JPMorgan Chase & Co. Cuts Taylor Morrison Home (NYSE:TMHC) Price Target to $82.00

Taylor Morrison Home (NYSE:TMHC) had its target price reduced by JPMorgan Chase & Co. from $90.00 to $82.00 in a research note released on Tuesday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the construction company’s stock.

A number of other brokerages have also weighed in on TMHC. StockNews.com lowered Taylor Morrison Home from a “buy” rating to a “hold” rating in a research note on Wednesday, January 8th. Wedbush upgraded shares of Taylor Morrison Home from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $65.00 to $85.00 in a research report on Friday, October 25th. BTIG Research upped their target price on shares of Taylor Morrison Home from $78.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Raymond James reissued an “outperform” rating and issued a $84.00 price target (up previously from $81.00) on shares of Taylor Morrison Home in a report on Tuesday, October 29th. Finally, Barclays raised Taylor Morrison Home from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $75.00 to $90.00 in a report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.43.

Taylor Morrison Home Price Performance

Shares of Taylor Morrison Home stock opened at $62.07 on Tuesday. The stock has a market capitalization of $6.42 billion, a price-to-earnings ratio of 7.50 and a beta of 2.03. The firm’s 50-day moving average price is $63.00 and its two-hundred day moving average price is $66.24. The company has a current ratio of 6.39, a quick ratio of 0.94 and a debt-to-equity ratio of 0.36. Taylor Morrison Home has a 1-year low of $53.17 and a 1-year high of $75.49.

Taylor Morrison Home (NYSE:TMHC) last released its quarterly earnings results on Wednesday, February 12th. The construction company reported $2.64 EPS for the quarter, topping analysts’ consensus estimates of $2.40 by $0.24. Taylor Morrison Home had a return on equity of 16.50% and a net margin of 10.81%. On average, equities analysts predict that Taylor Morrison Home will post 9.11 earnings per share for the current fiscal year.

Insider Buying and Selling at Taylor Morrison Home

In related news, Director William H. Lyon sold 24,284 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $74.46, for a total transaction of $1,808,186.64. Following the completion of the sale, the director now directly owns 2,045,316 shares of the company’s stock, valued at approximately $152,294,229.36. This represents a 1.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. State Street Corp lifted its position in shares of Taylor Morrison Home by 2.8% in the third quarter. State Street Corp now owns 4,987,968 shares of the construction company’s stock worth $350,455,000 after purchasing an additional 136,432 shares in the last quarter. Principal Financial Group Inc. increased its stake in Taylor Morrison Home by 3.5% in the 3rd quarter. Principal Financial Group Inc. now owns 2,051,580 shares of the construction company’s stock valued at $144,144,000 after buying an additional 69,222 shares during the last quarter. Northern Trust Corp increased its stake in Taylor Morrison Home by 13.4% in the 4th quarter. Northern Trust Corp now owns 1,670,241 shares of the construction company’s stock valued at $102,235,000 after buying an additional 197,880 shares during the last quarter. Norges Bank bought a new stake in Taylor Morrison Home during the 4th quarter worth about $93,810,000. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of Taylor Morrison Home by 1.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,369,832 shares of the construction company’s stock worth $83,847,000 after buying an additional 20,908 shares during the last quarter. 95.16% of the stock is currently owned by institutional investors.

About Taylor Morrison Home

Taylor Morrison Home Corporation, together with its subsidiaries, operates as a public homebuilder in the United States. The company designs, builds, and sells single and multi-family detached and attached homes; and develops lifestyle and master-planned communities. It develops and constructs multi-use properties consisting of commercial space, retail, and multi-family properties under the Urban Form brand name.