Wells Fargo & Co Upgrades Taylor Morrison Home (TMHC) to Outperform

Wells Fargo & Co upgraded shares of Taylor Morrison Home (NYSE:TMHC) from a market perform rating to an outperform rating in a research report released on Friday, MarketBeat reports. The firm currently has $32.00 target price on the construction company’s stock.

A number of other equities research analysts have also recently issued reports on the stock. Susquehanna Bancshares upgraded shares of Taylor Morrison Home from a neutral rating to a positive rating in a report on Thursday, January 4th. UBS Group upgraded shares of Taylor Morrison Home from a neutral rating to a positive rating in a report on Thursday, January 4th. Citigroup upgraded shares of Taylor Morrison Home from a neutral rating to a buy rating and set a $30.00 price target for the company in a report on Tuesday, January 2nd. BidaskClub cut shares of Taylor Morrison Home from a buy rating to a hold rating in a report on Saturday, November 4th. Finally, B. Riley restated a neutral rating on shares of Taylor Morrison Home in a report on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. Taylor Morrison Home has a consensus rating of Hold and an average target price of $27.67.

Shares of Taylor Morrison Home (NYSE TMHC) traded up $0.03 during trading hours on Friday, reaching $27.39. 2,245,200 shares of the company were exchanged, compared to its average volume of 3,380,040. The company has a market capitalization of $3,270.00, a PE ratio of 44.18, a PEG ratio of 0.98 and a beta of 1.47. Taylor Morrison Home has a 12-month low of $18.26 and a 12-month high of $27.53. 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 (NYSE:TMHC) last issued its quarterly earnings data on Wednesday, November 1st. The construction company reported $0.45 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.04. The firm had revenue of $908.00 million during the quarter, compared to analysts’ expectations of $914.19 million. Taylor Morrison Home had a net margin of 2.41% and a return on equity of 4.18%. Taylor Morrison Home’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.49 earnings per share. equities analysts anticipate that Taylor Morrison Home will post 1.84 earnings per share for the current year.

Taylor Morrison Home announced that its board has initiated a share buyback plan on Wednesday, January 3rd that permits the company to buyback $200.00 million in shares. This buyback authorization permits the construction company to purchase shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

In other Taylor Morrison Home news, insider C. David Cone sold 35,000 shares of the company’s stock in a transaction dated Wednesday, November 1st. The shares were 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 in the company, valued at $1,011,336.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.40% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Ameritas Investment Partners Inc. raised its position in shares of Taylor Morrison Home by 62.3% during the second quarter. Ameritas Investment Partners Inc. now owns 5,369 shares of the construction company’s stock valued at $129,000 after buying an additional 2,060 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Taylor Morrison Home by 20.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,409 shares of the construction company’s stock valued at $154,000 after buying an additional 1,110 shares during the last quarter. Great West Life Assurance Co. Can raised its position in shares of Taylor Morrison Home by 52.9% during the second quarter. Great West Life Assurance Co. Can now owns 6,882 shares of the construction company’s stock valued at $165,000 after buying an additional 2,382 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Taylor Morrison Home by 17.6% during the second quarter. Victory Capital Management Inc. now owns 7,429 shares of the construction company’s stock valued at $178,000 after buying an additional 1,114 shares during the last quarter. Finally, BNP Paribas Arbitrage SA raised its position in shares of Taylor Morrison Home by 717.3% during the second quarter. BNP Paribas Arbitrage SA now owns 7,470 shares of the construction company’s stock valued at $179,000 after buying an additional 6,556 shares during the last quarter. 59.08% of the stock is owned by institutional investors and hedge funds.

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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).

Analyst Recommendations for Taylor Morrison Home (NYSE:TMHC)

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