Taylor Morrison Home (NYSE:TMHC) Stock Rating Upgraded by Citigroup

Taylor Morrison Home (NYSE:TMHC) was upgraded by investment analysts at Citigroup from a “neutral” rating to a “buy” rating in a note issued to investors on Tuesday, January 2nd, MarketBeat reports. The brokerage currently has a $30.00 price target on the construction company’s stock. Citigroup’s price objective indicates a potential upside of 5.60% from the company’s current price.

A number of other equities research analysts have also recently weighed in on TMHC. BidaskClub raised Taylor Morrison Home from a “sell” rating to a “hold” rating in a research note on Thursday, September 28th. B. Riley reiterated a “neutral” rating on shares of Taylor Morrison Home in a report on Thursday, November 2nd. Finally, ValuEngine lowered Taylor Morrison Home from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $27.67.

Taylor Morrison Home (NYSE TMHC) traded up $0.95 during trading hours on Tuesday, hitting $28.41. The company had a trading volume of 2,294,132 shares, compared to its average volume of 2,679,466. Taylor Morrison Home has a 12-month low of $18.26 and a 12-month high of $28.42. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.81 and a current ratio of 6.85. The firm has a market capitalization of $3,330.00, a PE ratio of 45.82, a PEG ratio of 0.98 and a beta of 1.47.

Taylor Morrison Home (NYSE:TMHC) last posted its quarterly earnings results on Wednesday, November 1st. The construction company reported $0.45 EPS for the quarter, beating the consensus estimate 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 business’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.49 earnings per share. sell-side analysts forecast that Taylor Morrison Home will post 1.84 EPS for the current year.

Taylor Morrison Home declared that its Board of Directors has initiated a stock buyback plan on Wednesday, January 3rd that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the construction company to buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

In other Taylor Morrison Home news, insider C. David Cone sold 35,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $23.79, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.40% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Taylor Morrison Home by 20.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,409 shares of the construction company’s stock worth $154,000 after purchasing an additional 1,110 shares during the period. Victory Capital Management Inc. grew its stake in shares of Taylor Morrison Home by 17.6% during the second quarter. Victory Capital Management Inc. now owns 7,429 shares of the construction company’s stock valued at $178,000 after acquiring an additional 1,114 shares in the last quarter. Ameritas Investment Partners Inc. grew its stake in shares of Taylor Morrison Home by 62.3% during the second quarter. Ameritas Investment Partners Inc. now owns 5,369 shares of the construction company’s stock valued at $129,000 after acquiring an additional 2,060 shares in the last quarter. Great West Life Assurance Co. Can lifted its holdings in Taylor Morrison Home by 52.9% in 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. Finally, Smith Asset Management Group LP lifted its holdings in Taylor Morrison Home by 18.1% in the third quarter. Smith Asset Management Group LP now owns 20,286 shares of the construction company’s stock worth $447,000 after acquiring an additional 3,103 shares during the last quarter. 59.08% of the stock is currently owned by hedge funds and other institutional investors.

ILLEGAL ACTIVITY WARNING: This news story was reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this news story on another publication, it was illegally stolen and reposted in violation of United States and international copyright law. The legal version of this news story can be read at https://www.dispatchtribunal.com/2018/01/11/taylor-morrison-home-tmhc-stock-rating-upgraded-by-citigroup.html.

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).

Analyst Recommendations for Taylor Morrison Home (NYSE:TMHC)

Receive News & Ratings for Taylor Morrison Home Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Taylor Morrison Home and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply