Taylor Morrison Home (NYSE:TMHC – Get Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday, Zacks.com reports.
According to Zacks, “Taylor Morrison Home Corporation is a homebuilder and land developer engaged in building single-family detached and attached homes for first-time buyers, move-up families to luxury and active adult customers. The company operates under the Taylor Morrison brand, Monarch brand and Darling Homes brand. It operates in Arizona, California, Colorado, Florida and Texas. Taylor Morrison Home Corporation is headquartered in Scottsdale, Arizona. “
Several other analysts also recently commented on TMHC. StockNews.com initiated coverage on Taylor Morrison Home in a research note on Thursday, March 31st. They set a “hold” rating for the company. JPMorgan Chase & Co. dropped their price objective on Taylor Morrison Home from $40.00 to $30.00 and set an “overweight” rating for the company in a research note on Wednesday, April 13th. B. Riley dropped their price objective on Taylor Morrison Home from $45.00 to $36.00 and set a “buy” rating for the company in a research note on Wednesday, April 6th. Barclays downgraded Taylor Morrison Home from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $41.00 to $33.00 in a research note on Thursday, March 31st. Finally, Credit Suisse Group started coverage on Taylor Morrison Home in a research note on Tuesday, April 5th. They issued a “neutral” rating and a $32.00 price objective for the company. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $34.29.
NYSE:TMHC opened at $28.62 on Tuesday. The stock has a 50-day simple moving average of $28.98 and a 200-day simple moving average of $30.57. The stock has a market cap of $3.47 billion, a P/E ratio of 5.47 and a beta of 1.78. Taylor Morrison Home has a 1 year low of $22.64 and a 1 year high of $35.51. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.03 and a current ratio of 5.38.
Taylor Morrison Home (NYSE:TMHC – Get Rating) last announced its earnings results on Tuesday, February 8th. The construction company reported $2.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.09 by $0.10. The firm had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.60 billion. Taylor Morrison Home had a return on equity of 17.63% and a net margin of 8.84%. The business’s revenue was up 60.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.87 EPS. On average, equities research analysts predict that Taylor Morrison Home will post 8.32 EPS for the current year.
In other news, Director Denise Warren sold 3,671 shares of the firm’s stock in a transaction on Monday, February 14th. The stock was sold at an average price of $29.50, for a total transaction of $108,294.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have sold 5,149 shares of company stock worth $152,974 in the last 90 days. Insiders own 5.80% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of TMHC. Apollo Management Holdings L.P. purchased a new position in shares of Taylor Morrison Home in the 3rd quarter worth $47,248,000. William Blair Investment Management LLC raised its position in shares of Taylor Morrison Home by 51,216.4% in the 3rd quarter. William Blair Investment Management LLC now owns 1,747,323 shares of the construction company’s stock worth $45,046,000 after buying an additional 1,743,918 shares during the period. Norges Bank purchased a new position in shares of Taylor Morrison Home in the 4th quarter worth $43,125,000. Artemis Investment Management LLP purchased a new position in shares of Taylor Morrison Home in the 4th quarter worth $11,867,000. Finally, Panagora Asset Management Inc. raised its position in shares of Taylor Morrison Home by 130,295.4% in the 3rd quarter. Panagora Asset Management Inc. now owns 281,654 shares of the construction company’s stock worth $7,261,000 after buying an additional 281,438 shares during the period. 93.51% of the stock is currently owned by institutional investors and hedge funds.
About Taylor Morrison Home (Get Rating)
Taylor Morrison Home Corporation, together with its subsidiaries, operates as a public homebuilder in the United States. The company designs, builds, and sells single and multi-family detached and attached homes; and develops lifestyle and master-planned communities. It also develops and constructs multi-use properties consisting of commercial space, retail, and multi-family properties under the Urban Form brand name; and offers title insurance and closing settlement services, as well as financial services.
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