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

Wolfe Research upgraded shares of Taylor Morrison Home (NYSE:TMHC) from a peer perform rating to an outperform rating in a research report sent to investors on Wednesday, MarketBeat reports. They currently have $76.00 price target on the construction company’s stock.

Several other equities research analysts have also issued reports on the company. Wedbush raised Taylor Morrison Home from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $65.00 to $85.00 in a research note on Friday, October 25th. Raymond James reissued an “outperform” rating and issued a $84.00 price target (up from $81.00) on shares of Taylor Morrison Home in a research report on Tuesday, October 29th. JPMorgan Chase & Co. decreased their target price on shares of Taylor Morrison Home from $101.00 to $90.00 and set an “overweight” rating for the company in a research note on Friday, December 13th. Barclays upgraded Taylor Morrison Home from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $75.00 to $90.00 in a research note on Wednesday, December 11th. Finally, Royal Bank of Canada increased their price target on shares of Taylor Morrison Home from $74.00 to $77.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $84.00.

Taylor Morrison Home Stock Performance

NYSE:TMHC opened at $60.91 on Wednesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.69 and a current ratio of 6.24. Taylor Morrison Home has a fifty-two week low of $50.68 and a fifty-two week high of $75.49. The company has a market cap of $6.30 billion, a price-to-earnings ratio of 8.06 and a beta of 2.01. The stock has a fifty day moving average price of $67.18 and a 200-day moving average price of $65.50.

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

Insider Activity

In other Taylor Morrison Home news, EVP Darrell Sherman sold 68,433 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $70.50, for a total transaction of $4,824,526.50. Following the completion of the sale, the executive vice president now directly owns 109,217 shares in the company, valued at $7,699,798.50. The trade was a 38.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William H. Lyon sold 9,075 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $72.08, for a total transaction of $654,126.00. Following the completion of the transaction, the director now owns 2,136,241 shares of the company’s stock, valued at $153,980,251.28. This trade represents a 0.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 128,549 shares of company stock valued at $9,159,829 over the last quarter. Corporate insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. MQS Management LLC bought a new position in Taylor Morrison Home during the third quarter valued at approximately $768,000. Lord Abbett & CO. LLC lifted its holdings in shares of 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 acquiring an additional 11,302 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Taylor Morrison Home by 3.5% in the third quarter. Principal Financial Group Inc. now owns 2,051,580 shares of the construction company’s stock valued at $144,144,000 after buying an additional 69,222 shares during the last quarter. Intech Investment Management LLC bought a new position in shares of Taylor Morrison Home in the third quarter valued at about $1,899,000. Finally, Creative Planning raised its holdings in Taylor Morrison Home by 46.3% during the 3rd quarter. Creative Planning now owns 29,723 shares of the construction company’s stock worth $2,088,000 after purchasing an additional 9,408 shares during the last quarter. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Taylor Morrison Home Company Profile

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.