Barclays Analysts Give Taylor Morrison Home (TMHC) a $27.00 Price Target
A number of other equities analysts have also weighed in on TMHC. Wells Fargo & Co upgraded Taylor Morrison Home from a market perform rating to an outperform rating and set a $32.00 price target for the company in a research report on Friday, January 5th. UBS Group upgraded Taylor Morrison Home from a neutral rating to a positive rating in a research report on Thursday, January 4th. BidaskClub upgraded Taylor Morrison Home from a sell rating to a hold rating in a research report on Thursday, September 28th. Zacks Investment Research lowered Taylor Morrison Home from a hold rating to a sell rating in a research report on Friday, January 5th. Finally, Citigroup upgraded Taylor Morrison Home from a neutral rating to a buy rating and set a $30.00 price objective for the company in a research report on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. The stock has an average rating of Hold and an average target price of $27.57.
Taylor Morrison Home (NYSE TMHC) traded up $0.95 during trading hours on Monday, hitting $28.41. The company had a trading volume of 2,296,700 shares, compared to its average volume of 2,679,787. The company has a debt-to-equity ratio of 0.63, a current ratio of 6.85 and a quick ratio of 0.81. Taylor Morrison Home has a fifty-two week low of $18.26 and a fifty-two week high of $28.42. The firm has a market cap of $3,330.00, a price-to-earnings ratio of 45.82, a price-to-earnings-growth ratio of 0.98 and a beta of 1.47.
Taylor Morrison Home announced that its Board of Directors has approved a share buyback program on Wednesday, January 3rd that allows the company to buyback $200.00 million in shares. This buyback authorization allows the construction company to purchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.
In other news, insider C. David Cone sold 35,000 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $23.79, for a total transaction of $832,650.00. Following the completion of the sale, the insider now directly owns 42,511 shares of the company’s stock, valued at approximately $1,011,336.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.40% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of TMHC. Great West Life Assurance Co. Can raised its stake in shares of Taylor Morrison Home by 52.9% during the 2nd quarter. Great West Life Assurance Co. Can now owns 6,882 shares of the construction company’s stock worth $165,000 after purchasing an additional 2,382 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of Taylor Morrison Home by 79.7% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 371,160 shares of the construction company’s stock worth $8,912,000 after purchasing an additional 164,563 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Taylor Morrison Home by 56.8% during the 2nd quarter. Rhumbline Advisers now owns 65,577 shares of the construction company’s stock worth $1,575,000 after purchasing an additional 23,752 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Taylor Morrison Home during the 2nd quarter worth about $184,000. Finally, Bank of New York Mellon Corp raised its stake in shares of Taylor Morrison Home by 25.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 315,964 shares of the construction company’s stock worth $7,586,000 after purchasing an additional 64,337 shares in the last quarter. 59.08% of the stock is owned by institutional investors.
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About Taylor Morrison Home
Taylor Morrison Home Corporation is a homebuilder, which designs, builds and sells single-family detached and attached homes. The Company is also a land developer, with a portfolio of lifestyle and master-planned communities. Its segments include East, which includes Atlanta, Charlotte, North Florida, Raleigh, Southwest Florida and Tampa; Central, which includes Austin, Dallas, and Houston (each of the Dallas and Houston markets include both a Taylor Morrison division and a Darling Homes division); West, which includes Bay Area, Chicago, Denver, Phoenix, Sacramento and Southern California, and Mortgage Operations, which includes Taylor Morrison Home Funding, LLC (TMHF) and Inspired Title Services, LLC (Inspired Title).
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