The stock of Taylor Morrison Home Corporation (NYSE:TMHC) is now priced at $24.85 and the shares are 1.32 points up or 5.61% higher compared to its previous closing price of $23.53. The stock had 1.274 million contracts set over the past session. TMHC shares’ daily volume is compared to its average trading volume at 1.639 million shares. However, it has a float of 125 million and although its performance was -3.68% over the week, it’s one to watch. Analysts have given the TMHC stock a yearly average price target of $20.5 per share. It means the stock’s downside potential is -17.51% with the TMHC share price recently placing at $22.96 to $24.885. However, some brokerage firms have priced the stock below the average, including one that has called $22.
The shorts are running away from the Taylor Morrison Home Corporation stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the TMHC shares have declined. Short interest in the stock represents just 3.78% of its float, but the volume has dropped by 0.
In the last trading session, Taylor Morrison Home Corporation (NYSE:TMHC) dropped by -$0.95 over the week and gained $1.71 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $28.47. The stock recorded its established 52-week high on 02/21/20.
Since 03/19/20, the stock has traded to a low of $6.39 at 288.89%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 1.81. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Taylor Morrison Home Corporation’s two-week RSI is 56.16. This suggests that the stock is neutral at the moment and that TMHC shares’ price movement remains stable. The stochastic readings are equally revealing at 28.44% meaning the TMHC share price is currently in overbought territory.
The technical chart shows that the TMHC stock will likely settle at between $25.5 and $26.16 per share. However, if the stock dips below $23.58, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $22.31.
Currently, the stock is trading in the red of MACD, with a reading of -0.7. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at BTIG Research raised their recommendation for TMHC from Neutral to Buy in July 21 review while maintain their target price of $30. JP Morgan analysts upgraded their recommendation of the stock from Neutral to Overweight in a flash note released to investors on June 11. JP Morgan seeing the stock struggling downgraded it from Overweight to Neutral on March 18 placing it at $10.
The average rating for the TMHC equity is 2.25 and is currently gathering a bullish momentum. Of 8 analysts tracking Taylor Morrison Home Corporation polled by Reuters, 2 rated TMHC as a hold. The remaining 6 analysts were split evenly. However, the split wasn’t equal as a majority (6) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the TMHC stock price is 7.33X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 17.6 above the group’s average of 12.9. Taylor Morrison Home Corporation has its P/E ratio at 1, which means that the stock is currently trading at a discount relative to the 2 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Taylor Morrison Home Corporation (NYSE:TMHC) will decrease by about -5.7%, which will see them reach $1440 million. The company’s full-year revenues are, however, expected to increase by about 20.56%, up from $4620 million to $5570 million. TMHC’s expected adjusted earnings should drop almost -3.17% to end up at $0.61 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -32.77% to record $1.58/share.