Taylor Morrison Home (TMHC) Shares Gap Down to $28.41

Taylor Morrison Home Corporation (NYSE:TMHC) shares gapped down prior to trading on Friday . The stock had previously closed at $29.07, but opened at $28.41. Taylor Morrison Home shares last traded at $27.75, with a volume of 9914762 shares changing hands.

A number of research analysts have commented on TMHC shares. Citigroup raised Taylor Morrison Home from a “neutral” rating to a “buy” rating and set a $30.00 price objective on the stock in a report on Tuesday, January 2nd. ValuEngine lowered Taylor Morrison Home from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 2nd. BidaskClub raised Taylor Morrison Home from a “hold” rating to a “buy” rating in a report on Wednesday, October 4th. Barclays set a $27.00 price objective on Taylor Morrison Home and gave the company a “hold” rating in a report on Monday. Finally, Wedbush reaffirmed a “neutral” rating and issued a $27.00 price objective on shares of Taylor Morrison Home in a report on Friday. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $27.57.

The company has a market cap of $3,330.00, a price-to-earnings ratio of 44.76, a PEG ratio of 0.98 and a beta of 1.47. The company has a quick ratio of 0.81, a current ratio of 6.85 and a debt-to-equity ratio of 0.63.

Taylor Morrison Home (NYSE:TMHC) last released its earnings results on Wednesday, November 1st. The construction company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.04. The company had revenue of $908.00 million for the quarter, compared to analyst estimates of $914.19 million. Taylor Morrison Home had a return on equity of 4.18% and a net margin of 2.41%. Taylor Morrison Home’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.49 EPS. equities research analysts expect that Taylor Morrison Home Corporation will post 1.84 EPS for the current fiscal year.

Taylor Morrison Home announced that its board has initiated a stock repurchase program on Wednesday, January 3rd that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the construction company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.

In other news, insider C. David Cone sold 35,000 shares of the stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $23.79, for a total transaction of $832,650.00. Following 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 legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.40% of the company’s stock.

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

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Taylor Morrison Home Company Profile

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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