Analysts Set Taylor Morrison Home Corp (NYSE:TMHC) Target Price at $24.57

Taylor Morrison Home Corp (NYSE:TMHC) has earned an average rating of “Buy” from the eleven research firms that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $24.57.

TMHC has been the subject of several research reports. ValuEngine cut Taylor Morrison Home from a “sell” rating to a “strong sell” rating in a research note on Wednesday, November 6th. B. Riley set a $29.00 price target on Taylor Morrison Home and gave the company a “buy” rating in a research note on Tuesday, October 15th. G.Research reiterated a “hold” rating on shares of Taylor Morrison Home in a report on Thursday, November 7th. Finally, Wedbush reissued an “outperform” rating on shares of Taylor Morrison Home in a report on Thursday, September 19th.

Shares of NYSE TMHC traded up $0.16 during trading on Friday, hitting $23.08. The company had a trading volume of 50,049 shares, compared to its average volume of 2,023,884. Taylor Morrison Home has a 12 month low of $15.03 and a 12 month high of $28.00. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.61 and a current ratio of 7.32. The firm has a market capitalization of $2.45 billion, a P/E ratio of 8.71, a price-to-earnings-growth ratio of 1.53 and a beta of 0.80. The stock has a 50 day simple moving average of $24.46 and a 200 day simple moving average of $22.98.

Taylor Morrison Home (NYSE:TMHC) last released its quarterly earnings results on Wednesday, October 30th. The construction company reported $0.65 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.65. Taylor Morrison Home had a return on equity of 12.50% and a net margin of 4.40%. The company had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter in the prior year, the business posted $0.83 earnings per share. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. As a group, analysts predict that Taylor Morrison Home will post 2.82 EPS for the current year.

In other Taylor Morrison Home news, CAO Joseph Terracciano sold 12,635 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $24.27, for a total value of $306,651.45. Following the completion of the sale, the chief accounting officer now owns 11,035 shares of the company’s stock, valued at $267,819.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Darrell Sherman sold 131,002 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $25.00, for a total transaction of $3,275,050.00. Following the completion of the sale, the executive vice president now owns 97,725 shares in the company, valued at $2,443,125. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its position 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 valued at $74,014,000 after buying an additional 1,817,822 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Taylor Morrison Home by 1,457.8% in the 3rd quarter. Millennium Management LLC now owns 793,745 shares of the construction company’s stock worth $20,589,000 after purchasing an additional 742,793 shares in the last quarter. Nuveen Asset Management LLC purchased a new position in shares of Taylor Morrison Home in the second quarter worth $13,655,000. Man Group plc boosted its position in shares of Taylor Morrison Home by 185.4% during the third quarter. Man Group plc now owns 902,130 shares of the construction company’s stock valued at $23,402,000 after buying an additional 586,007 shares during the last quarter. Finally, Castleark Management LLC bought a new stake in Taylor Morrison Home in the 2nd quarter worth about $8,459,000. 99.04% of the stock is owned by institutional investors.

Taylor Morrison Home Company Profile

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.

Further Reading: When can a hold rating present a buying opportunity?

Analyst Recommendations for Taylor Morrison Home (NYSE:TMHC)

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