Taylor Morrison Home’s (TMHC) “Neutral” Rating Reaffirmed at Bank of America

Taylor Morrison Home (NYSE:TMHC)‘s stock had its “neutral” rating reiterated by analysts at Bank of America in a note issued to investors on Friday, Marketbeat reports. They currently have a $70.00 price target on the construction company’s stock, up from their previous price target of $68.00. Bank of America‘s price target suggests a potential upside of 9.92% from the company’s previous close.

TMHC has been the subject of a number of other research reports. Wedbush restated an “outperform” rating and issued a $85.00 price objective on shares of Taylor Morrison Home in a research report on Thursday, October 23rd. Citizens Jmp assumed coverage on Taylor Morrison Home in a report on Wednesday, January 7th. They issued a “market outperform” rating and a $95.00 target price for the company. Citigroup initiated coverage on Taylor Morrison Home in a report on Wednesday, January 7th. They issued an “outperform” rating on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Taylor Morrison Home in a report on Monday, December 29th. Finally, Barclays reaffirmed an “overweight” rating and issued a $71.00 price target on shares of Taylor Morrison Home in a report on Monday, December 8th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $77.14.

Taylor Morrison Home Trading Down 0.7%

NYSE TMHC opened at $63.68 on Friday. Taylor Morrison Home has a 52 week low of $51.90 and a 52 week high of $72.50. The firm has a 50 day moving average of $60.91 and a two-hundred day moving average of $63.31. The company has a quick ratio of 1.02, a current ratio of 7.02 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $6.22 billion, a PE ratio of 7.66 and a beta of 1.59.

Taylor Morrison Home (NYSE:TMHC) last posted its earnings results on Wednesday, October 22nd. The construction company reported $2.11 EPS for the quarter, beating the consensus estimate of $1.93 by $0.18. Taylor Morrison Home had a return on equity of 15.23% and a net margin of 10.16%.The firm had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the prior year, the company posted $2.40 earnings per share. Taylor Morrison Home’s revenue for the quarter was down 1.2% compared to the same quarter last year. As a group, research analysts expect that Taylor Morrison Home will post 8.93 EPS for the current fiscal year.

Hedge Funds Weigh In On Taylor Morrison Home

A number of large investors have recently bought and sold shares of TMHC. AQR Capital Management LLC boosted its position in Taylor Morrison Home by 73.8% in the 3rd quarter. AQR Capital Management LLC now owns 2,213,556 shares of the construction company’s stock valued at $146,117,000 after buying an additional 940,138 shares during the last quarter. Long Pond Capital LP lifted its holdings in shares of Taylor Morrison Home by 132.4% in the 2nd quarter. Long Pond Capital LP now owns 1,561,586 shares of the construction company’s stock worth $95,913,000 after purchasing an additional 889,616 shares during the last quarter. Norges Bank bought a new position in Taylor Morrison Home during the 2nd quarter worth $93,627,000. Charles Schwab Investment Management Inc. increased its position in Taylor Morrison Home by 1.5% in the second quarter. Charles Schwab Investment Management Inc. now owns 1,374,540 shares of the construction company’s stock worth $84,424,000 after buying an additional 20,902 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Taylor Morrison Home by 96.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,302,940 shares of the construction company’s stock valued at $76,704,000 after acquiring an additional 638,321 shares during the period. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Taylor Morrison Home Company Profile

Taylor Morrison Home Corporation (NYSE:TMHC) is a leading national homebuilder and developer specializing in the design, construction and sale of single-family detached and attached homes. The company’s portfolio spans entry-level, first-time, move-up and active-adult segments, offering buyers a diverse array of architectural styles, floor plans and personalized design options. Through its vertically integrated model, Taylor Morrison manages land acquisition, community development, construction and sales to deliver quality homes and customer-focused experiences across its markets.

The company’s heritage traces back to Morrison Homes, founded in 1977, and Taylor Woodrow, established in 1921 in the United Kingdom.