Taylor Morrison Home (NYSE:TMHC) Downgraded by StockNews.com

StockNews.com cut shares of Taylor Morrison Home (NYSE:TMHC) from a buy rating to a hold rating in a report issued on Friday morning.

Other equities research analysts have also recently issued reports about the stock. Barclays reduced their price target on shares of Taylor Morrison Home from $65.00 to $62.00 and set an equal weight rating for the company in a research report on Friday, July 12th. Royal Bank of Canada upped their target price on shares of Taylor Morrison Home from $61.00 to $63.00 and gave the company an outperform rating in a report on Wednesday, May 1st. Wedbush reaffirmed an outperform rating and issued a $61.00 target price on shares of Taylor Morrison Home in a report on Thursday, May 30th. Finally, Zelman & Associates raised shares of Taylor Morrison Home from an underperform rating to a neutral rating in a report on Friday, April 12th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $59.80.

Taylor Morrison Home Price Performance

Taylor Morrison Home stock opened at $64.30 on Friday. The stock has a market cap of $6.80 billion, a P/E ratio of 9.20 and a beta of 1.95. The company has a fifty day simple moving average of $57.34 and a 200-day simple moving average of $56.42. Taylor Morrison Home has a 12-month low of $37.23 and a 12-month high of $67.66. The company has a current ratio of 6.16, a quick ratio of 0.91 and a debt-to-equity ratio of 0.39.

Taylor Morrison Home (NYSE:TMHC) last announced its quarterly earnings results on Tuesday, April 30th. The construction company reported $1.75 earnings per share for the quarter, beating analysts’ consensus estimates of $1.57 by $0.18. Taylor Morrison Home had a net margin of 10.30% and a return on equity of 15.75%. The firm had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same period in the previous year, the company earned $1.74 earnings per share. Taylor Morrison Home’s quarterly revenue was up 2.3% compared to the same quarter last year. Equities analysts expect that Taylor Morrison Home will post 7.62 EPS for the current fiscal year.

Insider Transactions at Taylor Morrison Home

In other news, CEO Sheryl Palmer sold 100,000 shares of the business’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $61.70, for a total transaction of $6,170,000.00. Following the transaction, the chief executive officer now directly owns 19,211 shares in the company, valued at $1,185,318.70. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Taylor Morrison Home news, CEO Sheryl Palmer sold 100,000 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $61.70, for a total transaction of $6,170,000.00. Following the transaction, the chief executive officer now directly owns 19,211 shares in the company, valued at $1,185,318.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director William H. Lyon sold 30,000 shares of the company’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $64.33, for a total transaction of $1,929,900.00. Following the transaction, the director now owns 2,255,316 shares in the company, valued at $145,084,478.28. The disclosure for this sale can be found here. Company insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of Taylor Morrison Home in the fourth quarter valued at approximately $63,137,000. Wedge Capital Management L L P NC grew its position in shares of Taylor Morrison Home by 1,910.4% in the second quarter. Wedge Capital Management L L P NC now owns 727,919 shares of the construction company’s stock valued at $40,356,000 after purchasing an additional 691,711 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position 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 purchasing an additional 649,230 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of Taylor Morrison Home by 3,268.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 452,087 shares of the construction company’s stock valued at $24,119,000 after purchasing an additional 438,664 shares during the last quarter. Finally, Assetmark Inc. grew its position in shares of Taylor Morrison Home by 99.3% in the fourth quarter. Assetmark Inc. now owns 786,812 shares of the construction company’s stock valued at $41,976,000 after purchasing an additional 391,964 shares during the last quarter. 95.16% of the stock is currently owned by institutional investors and hedge funds.

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.