Taylor Morrison Home Corporation (NYSE:TMHC) Receives $76.88 Average Target Price from Brokerages

Taylor Morrison Home Corporation (NYSE:TMHC) has been assigned an average recommendation of “Buy” from the nine ratings firms that are currently covering the company, Marketbeat.com reports. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $77.50.

TMHC has been the subject of several analyst reports. Wall Street Zen downgraded Taylor Morrison Home from a “buy” rating to a “hold” rating in a report on Sunday, June 1st. Bank of America increased their price target on Taylor Morrison Home from $72.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Seaport Res Ptn raised Taylor Morrison Home from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 23rd.

Taylor Morrison Home Price Performance

TMHC stock opened at $69.22 on Friday. Taylor Morrison Home has a 1 year low of $51.90 and a 1 year high of $75.49. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.74 and a current ratio of 6.54. The stock’s 50 day moving average price is $66.02 and its 200 day moving average price is $61.40. The firm has a market cap of $6.95 billion, a P/E ratio of 7.99 and a beta of 1.58.

Taylor Morrison Home (NYSE:TMHC) last posted its 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 return on equity of 16.22% and a net margin of 10.72%.The firm had revenue of $2.03 billion for the quarter, compared to analyst estimates of $1.93 billion. During the same quarter in the prior year, the company earned $1.86 EPS. Taylor Morrison Home’s revenue was up 2.0% on a year-over-year basis. On average, sell-side analysts expect that Taylor Morrison Home will post 8.93 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Taylor Morrison Home news, CFO Curtis Vanhyfte sold 9,754 shares of the stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $65.22, for a total transaction of $636,155.88. Following the transaction, the chief financial officer owned 14,163 shares of the company’s stock, valued at $923,710.86. This represents a 40.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Sheryl Palmer sold 25,000 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $70.20, for a total value of $1,755,000.00. Following the transaction, the chief executive officer directly owned 383,988 shares in the company, valued at approximately $26,955,957.60. This represents a 6.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 67,351 shares of company stock valued at $4,700,630 in the last quarter. 1.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Atlantic Union Bankshares Corp purchased a new position in shares of Taylor Morrison Home in the 2nd quarter worth $28,000. AlphaCore Capital LLC purchased a new position in shares of Taylor Morrison Home in the 2nd quarter worth $37,000. GAMMA Investing LLC raised its position in shares of Taylor Morrison Home by 193.0% in the 1st quarter. GAMMA Investing LLC now owns 674 shares of the construction company’s stock worth $40,000 after buying an additional 444 shares during the period. Farther Finance Advisors LLC raised its position in shares of Taylor Morrison Home by 49.5% in the 1st quarter. Farther Finance Advisors LLC now owns 791 shares of the construction company’s stock worth $48,000 after buying an additional 262 shares during the period. Finally, Harbor Capital Advisors Inc. raised its position in shares of Taylor Morrison Home by 50.2% in the 1st quarter. Harbor Capital Advisors Inc. now owns 844 shares of the construction company’s stock worth $51,000 after buying an additional 282 shares during the period. 95.16% of the stock is owned by hedge funds and other institutional investors.

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.