Taylor Morrison Home (NYSE:TMHC) Price Target Raised to $74.00 at Royal Bank of Canada

Taylor Morrison Home (NYSE:TMHC) had its price target boosted by Royal Bank of Canada from $63.00 to $74.00 in a research note published on Thursday, Benzinga reports. The firm currently has an outperform rating on the construction company’s stock.

A number of other equities research analysts have also recently commented on TMHC. StockNews.com cut shares of Taylor Morrison Home from a buy rating to a hold rating in a research report on Friday, July 19th. Wedbush reiterated a neutral rating and issued a $65.00 target price (up from $61.00) on shares of Taylor Morrison Home in a research report on Wednesday, July 24th. Raymond James assumed coverage on shares of Taylor Morrison Home in a research report on Wednesday, July 24th. They issued an outperform rating and a $75.00 target price for the company. Zelman & Associates upgraded shares of Taylor Morrison Home from an underperform rating to a neutral rating in a research report on Friday, April 12th. Finally, Barclays reduced their target price 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. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Taylor Morrison Home presently has an average rating of Hold and an average price target of $68.60.

Taylor Morrison Home Stock Performance

NYSE:TMHC opened at $67.29 on Thursday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.91 and a current ratio of 6.01. The company has a fifty day moving average of $57.92 and a two-hundred day moving average of $56.93. The stock has a market capitalization of $7.12 billion, a PE ratio of 9.63 and a beta of 1.95. Taylor Morrison Home has a fifty-two week low of $37.23 and a fifty-two week high of $68.92.

Taylor Morrison Home (NYSE:TMHC) last posted its quarterly earnings data on Tuesday, April 30th. The construction company reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $0.18. The company had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.66 billion. Taylor Morrison Home had a net margin of 9.92% and a return on equity of 14.99%. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.74 earnings per share. As a group, research analysts forecast that Taylor Morrison Home will post 7.64 earnings per share for the current fiscal year.

Insider Activity at Taylor Morrison Home

In other Taylor Morrison Home news, Director William H. Lyon sold 30,000 shares of the stock in a transaction dated Tuesday, July 16th. 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 sale was disclosed in a legal filing with the SEC, which is available at this link. In other Taylor Morrison Home news, CEO Sheryl Palmer sold 100,000 shares of the 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 completion of the transaction, the chief executive officer now owns 19,211 shares of the company’s stock, valued at $1,185,318.70. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director William H. Lyon sold 30,000 shares of the 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 directly owns 2,255,316 shares of the company’s stock, valued at approximately $145,084,478.28. The disclosure for this sale can be found here. Over the last quarter, insiders sold 160,000 shares of company stock valued at $10,089,200. 3.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. SummerHaven Investment Management LLC boosted its stake in shares of Taylor Morrison Home by 1.5% in the fourth quarter. SummerHaven Investment Management LLC now owns 14,383 shares of the construction company’s stock valued at $767,000 after purchasing an additional 213 shares during the period. TCW Group Inc. boosted its stake in shares of Taylor Morrison Home by 0.4% in the second quarter. TCW Group Inc. now owns 52,193 shares of the construction company’s stock valued at $2,894,000 after purchasing an additional 213 shares during the period. Meritage Portfolio Management boosted its stake in shares of Taylor Morrison Home by 2.1% in the fourth quarter. Meritage Portfolio Management now owns 10,885 shares of the construction company’s stock valued at $581,000 after purchasing an additional 229 shares during the period. CWM LLC boosted its stake in shares of Taylor Morrison Home by 17.2% in the fourth quarter. CWM LLC now owns 1,804 shares of the construction company’s stock valued at $96,000 after purchasing an additional 265 shares during the period. Finally, Resonant Capital Advisors LLC boosted its stake in shares of Taylor Morrison Home by 3.6% in the fourth quarter. Resonant Capital Advisors LLC now owns 8,135 shares of the construction company’s stock valued at $434,000 after purchasing an additional 285 shares during the period. Hedge funds and other institutional investors 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.