Taylor Morrison Home (NYSE:TMHC – Get Free Report) was downgraded by StockNews.com from “buy” to “hold” in a research note issued to investors on Friday.
Several other equities analysts have also issued reports on TMHC. Wedbush reiterated an “outperform” rating and issued a $61.00 price target on shares of Taylor Morrison Home in a report on Thursday, May 30. Barclays decreased their price target on Taylor Morrison Home from $65.00 to $62.00 and issued an “equal weight” rating on the stock in a research report on Friday, July 12. Royal Bank of Canada increased their price target on Taylor Morrison Home from $61.00 to $63.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1. Finally, Zelman & Associates upgraded Taylor Morrison Home from an “underperform” rating to a “neutral” rating in a report on Friday, April 12. Four analysts have rated the stock with a “hold” rating and three have given a “buy” rating. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $59.80.
Read our latest research report on TMHC
Taylor Morrison Home shares rise 0.4%
NYSE TMHC shares opened at $64.63 on Friday. The stock’s 50-day moving average price is $57.25 and its 200-day moving average price is $56.28. Taylor Morrison Home has a 12-month low of $37.23 and a 12-month high of $67.66. The company has a liquidity ratio of 6.16, a quick ratio of 0.91 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $6.84 billion, a price-to-earnings ratio of 9.25 and a beta of 1.95.
Taylor Morrison Home (NYSE:TMHC – Get Free Report) released its latest earnings results on Tuesday, April 30. The home improvement company reported earnings per share (EPS) of $1.75 for the quarter, beating analysts’ consensus estimates of $1.57 by $0.18. The company had revenue of $1.70 billion for the quarter, compared to analyst expectations of $1.66 billion. Taylor Morrison Home had a return on equity of 15.75% and a net margin of 10.30%. The company’s revenue for the quarter increased 2.3% compared to the year-ago quarter. In the year-ago quarter, the company generated earnings per share of $1.74. As a group, analysts forecast that Taylor Morrison Home will report earnings per share of $7.62 for the current fiscal year.
Insider activity
In related news, CEO Sheryl Palmer sold 100,000 shares of Taylor Morrison Home stock on Wednesday, May 15. The shares were sold at an average price of $61.70, for a total transaction of $6,170,000.00. Following the completion of the sale, the CEO now owns 19,211 shares of the company’s stock, valued at $1,185,318.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Sheryl Palmer sold 100,000 shares of the company’s stock on Wednesday, May 15. The shares were sold at an average price of $61.70, for a total transaction of $6,170,000.00. Following the sale, the CEO now owns 19,211 shares of the company’s stock, valued at approximately $1,185,318.70. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director William H. Lyon sold 30,000 shares of the company’s stock on Tuesday, July 16. The shares were sold at an average price of $64.33, for a total transaction of $1,929,900.00. Following the completion of the transaction, the director now owns 2,255,316 shares of the company’s stock, valued at $145,084,478.28. The disclosure of this sale can be found here. 3.50% of the shares are owned by company insiders.
Institutional investors comment on Taylor Morrison’s house
Several institutional investors have recently increased or reduced their holdings in TMHC. Nordea Investment Management AB increased its holdings in shares of Taylor Morrison Home by 30.4% in the 4th quarter. Nordea Investment Management AB now owns 108,431 shares of the construction company’s stock valued at $5,823,000 after acquiring an additional 25,250 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Taylor Morrison Home by 4,586.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 663,385 shares of the construction company’s stock valued at $41,243,000 after acquiring an additional 649,230 shares in the last quarter. TCW Group Inc. increased its holdings in shares of Taylor Morrison Home by 118.2% in the fourth quarter. TCW Group Inc. now owns 57,315 shares of the construction company’s stock valued at $3,058,000 after acquiring an additional 31,045 shares in the last quarter. Sei Investments Co. increased its stake in Taylor Morrison Home by 36.7% in the 1st quarter. Sei Investments Co. now owns 366,987 shares of the construction company’s stock valued at $22,816,000 after acquiring an additional 98,539 shares in the last quarter. Finally, Journey Strategic Wealth LLC bought a new position in shares of Taylor Morrison Home in the 4th quarter valued at around $235,000. Hedge funds and other institutional investors own 95.16% of the company’s stock.
About Taylor Morrison Home
(Get free report)
Taylor Morrison Home Corporation, together with its subsidiaries, operates as a public housing developer in the United States. The company designs, builds and sells single-family, multi-family and townhomes and develops lifestyle and master-planned communities. It develops and builds multi-use properties consisting of commercial space, retail stores and multifamily housing under the Urban Form brand name.
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