Taylor Morrison Home (NYSE:TMHC) PT Raised to $77.00 at Royal Bank of Canada

Taylor Morrison Home (NYSE:TMHC) had its price target upped by Royal Bank of Canada from $74.00 to $77.00 in a research note released on Thursday, Benzinga reports. The brokerage currently has an outperform rating on the construction company’s stock.

A number of other research analysts have also recently weighed in on TMHC. Barclays lifted their target price on shares of Taylor Morrison Home from $72.00 to $75.00 and gave the company an “equal weight” rating in a research note on Thursday. StockNews.com cut shares of Taylor Morrison Home from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. Raymond James started coverage on shares of Taylor Morrison Home in a report on Wednesday, July 24th. They set an “outperform” rating and a $75.00 price target on the stock. Wedbush reiterated a “neutral” rating and set a $65.00 price target on shares of Taylor Morrison Home in a report on Wednesday. Finally, BTIG Research upgraded shares of Taylor Morrison Home from a “neutral” rating to a “buy” rating and set a $78.00 target price on the stock in a research note on Monday, August 19th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $75.83.

Taylor Morrison Home Stock Up 1.3 %

Shares of NYSE TMHC traded up $0.89 on Thursday, reaching $69.25. 118,313 shares of the company’s stock traded hands, compared to its average volume of 788,675. Taylor Morrison Home has a 12 month low of $37.23 and a 12 month high of $71.95. The business’s 50 day simple moving average is $67.44 and its two-hundred day simple moving average is $61.57. The company has a market cap of $7.32 billion, a price-to-earnings ratio of 9.78 and a beta of 1.96. The company has a quick ratio of 0.67, a current ratio of 6.01 and a debt-to-equity ratio of 0.39.

Taylor Morrison Home (NYSE:TMHC) last announced its quarterly earnings data on Wednesday, October 23rd. The construction company reported $2.37 earnings per share for the quarter, topping analysts’ consensus estimates of $2.06 by $0.31. Taylor Morrison Home had a net margin of 9.92% and a return on equity of 14.99%. The company had revenue of $2.12 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same period in the previous year, the business earned $1.62 EPS. The firm’s revenue for the quarter was up 26.6% on a year-over-year basis. As a group, equities research analysts forecast that Taylor Morrison Home will post 8.15 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director William H. Lyon sold 1,741 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $68.03, for a total transaction of $118,440.23. Following the completion of the sale, the director now directly owns 2,195,316 shares of the company’s stock, valued at approximately $149,347,347.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of TMHC. Forum Financial Management LP boosted its stake in shares of Taylor Morrison Home by 3.9% in the second quarter. Forum Financial Management LP now owns 4,430 shares of the construction company’s stock valued at $246,000 after buying an additional 165 shares in the last quarter. Resonant Capital Advisors LLC boosted its position in Taylor Morrison Home by 2.1% during the third quarter. Resonant Capital Advisors LLC now owns 9,103 shares of the construction company’s stock worth $640,000 after purchasing an additional 191 shares in the last quarter. TCW Group Inc. boosted its position in Taylor Morrison Home by 0.4% during the second quarter. TCW Group Inc. now owns 52,193 shares of the construction company’s stock worth $2,894,000 after purchasing an additional 213 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of Taylor Morrison Home by 0.9% in the second quarter. Arizona State Retirement System now owns 29,795 shares of the construction company’s stock worth $1,652,000 after acquiring an additional 266 shares during the last quarter. Finally, SummerHaven Investment Management LLC raised its holdings in shares of Taylor Morrison Home by 1.8% in the second quarter. SummerHaven Investment Management LLC now owns 14,831 shares of the construction company’s stock worth $822,000 after acquiring an additional 267 shares during the last quarter. 95.16% of the stock is owned by institutional investors and hedge funds.

Taylor Morrison Home Company Profile

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.