Taylor Morrison Home (NYSE:TMHC) had its price target boosted by investment analysts at Deutsche Bank from $27.00 to $28.00 in a research report issued to clients and investors on Friday. The brokerage currently has a “buy” rating on the construction company’s stock. Deutsche Bank’s target price would indicate a potential upside of 17.35% from the company’s previous close.
Other equities analysts have also issued reports about the stock. Wedbush restated a “neutral” rating and issued a $27.00 price objective on shares of Taylor Morrison Home in a report on Friday, January 12th. ValuEngine lowered shares of Taylor Morrison Home from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 2nd. Citigroup upgraded 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 report on Tuesday, January 2nd. BidaskClub lowered shares of Taylor Morrison Home from a “buy” rating to a “hold” rating in a report on Saturday, November 4th. Finally, B. Riley restated a “neutral” rating on shares of Taylor Morrison Home 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 seven have issued a buy rating to the company’s stock. Taylor Morrison Home currently has a consensus rating of “Buy” and an average price target of $28.33.
Taylor Morrison Home (TMHC) traded down $0.06 during mid-day trading on Friday, hitting $23.86. 122,566 shares of the stock traded hands, compared to its average volume of 2,410,415. Taylor Morrison Home has a 1 year low of $19.30 and a 1 year high of $28.42. The stock has a market capitalization of $2,900.45, a price-to-earnings ratio of 16.28, a price-to-earnings-growth ratio of 0.78 and a beta of 1.44. 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 released its earnings results on Wednesday, February 7th. The construction company reported $0.77 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.07. Taylor Morrison Home had a net margin of 2.36% and a return on equity of 5.82%. The firm had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same period last year, the business earned $0.63 earnings per share. The business’s revenue was up 8.6% on a year-over-year basis. analysts forecast that Taylor Morrison Home will post 2.6 earnings per share for the current year.
Taylor Morrison Home announced that its Board of Directors has authorized a share repurchase plan on Wednesday, January 3rd that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the construction company to purchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its shares are undervalued.
In other Taylor Morrison Home news, insider Group Holdings (Sbs) Advis Tpg sold 1,499,732 shares of the business’s stock in a transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Joseph Terracciano sold 5,788 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $23.97, for a total transaction of $138,738.36. Following the sale, the insider now owns 4,168 shares of the company’s stock, valued at $99,906.96. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the company. California Public Employees Retirement System grew its position in shares of Taylor Morrison Home by 6.5% during 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 acquiring an additional 4,943 shares during the period. Bank of New York Mellon Corp grew its position in shares of Taylor Morrison Home by 13.0% during 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 acquiring an additional 40,989 shares during the period. Wells Fargo & Company MN grew its position in shares of Taylor Morrison Home by 17.1% during the 3rd quarter. Wells Fargo & Company MN now owns 536,937 shares of the construction company’s stock valued at $11,839,000 after acquiring an additional 78,602 shares during the period. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in Taylor Morrison Home by 4.3% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 288,112 shares of the construction company’s stock worth $6,353,000 after buying an additional 11,999 shares during the period. Finally, State Street Corp boosted its holdings in Taylor Morrison Home by 80.9% in the 2nd quarter. State Street Corp now owns 1,902,461 shares of the construction company’s stock worth $45,680,000 after buying an additional 850,685 shares during the period. 64.57% of the stock is 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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