Bank of America Forecasts Strong Price Appreciation for Taylor Morrison Home (NYSE:TMHC) Stock
Bank of America has raised its price target for Taylor Morrison Home (NYSE:TMHC) from $72.00 to $75.00, maintaining a "buy" rating. This suggests an 8.83% potential upside from the previous close. Other firms have also adjusted their ratings, with one upgrading to "strong-buy". TMHC's stock traded at $68.92, with a market cap of $6.92 billion and a PE ratio of 7.95. The company reported $2.02 EPS for the last quarter, exceeding estimates, and revenue increased by 2% year-over-year.
Taylor Morrison Home (NYSE:TMHC - Get Free Report) had its price target lifted by Bank of America from $72.00 to $75.00 in a report released on Thursday,Benzinga reports. The firm currently has a "buy" rating on the construction company's stock. Bank of America's price objective would suggest a potential upside of 8.83% from the company's previous close.
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A number of other research firms have also recently commented on TMHC. Seaport Res Ptn raised shares of Taylor Morrison Home from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 23rd. Wall Street Zen cut shares of Taylor Morrison Home from a "buy" rating to a "hold" rating in a research note on Sunday, June 1st. One investment analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company's stock. According to MarketBeat.com, Taylor Morrison Home has an average rating of "Buy" and an average price target of $77.50.
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Taylor Morrison Home Price Performance
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NYSE TMHC traded up $0.73 on Thursday, reaching $68.92. The company had a trading volume of 361,139 shares, compared to its average volume of 1,081,094. The company has a quick ratio of 0.74, a current ratio of 6.54 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $6.92 billion, a PE ratio of 7.95 and a beta of 1.58. The firm's 50 day moving average price is $65.95 and its 200 day moving average price is $61.34. Taylor Morrison Home has a 12 month low of $51.90 and a 12 month high of $75.49.
Taylor Morrison Home (NYSE:TMHC - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The construction company reported $2.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.94 by $0.08. Taylor Morrison Home had a net margin of 10.72% and a return on equity of 16.22%. The company had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $1.93 billion. During the same period in the previous year, the firm posted $1.86 EPS. Taylor Morrison Home's revenue for the quarter was up 2.0% compared to the same quarter last year. As a group, equities analysts predict that Taylor Morrison Home will post 8.93 earnings per share for the current year.
Insider Buying and Selling
In related news, Director Anne L. Mariucci sold 14,002 shares of the firm's stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $70.00, for a total transaction of $980,140.00. Following the completion of the sale, the director directly owned 48,191 shares in the company, valued at approximately $3,373,370. This trade represents a 22.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Curtis Vanhyfte sold 5,082 shares of the firm's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $69.97, for a total transaction of $355,587.54. Following the sale, the chief financial officer owned 11,742 shares of the company's stock, valued at approximately $821,587.74. The trade was a 30.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 67,351 shares of company stock worth $4,700,630. Insiders own 1.40% of the company's stock.
Institutional Investors Weigh In On Taylor Morrison Home
A number of institutional investors have recently made changes to their positions in the stock. Osaic Holdings Inc. increased its position in shares of Taylor Morrison Home by 1,442.1% during the second quarter. Osaic Holdings Inc. now owns 80,264 shares of the construction company's stock valued at $4,824,000 after acquiring an additional 75,059 shares during the last quarter. Coppell Advisory Solutions LLC boosted its stake in shares of Taylor Morrison Home by 73.8% in the second quarter. Coppell Advisory Solutions LLC now owns 31,559 shares of the construction company's stock valued at $1,934,000 after purchasing an additional 13,398 shares during the period. State of Wyoming purchased a new position in shares of Taylor Morrison Home in the second quarter valued at approximately $321,000. Hohimer Wealth Management LLC purchased a new position in shares of Taylor Morrison Home in the second quarter valued at approximately $201,000. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Taylor Morrison Home by 70.2% in the second quarter. Tower Research Capital LLC TRC now owns 11,730 shares of the construction company's stock valued at $720,000 after purchasing an additional 4,838 shares during the period. 95.16% of the stock is currently owned by institutional investors and hedge funds.
About Taylor Morrison Home
(Get Free Report)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.
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