Taylor Morrison Home (NYSE:TMHC – Free Report) Barclays cut its price target from $65.00 to $62.00 in a research report sent to investors on Friday, Benzinga reports. The firm currently has an equal-weight rating on the construction company’s stock.
A number of other equities analysts also recently commented on the company. Wedbush reiterated an outperform rating and set a $61.00 price target on shares of Taylor Morrison Home in a research report on Thursday, May 30. Zelman & Associates upgraded Taylor Morrison Home from an underperform rating to a neutral rating in a research report on Friday, April 12. Royal Bank of Canada increased their price target on shares of Taylor Morrison Home from $61.00 to $63.00 and gave the company an outperform rating in a research note on Wednesday, May 1. Finally, StockNews.com upgraded shares of Taylor Morrison Home from a hold rating to a buy rating in a research note on Thursday. Three analysts have rated the stock with a hold rating and four have given a buy rating. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $59.80.
Read our latest analysis on Taylor Morrison Home
Taylor Morrison Home share price development
TMHC opened at $61.06 on Friday. The company has a market cap of $6.46 billion, a price-to-earnings ratio of 8.74, and a beta of 1.95. The company has a debt-to-equity ratio of 0.39, a current ratio of 6.16, and a quick ratio of 0.91. Taylor Morrison Home has a 1-year low of $37.23 and a 1-year high of $62.64. The company has a 50-day moving average price of $56.84 and a 200-day moving average price of $56.00.
Taylor Morrison Home (NYSE:TMHC – Get Free Report) last announced its quarterly results on Tuesday, April 30. The home improvement company reported earnings per share of $1.75 for the quarter, beating analysts’ consensus estimates of $1.57 by $0.18. Taylor Morrison Home had a return on equity of 15.75% and a net margin of 10.30%. The company posted revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.66 billion. In the same quarter last year, the company posted earnings per share of $1.74. The company’s quarterly revenue grew by 2.3% compared to the same quarter last year. Research analysts forecast that Taylor Morrison Home will report earnings per share of $7.62 for the current fiscal year.
Insider transactions at Taylor Morrison Home
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 value of $6,170,000.00. Following the transaction, the CEO now directly owns 19,211 shares of the company’s stock, valued at $1,185,318.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 3.50% of the shares are currently owned by company insiders.
Hedge funds comment on Taylor Morrison’s house
Several hedge funds have recently made changes to their holdings in TMHC. Norges Bank acquired a new position in shares of Taylor Morrison Home in the fourth quarter valued at $63,137,000. Allspring Global Investments Holdings LLC increased its position in 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 buying an additional 649,230 shares in the last quarter. Assenagon Asset Management SA increased its position in Taylor Morrison Home by 3,268.0% in the fourth quarter. Assenagon Asset Management SA now owns 452,087 shares of the construction company’s stock valued at $24,119,000 after buying an additional 438,664 shares in the last quarter. Assetmark Inc. increased its position in Taylor Morrison Home by 99.3% in the fourth quarter. Assetmark Inc. now owns 786,812 shares of the construction company’s stock worth $41,976,000 after purchasing an additional 391,964 shares in the last quarter. Finally, Lord Abbett & CO. LLC increased its position in Taylor Morrison Home by 203.0% in the first quarter. Lord Abbett & CO. LLC now owns 440,717 shares of the construction company’s stock worth $27,400,000 after purchasing an additional 295,256 shares in the last quarter. 95.16% of the shares are owned by institutional investors and hedge funds.
Taylor Morrison Home Company Profile
(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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