Other analysts have also issued research reports about the stock. Citigroup raised shares of Taylor Morrison Home from a neutral rating to a buy rating and set a $30.00 price objective on the stock in a research report on Tuesday. ValuEngine lowered shares of Taylor Morrison Home from a strong-buy rating to a buy rating in a research report on Thursday, November 2nd. BidaskClub raised shares of Taylor Morrison Home from a hold rating to a buy rating in a research report on Wednesday, October 4th. B. Riley reissued a neutral rating on shares of Taylor Morrison Home in a research report on Thursday, November 2nd. Finally, UBS Group raised shares of Taylor Morrison Home from a neutral rating to a positive rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $26.83.
Shares of Taylor Morrison Home (NYSE TMHC) traded down $0.13 during mid-day trading on Thursday, hitting $26.43. 7,179,700 shares of the stock were exchanged, compared to its average volume of 3,674,333. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.81 and a current ratio of 6.85. The company has a market capitalization of $3,230.00, a price-to-earnings ratio of 42.63, a PEG ratio of 0.97 and a beta of 1.47. Taylor Morrison Home has a twelve month low of $18.26 and a twelve month high of $26.92.
Taylor Morrison Home (NYSE:TMHC) last announced its quarterly earnings data on Wednesday, November 1st. The construction company reported $0.45 EPS for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.04. The business had revenue of $908.00 million for the quarter, compared to analyst estimates of $914.19 million. Taylor Morrison Home had a net margin of 2.41% and a return on equity of 4.18%. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.49 earnings per share. equities analysts predict that Taylor Morrison Home will post 1.84 EPS for the current year.
Taylor Morrison Home declared that its Board of Directors has authorized a share buyback program on Wednesday, January 3rd that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the construction company to repurchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.
In related news, insider C. David Cone sold 35,000 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $23.79, for a total transaction of $832,650.00. Following the transaction, the insider now directly owns 42,511 shares in the company, valued at $1,011,336.69. The sale was disclosed in a filing with the SEC, which is available through this link. 2.40% of the stock is currently owned by insiders.
Several large investors have recently added to or reduced their stakes in TMHC. Vanguard Group Inc. increased its holdings in shares of Taylor Morrison Home by 72.8% in the second quarter. Vanguard Group Inc. now owns 7,031,797 shares of the construction company’s stock valued at $168,834,000 after purchasing an additional 2,962,990 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Taylor Morrison Home by 51.5% in the second quarter. BlackRock Inc. now owns 6,585,230 shares of the construction company’s stock valued at $158,111,000 after purchasing an additional 2,239,679 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Taylor Morrison Home by 76.7% in the second quarter. Dimensional Fund Advisors LP now owns 3,501,577 shares of the construction company’s stock valued at $84,072,000 after purchasing an additional 1,519,523 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Taylor Morrison Home by 323.8% in the second quarter. Goldman Sachs Group Inc. now owns 1,917,434 shares of the construction company’s stock valued at $46,038,000 after purchasing an additional 1,465,003 shares during the last quarter. Finally, Greenhaven Associates Inc. increased its holdings in shares of Taylor Morrison Home by 94.9% in the third quarter. Greenhaven Associates Inc. now owns 2,526,244 shares of the construction company’s stock valued at $55,704,000 after purchasing an additional 1,229,844 shares during the last quarter. Hedge funds and other institutional investors own 59.08% of the company’s stock.
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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).
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