Taylor Morrison Home (NYSE:TMHC) Price Target Raised to $63.00 at Royal Bank of Canada

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

Several other equities analysts have also weighed in on TMHC. Wedbush restated a neutral rating and set a $55.00 target price on shares of Taylor Morrison Home in a report on Tuesday. Seaport Res Ptn downgraded Taylor Morrison Home from a buy rating to a neutral rating in a report on Monday, January 22nd. Barclays boosted their price objective on shares of Taylor Morrison Home from $55.00 to $60.00 and gave the stock an equal weight rating in a research note on Thursday, February 15th. StockNews.com lowered shares of Taylor Morrison Home from a buy rating to a hold rating in a research report on Thursday, March 21st. Finally, Zelman & Associates raised Taylor Morrison Home from an underperform rating to a neutral rating in a research report on Friday, April 12th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and an average price target of $58.20.

Taylor Morrison Home Stock Performance

Shares of TMHC opened at $57.20 on Wednesday. Taylor Morrison Home has a 52 week low of $37.23 and a 52 week high of $62.64. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.13 and a current ratio of 6.16. The company has a market capitalization of $6.09 billion, a PE ratio of 8.18 and a beta of 1.88. The company’s 50 day moving average price is $57.61 and its 200 day moving average price is $51.83.

Taylor Morrison Home (NYSE:TMHC) last announced its quarterly earnings results on Tuesday, April 30th. The construction company reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same period in the previous year, the company earned $1.74 EPS. The firm’s revenue was up 2.3% on a year-over-year basis. Research analysts expect that Taylor Morrison Home will post 7.29 EPS for the current fiscal year.

Insider Transactions at Taylor Morrison Home

In related news, Director William H. Lyon sold 20,896 shares of the company’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $56.01, for a total value of $1,170,384.96. Following the completion of the transaction, the director now directly owns 2,837,020 shares in the company, valued at $158,901,490.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Taylor Morrison Home news, CFO Curtis Vanhyfte sold 9,874 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $57.70, for a total transaction of $569,729.80. Following the completion of the transaction, the chief financial officer now directly owns 7,765 shares in the company, valued at $448,040.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William H. Lyon sold 20,896 shares of Taylor Morrison Home stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $56.01, for a total value of $1,170,384.96. Following the transaction, the director now directly owns 2,837,020 shares of the company’s stock, valued at $158,901,490.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 613,537 shares of company stock worth $36,409,767. 3.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Taylor Morrison Home

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nordea Investment Management AB increased its stake in shares of Taylor Morrison Home by 30.4% in the fourth quarter. Nordea Investment Management AB now owns 108,431 shares of the construction company’s stock valued at $5,823,000 after buying an additional 25,250 shares in the last quarter. Teachers Retirement System of The State of Kentucky grew its stake in shares of Taylor Morrison Home by 89.4% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 38,103 shares of the construction company’s stock valued at $1,623,000 after purchasing an additional 17,986 shares during the last quarter. TFB Advisors LLC acquired a new stake in shares of Taylor Morrison Home in the fourth quarter valued at approximately $207,000. Rhumbline Advisers raised its position in Taylor Morrison Home by 0.3% in the 3rd quarter. Rhumbline Advisers now owns 388,101 shares of the construction company’s stock worth $16,537,000 after purchasing an additional 1,053 shares during the last quarter. Finally, Raymond James & Associates lifted its holdings in Taylor Morrison Home by 91.9% during the 3rd quarter. Raymond James & Associates now owns 51,591 shares of the construction company’s stock worth $2,198,000 after buying an additional 24,701 shares in the last quarter. 95.16% of the stock is currently owned by institutional investors and hedge funds.

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.