Barclays set a $27.00 target price on Taylor Morrison Home (NYSE:TMHC) in a research report released on Monday, January 8th. The firm currently has a hold rating on the construction company’s stock.
TMHC has been the subject of several other research reports. Susquehanna Bancshares raised shares of Taylor Morrison Home from a neutral rating to a positive rating in a research report on Thursday, January 4th. UBS Group raised shares of Taylor Morrison Home from a neutral rating to a positive rating in a research report on Thursday, January 4th. Zacks Investment Research downgraded shares of Taylor Morrison Home from a hold rating to a sell rating in a research report on Friday, January 5th. Wells Fargo & Co raised shares of Taylor Morrison Home from a market perform rating to an outperform rating and set a $32.00 price objective for the company in a research report on Friday, January 5th. Finally, Citigroup raised shares of Taylor Morrison Home from a neutral rating to a buy rating and set a $30.00 price objective for the company in a research report on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. Taylor Morrison Home has a consensus rating of Hold and an average price target of $27.57.
Taylor Morrison Home (NYSE TMHC) opened at $24.79 on Monday. Taylor Morrison Home has a 1-year low of $18.41 and a 1-year high of $28.42. The company has a debt-to-equity ratio of 0.63, a current ratio of 6.85 and a quick ratio of 0.81. The company has a market cap of $3,070.22, a price-to-earnings ratio of 13.47, a price-to-earnings-growth ratio of 0.84 and a beta of 1.44.
Taylor Morrison Home announced that its board has approved a stock repurchase plan on Wednesday, January 3rd that allows the company to buyback $200.00 million in shares. This buyback authorization allows the construction company to purchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.
In related news, insider Group Holdings (Sbs) Advis Tpg sold 1,499,732 shares of the stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $27.14, for a total transaction of $40,702,726.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.40% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in TMHC. Bank of New York Mellon Corp increased its stake in Taylor Morrison Home by 13.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 356,953 shares of the construction company’s stock valued at $7,871,000 after buying an additional 40,989 shares during the period. BlackRock Inc. increased its stake in Taylor Morrison Home by 51.5% in the 2nd quarter. BlackRock Inc. now owns 6,585,230 shares of the construction company’s stock valued at $158,111,000 after buying an additional 2,239,679 shares during the period. California Public Employees Retirement System increased its stake in Taylor Morrison Home by 6.5% in the 3rd quarter. California Public Employees Retirement System now owns 80,843 shares of the construction company’s stock valued at $1,783,000 after buying an additional 4,943 shares during the period. Capital Growth Management LP acquired a new position in Taylor Morrison Home in the 2nd quarter valued at approximately $1,801,000. Finally, Wells Fargo & Company MN increased its stake in Taylor Morrison Home by 17.1% in the 3rd quarter. Wells Fargo & Company MN now owns 536,937 shares of the construction company’s stock valued at $11,839,000 after buying an additional 78,602 shares during the period. Institutional investors and hedge funds own 57.68% of the company’s stock.
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Taylor Morrison Home Company Profile
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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