Taylor Morrison Home (NYSE:TMHC)‘s stock had its “neutral” rating reiterated by equities research analysts at Wedbush in a research report issued to clients and investors on Friday, January 12th. They currently have a $27.00 price objective on the construction company’s stock. Wedbush’s price objective points to a potential downside of 1.24% from the stock’s current price.
TMHC has been the topic of several other reports. Barclays set a $27.00 price target on shares of Taylor Morrison Home and gave the stock a “hold” rating in a research report on Monday, January 8th. 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 lowered shares of Taylor Morrison Home from a “hold” rating to a “sell” rating in a research report on Friday, January 5th. Finally, Wells Fargo & Co raised shares of Taylor Morrison Home from a “market perform” rating to an “outperform” rating and set a $32.00 price target on the stock in a research report on Friday, January 5th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. Taylor Morrison Home currently has an average rating of “Hold” and a consensus price target of $27.57.
Taylor Morrison Home (NYSE TMHC) opened at $27.34 on Friday. The firm has a market cap of $3,315.31, a P/E ratio of 14.86, a PEG ratio of 0.92 and a beta of 1.47. 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.
Taylor Morrison Home (NYSE:TMHC) last released its quarterly earnings results on Wednesday, November 1st. The construction company reported $0.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.04. The company had revenue of $908.00 million during the quarter, compared to analysts’ expectations of $914.19 million. Taylor Morrison Home had a net margin of 2.41% and a return on equity of 4.18%. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.49 earnings per share. sell-side analysts expect that Taylor Morrison Home will post 1.86 EPS for the current fiscal year.
Taylor Morrison Home declared that its Board of Directors has authorized 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 purchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.
In other news, insider C. David Cone sold 35,000 shares of the stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $23.79, for a total value of $832,650.00. Following the transaction, the insider now directly owns 42,511 shares of the company’s stock, valued at $1,011,336.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.40% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in TMHC. Great West Life Assurance Co. Can grew its stake in shares of 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 valued at $165,000 after acquiring an additional 2,382 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in shares of Taylor Morrison Home by 79.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 371,160 shares of the construction company’s stock valued at $8,912,000 after acquiring an additional 164,563 shares in the last quarter. Rhumbline Advisers grew its stake in Taylor Morrison Home by 56.8% during the second quarter. Rhumbline Advisers now owns 65,577 shares of the construction company’s stock worth $1,575,000 after buying an additional 23,752 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Taylor Morrison Home during the second quarter worth about $184,000. Finally, Bank of New York Mellon Corp grew its stake in Taylor Morrison Home by 25.6% during the second quarter. Bank of New York Mellon Corp now owns 315,964 shares of the construction company’s stock worth $7,586,000 after buying an additional 64,337 shares in the last quarter. Institutional investors and hedge funds own 59.04% 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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