Wedbush reaffirmed their neutral rating on shares of Taylor Morrison Home (NYSE:TMHC) in a report released on Friday morning. They currently have a $27.00 price objective on the construction company’s stock.
A number of other research firms have also issued reports on TMHC. BidaskClub upgraded shares of Taylor Morrison Home from a hold rating to a buy rating in a report on Wednesday, October 4th. ValuEngine lowered shares of Taylor Morrison Home from a strong-buy rating to a buy rating in a report on Thursday, November 2nd. Wells Fargo & Co upgraded shares of Taylor Morrison Home from a market perform rating to an outperform rating and set a $32.00 target price on the stock in a report on Friday, January 5th. UBS Group upgraded shares of Taylor Morrison Home from a neutral rating to a positive rating in a report on Thursday, January 4th. Finally, Citigroup upgraded shares of Taylor Morrison Home from a neutral rating to a buy rating and set a $30.00 target price on the stock in a report on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, five have assigned 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 a consensus target price of $27.57.
Taylor Morrison Home (TMHC) traded down $0.66 during trading on Friday, hitting $27.75. 9,914,762 shares of the company traded hands, compared to its average volume of 3,483,667. Taylor Morrison Home has a 1-year low of $18.26 and a 1-year high of $28.42. The company has a quick ratio of 0.81, a current ratio of 6.85 and a debt-to-equity ratio of 0.63. The stock has a market cap of $3,317.71, a price-to-earnings ratio of 15.08, a PEG ratio of 0.96 and a beta of 1.47.
Taylor Morrison Home (NYSE:TMHC) last released its quarterly earnings data on Wednesday, November 1st. The construction company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.41 by $0.04. Taylor Morrison Home had a net margin of 2.41% and a return on equity of 4.18%. The business had revenue of $908.00 million for the quarter, compared to analyst estimates of $914.19 million. During the same period in the previous year, the firm earned $0.49 EPS. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. research analysts forecast that Taylor Morrison Home will post 1.85 earnings per share for the current fiscal year.
Taylor Morrison Home declared that its board has approved a share buyback plan on Wednesday, January 3rd that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the construction company to reacquire shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.
In other news, insider C. David Cone sold 35,000 shares of the company’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $23.79, for a total transaction of $832,650.00. Following the completion of the transaction, the insider now owns 42,511 shares of the company’s stock, valued at approximately $1,011,336.69. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 2.40% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of TMHC. Vanguard Group Inc. increased its position in Taylor Morrison Home by 72.8% during the 2nd quarter. Vanguard Group Inc. now owns 7,031,797 shares of the construction company’s stock worth $168,834,000 after purchasing an additional 2,962,990 shares in the last quarter. BlackRock Inc. increased its position in Taylor Morrison Home by 51.5% during the 2nd quarter. BlackRock Inc. now owns 6,585,230 shares of the construction company’s stock worth $158,111,000 after purchasing an additional 2,239,679 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Taylor Morrison Home by 76.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,501,577 shares of the construction company’s stock worth $84,072,000 after purchasing an additional 1,519,523 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Taylor Morrison Home by 323.8% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,917,434 shares of the construction company’s stock worth $46,038,000 after purchasing an additional 1,465,003 shares in the last quarter. Finally, Greenhaven Associates Inc. increased its position in Taylor Morrison Home by 94.9% during the 3rd quarter. Greenhaven Associates Inc. now owns 2,526,244 shares of the construction company’s stock worth $55,704,000 after purchasing an additional 1,229,844 shares in the last quarter. 59.04% of the stock is owned by 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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