Truist Financial Downgrades Taylor Morrison Home (NYSE:TMHC) to Hold

Taylor Morrison Home (NYSE:TMHC) was downgraded by research analysts at Truist Financial from a “strong-buy” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

Several other research analysts have also commented on TMHC. Barclays lifted their price target on Taylor Morrison Home from $68.00 to $69.00 and gave the stock an “overweight” rating in a report on Thursday, April 23rd. Citizens Jmp lowered shares of Taylor Morrison Home from a “market outperform” rating to a “hold” rating in a report on Monday. Seaport Research Partners reissued a “sell” rating and issued a $49.00 price target (down from $85.00) on shares of Taylor Morrison Home in a research note on Tuesday, April 7th. Royal Bank Of Canada downgraded shares of Taylor Morrison Home from an “outperform” rating to a “sector perform” rating and raised their price target for the stock from $69.00 to $72.50 in a report on Tuesday. Finally, Wolfe Research reiterated an “outperform” rating and issued a $76.00 price objective on shares of Taylor Morrison Home in a report on Thursday, April 23rd. Three research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $76.86.

Taylor Morrison Home Stock Performance

Shares of Taylor Morrison Home stock opened at $71.51 on Monday. Taylor Morrison Home has a one year low of $54.15 and a one year high of $72.50. The company has a market cap of $6.68 billion, a price-to-earnings ratio of 10.67, a PEG ratio of 1.65 and a beta of 1.47. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.45 and a current ratio of 7.66. The business’s 50 day moving average price is $59.37 and its 200 day moving average price is $61.23.

Taylor Morrison Home (NYSE:TMHC) last issued its earnings results on Wednesday, April 22nd. The construction company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.30. The company had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.33 billion. Taylor Morrison Home had a return on equity of 11.48% and a net margin of 8.77%.The firm’s quarterly revenue was down 26.8% on a year-over-year basis. During the same period in the prior year, the business earned $2.07 EPS. On average, research analysts predict that Taylor Morrison Home will post 5.36 EPS for the current year.

Hedge Funds Weigh In On Taylor Morrison Home

A number of hedge funds and other institutional investors have recently bought and sold shares of TMHC. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Taylor Morrison Home by 5.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 299,888 shares of the construction company’s stock worth $18,005,000 after purchasing an additional 16,379 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Taylor Morrison Home by 30.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 899 shares of the construction company’s stock valued at $55,000 after purchasing an additional 211 shares in the last quarter. M&T Bank Corp purchased a new stake in Taylor Morrison Home during the 2nd quarter worth approximately $262,000. EverSource Wealth Advisors LLC lifted its holdings in Taylor Morrison Home by 406.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 897 shares of the construction company’s stock worth $55,000 after buying an additional 720 shares in the last quarter. Finally, Marshall Wace LLP boosted its position in Taylor Morrison Home by 12.0% in the 2nd quarter. Marshall Wace LLP now owns 8,029 shares of the construction company’s stock valued at $493,000 after buying an additional 859 shares during the period. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Taylor Morrison Home News Summary

Here are the key news stories impacting Taylor Morrison Home this week:

• Positive Sentiment: Berkshire Hathaway agreed to acquire Taylor Morrison Home Corp. for $72.50 per share in cash, valuing the deal at about $6.8 billion to $8.5 billion and representing roughly a 24% premium, which is the main reason the stock jumped. Article Title
• Positive Sentiment: The deal effectively puts a floor under TMHC shares and turns the stock into a merger-arbitrage story, with investors focused on closing risk rather than homebuilding fundamentals. Article Title
• Neutral Sentiment: Several law firms, including KSF, Ademi LLP, and Halper Sadeh, have launched investigations into whether Taylor Morrison shareholders are receiving a fair price and whether the sale process was adequate, which could create some headlines but does not change the announced offer today. Article Title
• Neutral Sentiment: Some commentary suggests Berkshire’s purchase validates the broader U.S. housing market and could lift sentiment across homebuilders, but that is a second-order effect for TMHC now that a buyout is in place. Article Title
• Negative Sentiment: Citizens JMP downgraded Taylor Morrison to “hold,” which is a mild headwind, though it is overshadowed by the acquisition announcement. Article Title

About Taylor Morrison Home

Taylor Morrison Home Corporation (NYSE:TMHC) is a leading national homebuilder and developer specializing in the design, construction and sale of single-family detached and attached homes. The company’s portfolio spans entry-level, first-time, move-up and active-adult segments, offering buyers a diverse array of architectural styles, floor plans and personalized design options. Through its vertically integrated model, Taylor Morrison manages land acquisition, community development, construction and sales to deliver quality homes and customer-focused experiences across its markets.

The company’s heritage traces back to Morrison Homes, founded in 1977, and Taylor Woodrow, established in 1921 in the United Kingdom.