BidaskClub upgraded shares of Taylor Morrison Home Corp (NASDAQ:TMHC) from a hold rating to a buy rating in a research report sent to investors on Wednesday, October 4th.
A number of other brokerages have also issued reports on TMHC. Zacks Investment Research raised Taylor Morrison Home Corp from a hold rating to a buy rating and set a $27.00 target price on the stock in a research report on Tuesday, July 4th. Deutsche Bank AG boosted their price objective on Taylor Morrison Home Corp from $25.00 to $27.00 and gave the company a buy rating in a report on Monday, August 7th. Four equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $24.00.
Taylor Morrison Home Corp (NASDAQ TMHC) traded up 0.49% on Wednesday, hitting $22.64. The stock had a trading volume of 1,342,540 shares. The company has a 50-day moving average of $21.30 and a 200 day moving average of $22.55. The company has a market cap of $1.64 billion and a PE ratio of 13.63. Taylor Morrison Home Corp has a 12 month low of $15.82 and a 12 month high of $24.79.
Taylor Morrison Home Corp (NASDAQ:TMHC) last announced its earnings results on Wednesday, August 2nd. The construction company reported $0.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.08. Taylor Morrison Home Corp had a return on equity of 9.57% and a net margin of 6.16%. The business had revenue of $908.49 million for the quarter, compared to analyst estimates of $849.70 million. During the same period in the previous year, the company earned $0.37 earnings per share. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, analysts predict that Taylor Morrison Home Corp will post $1.91 EPS for the current fiscal year.
Taylor Morrison Home Corp declared that its Board of Directors has initiated a stock buyback program on Monday, September 18th that allows the company to buyback $43.60 million in shares. This buyback authorization allows the construction company to repurchase up to 2.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.
In other Taylor Morrison Home Corp news, insider C. David Cone sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, October 5th. The stock was sold at an average price of $22.83, for a total value of $456,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Large investors have recently made changes to their positions in the company. Ameritas Investment Partners Inc. lifted its position in shares of Taylor Morrison Home Corp by 62.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,369 shares of the construction company’s stock valued at $129,000 after acquiring an additional 2,060 shares during the last quarter. Victory Capital Management Inc. raised its stake in Taylor Morrison Home Corp by 34.2% during the 1st quarter. Victory Capital Management Inc. now owns 6,315 shares of the construction company’s stock valued at $135,000 after purchasing an additional 1,608 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Taylor Morrison Home Corp by 20.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,409 shares of the construction company’s stock valued at $154,000 after purchasing an additional 1,110 shares during the period. Great West Life Assurance Co. Can increased its stake in shares of Taylor Morrison Home Corp by 52.9% in the second quarter. Great West Life Assurance Co. Can now owns 6,882 shares of the construction company’s stock worth $165,000 after acquiring an additional 2,382 shares during the last quarter. Finally, UBS Group AG increased its stake in shares of Taylor Morrison Home Corp by 4.7% in the first quarter. UBS Group AG now owns 6,909 shares of the construction company’s stock worth $147,000 after acquiring an additional 307 shares during the last quarter.
About Taylor Morrison Home Corp
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).