Barclays Boosts Taylor Morrison Home (NYSE:TMHC) Price Target to $72.00

Taylor Morrison Home (NYSE:TMHC) had its price objective lifted by Barclays from $62.00 to $72.00 in a report published on Thursday morning, Benzinga reports. Barclays currently has an equal weight rating on the construction company’s stock.

Other equities research analysts have also issued research reports about the stock. Wedbush restated a neutral rating and issued a $65.00 price target (up previously from $61.00) on shares of Taylor Morrison Home in a research note on Wednesday. StockNews.com lowered shares of Taylor Morrison Home from a buy rating to a hold rating in a research note on Friday, July 19th. Raymond James initiated coverage on shares of Taylor Morrison Home in a research note on Wednesday. They issued an outperform rating and a $75.00 price target on the stock. Zelman & Associates upgraded shares of Taylor Morrison Home from an underperform rating to a neutral rating in a research note on Friday, April 12th. Finally, Royal Bank of Canada raised their price target on shares of Taylor Morrison Home from $63.00 to $74.00 and gave the company an outperform rating in a research note on Thursday. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Taylor Morrison Home has a consensus rating of Hold and an average target price of $66.50.

Taylor Morrison Home Stock Performance

Shares of NYSE TMHC opened at $65.52 on Thursday. The company has a quick ratio of 0.91, a current ratio of 6.01 and a debt-to-equity ratio of 0.39. The firm’s 50-day moving average price is $57.77 and its two-hundred day moving average price is $56.75. Taylor Morrison Home has a 52-week low of $37.23 and a 52-week high of $67.66. The stock has a market capitalization of $6.93 billion, a P/E ratio of 9.37 and a beta of 1.95.

Taylor Morrison Home (NYSE:TMHC) last issued its earnings results on Tuesday, April 30th. The construction company reported $1.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.18. Taylor Morrison Home had a net margin of 9.92% and a return on equity of 14.99%. The firm had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter last year, the company posted $1.74 earnings per share. Taylor Morrison Home’s revenue was up 2.3% on a year-over-year basis. As a group, sell-side analysts forecast that Taylor Morrison Home will post 7.62 earnings per share for the current year.

Insider Activity at Taylor Morrison Home

In related news, Director William H. Lyon sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $64.33, for a total transaction of $1,929,900.00. Following the transaction, the director now owns 2,255,316 shares in the company, valued at $145,084,478.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director William H. Lyon sold 30,000 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $64.33, for a total transaction of $1,929,900.00. Following the completion of the sale, the director now directly owns 2,255,316 shares of the company’s stock, valued at approximately $145,084,478.28. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Sheryl Palmer sold 100,000 shares of Taylor Morrison Home stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $61.70, for a total value of $6,170,000.00. Following the completion of the transaction, the chief executive officer now directly owns 19,211 shares in the company, valued at approximately $1,185,318.70. The disclosure for this sale can be found here. Insiders have sold 160,000 shares of company stock worth $10,089,200 over the last quarter. 3.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Taylor Morrison Home

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TMHC. Allspring Global Investments Holdings LLC raised its stake in Taylor Morrison Home by 18.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 786,249 shares of the construction company’s stock valued at $43,590,000 after purchasing an additional 122,864 shares during the period. Bailard Inc. raised its position in Taylor Morrison Home by 49.4% during the second quarter. Bailard Inc. now owns 11,800 shares of the construction company’s stock valued at $654,000 after buying an additional 3,900 shares during the period. Bank of New York Mellon Corp lifted its stake in Taylor Morrison Home by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,066,470 shares of the construction company’s stock worth $59,125,000 after acquiring an additional 4,638 shares in the last quarter. Highland Capital Management LLC boosted its position in Taylor Morrison Home by 14.3% during the 2nd quarter. Highland Capital Management LLC now owns 3,819 shares of the construction company’s stock worth $212,000 after acquiring an additional 478 shares during the period. Finally, SummerHaven Investment Management LLC grew its stake in Taylor Morrison Home by 1.8% during the 2nd quarter. SummerHaven Investment Management LLC now owns 14,831 shares of the construction company’s stock valued at $822,000 after acquiring an additional 267 shares in the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

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.