Total Stock Market Index sold 41318.0 shares to bring its total holdings to over 3.48 million shares at a value of $81.65 million. Vanguard Total Stock Market Index now owns shares totaling to 2.69% of the shares outstanding.
Shares of Taylor Morrison Home Corporation (NYSE: TMHC) opened at $23.40, down -$0.13 from a prior closing price of $23.53. However, the script later closed the day at $24.85, up 5.61%. The company’s stock has a 5-day price change of -3.68% and 19.99% over the past three months. TMHC shares are trading 13.68% year to date (YTD), with the 12-month market performance up to 2.86% higher. It has a 12-month low price of $6.39 and touched a high of $28.47 over the same period. Currently, 1.35 million shares have been traded, compared to an average intraday trading volume of 1.64 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 1.65%, 9.35%, and 22.58% respectively.
Institutional ownership of Taylor Morrison Home Corporation (NYSE: TMHC) 129.63M shares outstanding. Mutual fund holders own 4.74%, while other institutional holders and individual stakeholders account for 60.15% and 39.65% respectively.
It has a market capitalization of $3.22B and a beta (3y monthly) value of 1.81. The stock’s trailing 12-month PE ratio is 17.98, while the earnings-per-share (ttm) stands at $1.38. The company has a PEG of 3.33 and the debt-to-equity ratio at 1.14. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.98% over the week and 3.91% over the month.
Analysts forecast that Taylor Morrison Home Corporation (TMHC) will achieve an EPS of $0.61 for the current quarter, $0.68 for the next quarter and $3.39 for 2021. The lowest estimate earnings-per-share for the quarter is $0.51 while analysts give the company a high EPS estimate of $0.7. Comparatively, EPS for the current quarter was $0.63 a year ago. Earnings per share for the fiscal year are expected to increase by 31.20%, and 114.69% over the next financial year. EPS should grow at an annualized rate of 5.40% over the next five years, compared to 2.40% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 8 brokerage firm advisors rate Taylor Morrison Home Corporation (TMHC) as a “Moderate Buy” at a consensus score of 2.20. Specifically, 6 Wall Street analysts polled rate the stock as a buy, while 2 of the 8 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the TMHC, a number of firms have released research notes about the stock. BTIG Research stated their Buy rating for the stock in a research note on July 21, 2020, with the firm’s price target at $30. JP Morgan coverage for the Taylor Morrison Home Corporation (TMHC) stock in a research note released on June 11, 2020 offered a Overweight rating with a price target of. JP Morgan was of a view on March 18, 2020 that the stock is Neutral, while JP Morgan gave the stock Overweight rating on February 10, 2020, issuing a price target of $29- $33. B. Riley FBR on their part issued Buy rating on August 01, 2019.