Royal Bank of Canada Boosts Taylor Morrison Home (NYSE:TMHC) Price Target to $77.00

by · The Markets Daily

Taylor Morrison Home (NYSE:TMHC – Free Report) had its price target lifted by Royal Bank of Canada from $74.00 to $77.00 in a report released on Thursday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the construction company’s stock.

Other equities research analysts also recently issued research reports about the company. Barclays raised their price target on Taylor Morrison Home from $72.00 to $75.00 and gave the stock an “equal weight” rating in a report on Thursday. Wedbush reissued a “neutral” rating and issued a $65.00 price target on shares of Taylor Morrison Home in a report on Wednesday. StockNews.com downgraded Taylor Morrison Home from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Zelman & Associates raised Taylor Morrison Home from a “neutral” rating to an “outperform” rating in a report on Monday, August 12th. Finally, BTIG Research upgraded Taylor Morrison Home from a “neutral” rating to a “buy” rating and set a $78.00 price objective for the company in a research note on Monday, August 19th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $75.83.

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Taylor Morrison Home Price Performance

Shares of TMHC stock opened at $68.52 on Thursday. Taylor Morrison Home has a 1-year low of $37.23 and a 1-year high of $71.95. The stock’s 50-day moving average is $67.58 and its 200 day moving average is $61.66. The company has a market cap of $7.25 billion, a P/E ratio of 9.80 and a beta of 1.96. The company has a debt-to-equity ratio of 0.39, a current ratio of 6.01 and a quick ratio of 0.67.

Taylor Morrison Home (NYSE:TMHC – Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The construction company reported $2.37 earnings per share for the quarter, beating analysts’ consensus estimates of $2.06 by $0.31. The company had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $1.96 billion. Taylor Morrison Home had a return on equity of 14.99% and a net margin of 9.92%. The firm’s revenue for the quarter was up 26.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.62 earnings per share. Research analysts predict that Taylor Morrison Home will post 8.15 earnings per share for the current fiscal year.

Insider Activity at Taylor Morrison Home

In related news, Director William H. Lyon sold 1,741 shares of Taylor Morrison Home stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $68.03, for a total transaction of $118,440.23. Following the completion of the transaction, the director now directly owns 2,195,316 shares in the company, valued at approximately $149,347,347.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. V Square Quantitative Management LLC purchased a new position in Taylor Morrison Home during the third quarter valued at approximately $29,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Taylor Morrison Home in the second quarter valued at approximately $31,000. UMB Bank n.a. increased its position in shares of Taylor Morrison Home by 263.9% in the third quarter. UMB Bank n.a. now owns 535 shares of the construction company’s stock valued at $38,000 after buying an additional 388 shares in the last quarter. Fidelis Capital Partners LLC purchased a new stake in shares of Taylor Morrison Home in the first quarter valued at approximately $82,000. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Taylor Morrison Home in the first quarter valued at approximately $91,000. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

About Taylor Morrison Home

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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.

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