Wedbush Reaffirms Outperform Rating for Taylor Morrison Home (NYSE:TMHC)

Wedbush reiterated their outperform rating on shares of Taylor Morrison Home (NYSE:TMHC) in a report issued on Thursday, LiveTradingNews reports.

Several other research analysts also recently commented on TMHC. B. Riley upgraded shares of Taylor Morrison Home from a neutral rating to a buy rating and boosted their price objective for the company from $22.00 to $26.00 in a research report on Thursday, August 1st. Wells Fargo & Co boosted their price objective on shares of Taylor Morrison Home from $21.00 to $24.00 and gave the company a market perform rating in a research report on Thursday, August 1st. Zacks Investment Research upgraded shares of Taylor Morrison Home from a hold rating to a strong-buy rating and set a $26.00 price objective for the company in a research report on Saturday, August 3rd. ValuEngine upgraded shares of Taylor Morrison Home from a sell rating to a hold rating in a research report on Wednesday, September 4th. Finally, Barclays boosted their price objective on shares of Taylor Morrison Home from $20.00 to $23.00 and gave the company an equal weight rating in a research report on Friday, July 19th. Five investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Taylor Morrison Home currently has a consensus rating of Buy and an average price target of $23.22.

NYSE TMHC opened at $25.12 on Thursday. The company has a current ratio of 7.69, a quick ratio of 0.60 and a debt-to-equity ratio of 0.89. Taylor Morrison Home has a 1-year low of $14.73 and a 1-year high of $25.52. The company has a 50 day moving average of $23.47 and a 200-day moving average of $20.70. The company has a market cap of $2.66 billion, a price-to-earnings ratio of 9.48, a PEG ratio of 1.69 and a beta of 0.92.



Taylor Morrison Home (NYSE:TMHC) last announced its quarterly earnings data on Wednesday, July 31st. The construction company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.63 by $0.13. Taylor Morrison Home had a net margin of 5.03% and a return on equity of 13.66%. The business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the previous year, the business earned $0.52 earnings per share. The company’s revenue was up 29.0% on a year-over-year basis. On average, equities research analysts forecast that Taylor Morrison Home will post 2.76 earnings per share for the current year.

In other Taylor Morrison Home news, insider C. David Cone sold 21,205 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $23.06, for a total transaction of $488,987.30. Following the sale, the insider now owns 80,230 shares of the company’s stock, valued at $1,850,103.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Joseph Terracciano sold 12,635 shares of the business’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $24.27, for a total transaction of $306,651.45. Following the sale, the chief accounting officer now directly owns 11,035 shares in the company, valued at approximately $267,819.45. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 600,491 shares of company stock valued at $14,361,881. Company insiders own 1.90% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of TMHC. Bank of New York Mellon Corp grew its stake in shares of Taylor Morrison Home by 106.1% during the second quarter. Bank of New York Mellon Corp now owns 3,531,236 shares of the construction company’s stock worth $74,014,000 after buying an additional 1,817,822 shares during the last quarter. Nuveen Asset Management LLC bought a new stake in shares of Taylor Morrison Home in the second quarter worth $13,655,000. Castleark Management LLC bought a new stake in shares of Taylor Morrison Home in the second quarter worth $8,459,000. Brandes Investment Partners LP grew its stake in shares of Taylor Morrison Home by 21.1% in the first quarter. Brandes Investment Partners LP now owns 2,122,674 shares of the construction company’s stock worth $37,678,000 after purchasing an additional 370,548 shares during the last quarter. Finally, ClariVest Asset Management LLC grew its stake in shares of Taylor Morrison Home by 418.1% in the second quarter. ClariVest Asset Management LLC now owns 429,787 shares of the construction company’s stock worth $9,008,000 after purchasing an additional 346,825 shares during the last quarter. 98.79% of the stock is currently owned by hedge funds and other institutional investors.

About Taylor Morrison Home

Taylor Morrison Home Corporation operates as a public homebuilder in the United States. The company designs, builds, and sells single-family and multi-family attached and detached homes; and develops lifestyle and master-planned communities. It operates under the Taylor Morrison and Darling Homes brand names in Arizona, California, Colorado, Florida, Georgia, Illinois, North Carolina and Texas.

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Analyst Recommendations for Taylor Morrison Home (NYSE:TMHC)

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