Taylor Morrison Home (NYSE:TMHC) Shares Down 3% After Analyst Downgrade

Shares of Taylor Morrison Home Co. (NYSE:TMHCGet Rating) fell 3% on Friday after Wells Fargo & Company lowered their price target on the stock from $28.00 to $25.00. Wells Fargo & Company currently has an equal weight rating on the stock. Taylor Morrison Home traded as low as $20.50 and last traded at $20.65. 23,751 shares traded hands during mid-day trading, a decline of 98% from the average session volume of 995,217 shares. The stock had previously closed at $21.29.

Several other research analysts have also recently commented on the stock. Credit Suisse Group initiated coverage on shares of Taylor Morrison Home in a report on Tuesday, April 5th. They issued a “neutral” rating and a $32.00 target price for the company. StockNews.com assumed coverage on shares of Taylor Morrison Home in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Barclays downgraded shares of Taylor Morrison Home from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $41.00 to $33.00 in a research note on Thursday, March 31st. B. Riley downgraded shares of Taylor Morrison Home from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $36.00 to $28.00 in a research note on Thursday. Finally, JPMorgan Chase & Co. decreased their price target on shares of Taylor Morrison Home from $40.00 to $30.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 13th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $31.00.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Larson Financial Group LLC acquired a new position in Taylor Morrison Home in the fourth quarter valued at approximately $26,000. Lazard Asset Management LLC bought a new position in shares of Taylor Morrison Home during the 1st quarter valued at about $44,000. Covestor Ltd bought a new position in shares of Taylor Morrison Home during the 4th quarter valued at about $54,000. Quantbot Technologies LP bought a new position in Taylor Morrison Home during the 1st quarter worth approximately $77,000. Finally, Counterpoint Mutual Funds LLC bought a new position in Taylor Morrison Home during the 1st quarter worth approximately $80,000. Institutional investors own 94.05% of the company’s stock.

The stock has a market capitalization of $2.43 billion, a P/E ratio of 3.60 and a beta of 1.67. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.83 and a current ratio of 5.62. The stock has a 50-day moving average price of $27.27 and a two-hundred day moving average price of $29.74.

Taylor Morrison Home (NYSE:TMHCGet Rating) last announced its quarterly earnings data on Wednesday, April 27th. The construction company reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.18. Taylor Morrison Home had a return on equity of 19.17% and a net margin of 9.53%. The business had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter in the previous year, the business earned $0.75 earnings per share. The firm’s quarterly revenue was up 20.1% compared to the same quarter last year. Equities analysts anticipate that Taylor Morrison Home Co. will post 9.19 earnings per share for the current fiscal year.

About Taylor Morrison Home (NYSE:TMHC)

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 also develops and constructs multi-use properties consisting of commercial space, retail, and multi-family properties under the Urban Form brand name; and offers title insurance and closing settlement services, as well as financial services.

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