Taylor Morrison Home (NYSE:TMHC) Price Target Raised to $63.00

Taylor Morrison Home (NYSE:TMHC) had its price target increased by Royal Bank of Canada from $61.00 to $63.00 in a report issued on Wednesday morning, Benzinga reports. The brokerage currently has an outperform rating on the construction company’s stock.

TMHC has been the topic of a number of other research reports. StockNews.com cut shares of Taylor Morrison Home from a buy rating to a hold rating in a report on Thursday, March 21st. Barclays upped their price target on shares of Taylor Morrison Home from $55.00 to $60.00 and gave the company an equal weight rating in a research note on Thursday, February 15th. Seaport Res Ptn lowered Taylor Morrison Home from a buy rating to a neutral rating in a report on Monday, January 22nd. Zelman & Associates upgraded shares of Taylor Morrison Home from an underperform rating to a neutral rating in a research report on Friday, April 12th. Finally, Wedbush reiterated a neutral rating and set a $55.00 price target on shares of Taylor Morrison Home in a research report on Tuesday. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $58.20.

Taylor Morrison Home Trading Up 1.7 %

Shares of TMHC stock opened at $57.20 on Wednesday. The company has a market cap of $6.09 billion, a P/E ratio of 8.18 and a beta of 1.88. The stock has a 50 day simple moving average of $57.61 and a two-hundred day simple moving average of $51.83. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.13 and a current ratio of 6.16. Taylor Morrison Home has a fifty-two week low of $37.23 and a fifty-two week high of $62.64.

Taylor Morrison Home (NYSE:TMHC) last posted its earnings results on Tuesday, April 30th. The construction company reported $1.75 earnings per share for the quarter, beating analysts’ consensus estimates of $1.57 by $0.18. Taylor Morrison Home had a return on equity of 15.75% and a net margin of 10.30%. The company had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same quarter last year, the company earned $1.74 earnings per share. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. Research analysts forecast that Taylor Morrison Home will post 7.29 earnings per share for the current year.

Insider Buying and Selling

In related news, Director William H. Lyon sold 153,000 shares of Taylor Morrison Home stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $62.32, for a total value of $9,534,960.00. Following the transaction, the director now directly owns 40,570 shares of the company’s stock, valued at $2,528,322.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director William H. Lyon sold 33,400 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $56.04, for a total value of $1,871,736.00. Following the completion of the sale, the director now directly owns 71,570 shares of the company’s stock, valued at approximately $4,010,782.80. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director William H. Lyon sold 153,000 shares of the business’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $62.32, for a total transaction of $9,534,960.00. Following the transaction, the director now owns 40,570 shares in the company, valued at approximately $2,528,322.40. The disclosure for this sale can be found here. Insiders have sold a total of 613,537 shares of company stock worth $36,409,767 in the last ninety days. 3.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. TFB Advisors LLC lifted its position in Taylor Morrison Home by 73.1% during the 1st quarter. TFB Advisors LLC now owns 6,726 shares of the construction company’s stock valued at $418,000 after acquiring an additional 2,840 shares during the period. Daiwa Securities Group Inc. raised its stake in Taylor Morrison Home by 644.4% during the first quarter. Daiwa Securities Group Inc. now owns 6,700 shares of the construction company’s stock valued at $417,000 after buying an additional 5,800 shares during the last quarter. Nordea Investment Management AB boosted its holdings in Taylor Morrison Home by 11.2% in the first quarter. Nordea Investment Management AB now owns 120,611 shares of the construction company’s stock worth $7,547,000 after acquiring an additional 12,180 shares in the last quarter. Fidelis Capital Partners LLC bought a new stake in Taylor Morrison Home in the first quarter worth $82,000. Finally, Sippican Capital Advisors purchased a new stake in shares of Taylor Morrison Home in the first quarter worth $218,000. Hedge funds and other institutional investors own 95.16% of the company’s stock.

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.