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.
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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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