Taylor Morrison Home (NYSE:TMHC) Rating Increased to Outperform at Wolfe Research

Taylor Morrison Home (NYSE:TMHC) was upgraded by equities researchers at Wolfe Research from a “peer perform” rating to an “outperform” rating in a research note issued to investors on Wednesday. The firm presently has a $76.00 price objective on the construction company’s stock. Wolfe Research’s price objective would indicate a potential upside of 26.75% from the stock’s previous close.

Other analysts also recently issued research reports about the company. BTIG Research upped their price target on Taylor Morrison Home from $78.00 to $86.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Wedbush raised Taylor Morrison Home from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $65.00 to $85.00 in a research report on Friday, October 25th. Barclays raised shares of Taylor Morrison Home from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $75.00 to $90.00 in a research report on Wednesday, December 11th. Royal Bank of Canada upped their price objective on shares of Taylor Morrison Home from $74.00 to $77.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, Raymond James reiterated an “outperform” rating and issued a $84.00 target price (up previously from $81.00) on shares of Taylor Morrison Home in a report on Tuesday, October 29th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $84.00.

Taylor Morrison Home Price Performance

NYSE TMHC opened at $59.96 on Wednesday. The company has a quick ratio of 0.69, a current ratio of 6.24 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $6.20 billion, a PE ratio of 7.93 and a beta of 2.01. Taylor Morrison Home has a 12-month low of $50.68 and a 12-month high of $75.49. The company has a 50 day moving average price of $67.35 and a two-hundred day moving average price of $65.53.

Taylor Morrison Home (NYSE:TMHC) last released its quarterly earnings data on Wednesday, October 23rd. The construction company reported $2.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.31. The business had revenue of $2.12 billion during the quarter, compared to analyst estimates of $1.96 billion. Taylor Morrison Home had a net margin of 10.39% and a return on equity of 15.91%. Taylor Morrison Home’s quarterly revenue was up 26.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.62 EPS. As a group, equities analysts predict that Taylor Morrison Home will post 8.44 earnings per share for the current fiscal year.

Insider Activity at Taylor Morrison Home

In related news, Director William H. Lyon sold 24,284 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $74.46, for a total transaction of $1,808,186.64. Following the transaction, the director now directly owns 2,045,316 shares in the company, valued at $152,294,229.36. The trade was a 1.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Darrell Sherman sold 26,757 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $70.00, for a total value of $1,872,990.00. Following the completion of the sale, the executive vice president now owns 109,217 shares of the company’s stock, valued at $7,645,190. This represents a 19.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 128,549 shares of company stock worth $9,159,829 in the last ninety days. 3.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Taylor Morrison Home

A number of institutional investors have recently bought and sold shares of TMHC. Range Financial Group LLC bought a new position in shares of Taylor Morrison Home during the 4th quarter worth about $307,000. Nordea Investment Management AB raised its position in Taylor Morrison Home by 2.0% in the fourth quarter. Nordea Investment Management AB now owns 138,871 shares of the construction company’s stock worth $8,529,000 after purchasing an additional 2,760 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Taylor Morrison Home by 3.5% during the third quarter. Principal Financial Group Inc. now owns 2,051,580 shares of the construction company’s stock worth $144,144,000 after purchasing an additional 69,222 shares during the period. Lord Abbett & CO. LLC boosted its holdings in Taylor Morrison Home by 2.5% during the third quarter. Lord Abbett & CO. LLC now owns 463,287 shares of the construction company’s stock valued at $32,550,000 after purchasing an additional 11,302 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of Taylor Morrison Home by 15.3% in the 3rd quarter. Franklin Resources Inc. now owns 618,360 shares of the construction company’s stock valued at $42,345,000 after purchasing an additional 81,841 shares during the period. Institutional investors and hedge funds own 95.16% of the company’s stock.

About Taylor Morrison Home

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 develops and constructs multi-use properties consisting of commercial space, retail, and multi-family properties under the Urban Form brand name.