Taylor Morrison Home (NYSE:TMHC)‘s stock had its “neutral” rating reiterated by equities research analysts at Wedbush in a research note issued on Friday, January 12th. They presently have a $27.00 price target on the construction company’s stock. Wedbush’s price target indicates a potential downside of 2.67% from the stock’s current price.
A number of other equities research analysts have also recently weighed in on the company. ValuEngine cut Taylor Morrison Home from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 2nd. BidaskClub lowered Taylor Morrison Home from a “buy” rating to a “hold” rating in a research report on Saturday, November 4th. B. Riley reissued a “neutral” rating on shares of Taylor Morrison Home in a report on Thursday, November 2nd. Citigroup raised Taylor Morrison Home from a “neutral” rating to a “buy” rating and set a $30.00 price objective on the stock in a report on Tuesday, January 2nd. Finally, Susquehanna Bancshares raised Taylor Morrison Home from a “neutral” rating to a “positive” rating in a report on Thursday, January 4th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. Taylor Morrison Home has a consensus rating of “Hold” and an average target price of $27.57.
Shares of Taylor Morrison Home (TMHC) traded up $0.40 during mid-day trading on Friday, hitting $27.74. The company’s stock had a trading volume of 1,724,630 shares, compared to its average volume of 2,216,470. Taylor Morrison Home has a twelve month low of $18.26 and a twelve month high of $28.42. The stock has a market cap of $3,316.51, a PE ratio of 14.91, a price-to-earnings-growth ratio of 0.92 and a beta of 1.47. The company has a quick ratio of 0.81, a current ratio of 6.85 and a debt-to-equity ratio of 0.63.
Taylor Morrison Home (NYSE:TMHC) last issued its quarterly earnings data on Wednesday, November 1st. The construction company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.04. The firm had revenue of $908.00 million during the quarter, compared to analysts’ expectations of $914.19 million. Taylor Morrison Home had a return on equity of 4.18% and a net margin of 2.41%. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.49 EPS. analysts forecast that Taylor Morrison Home will post 1.86 EPS for the current fiscal year.
Taylor Morrison Home declared that its Board of Directors has initiated a share repurchase program on Wednesday, January 3rd that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the construction company to reacquire shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.
In related news, insider Group Holdings (Sbs) Advis Tpg sold 1,499,732 shares of Taylor Morrison Home stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $27.14, for a total transaction of $40,702,726.48. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider C. David Cone sold 35,000 shares of Taylor Morrison Home stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $23.79, for a total value of $832,650.00. Following the transaction, the insider now owns 42,511 shares in the company, valued at approximately $1,011,336.69. The disclosure for this sale can be found here. Corporate insiders own 2.40% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. Great West Life Assurance Co. Can increased its stake in Taylor Morrison Home by 52.9% during the second quarter. Great West Life Assurance Co. Can now owns 6,882 shares of the construction company’s stock worth $165,000 after acquiring an additional 2,382 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in Taylor Morrison Home by 79.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 371,160 shares of the construction company’s stock worth $8,912,000 after acquiring an additional 164,563 shares during the last quarter. Rhumbline Advisers increased its stake in Taylor Morrison Home by 56.8% during the second quarter. Rhumbline Advisers now owns 65,577 shares of the construction company’s stock worth $1,575,000 after acquiring an additional 23,752 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Taylor Morrison Home during the second quarter worth $184,000. Finally, Bank of New York Mellon Corp increased its stake in Taylor Morrison Home by 25.6% during the second quarter. Bank of New York Mellon Corp now owns 315,964 shares of the construction company’s stock worth $7,586,000 after acquiring an additional 64,337 shares during the last quarter. Hedge funds and other institutional investors own 59.04% of the company’s stock.
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About Taylor Morrison Home
Taylor Morrison Home Corporation is a homebuilder, which designs, builds and sells single-family detached and attached homes. The Company is also a land developer, with a portfolio of lifestyle and master-planned communities. Its segments include East, which includes Atlanta, Charlotte, North Florida, Raleigh, Southwest Florida and Tampa; Central, which includes Austin, Dallas, and Houston (each of the Dallas and Houston markets include both a Taylor Morrison division and a Darling Homes division); West, which includes Bay Area, Chicago, Denver, Phoenix, Sacramento and Southern California, and Mortgage Operations, which includes Taylor Morrison Home Funding, LLC (TMHF) and Inspired Title Services, LLC (Inspired Title).
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