Taylor Morrison Home Corp (TMHC) Lowered to “Hold” at BidaskClub
Taylor Morrison Home Corp (NASDAQ:TMHC) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.
Other analysts also recently issued reports about the company. Deutsche Bank AG upped their price objective on Taylor Morrison Home Corp from $25.00 to $27.00 and gave the stock a “buy” rating in a research report on Monday, August 7th. Zacks Investment Research downgraded Taylor Morrison Home Corp from a “buy” rating to a “hold” rating in a research report on Saturday, August 5th. Finally, ValuEngine downgraded Taylor Morrison Home Corp from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $24.00.
Shares of Taylor Morrison Home Corp (NASDAQ:TMHC) traded down $0.90 during mid-day trading on Friday, hitting $22.96. The company had a trading volume of 1,746,093 shares, compared to its average volume of 1,010,000. Taylor Morrison Home Corp has a twelve month low of $17.39 and a twelve month high of $24.79.
Taylor Morrison Home Corp (NASDAQ:TMHC) last released its quarterly earnings results on Wednesday, November 1st. The construction company reported $0.45 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.04. The business had revenue of $908.00 million during the quarter, compared to the consensus estimate of $914.19 million. Taylor Morrison Home Corp had a return on equity of 9.57% and a net margin of 6.16%. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.49 EPS.
Taylor Morrison Home Corp announced that its Board of Directors has authorized a stock repurchase plan on Monday, September 18th that authorizes the company to repurchase $43.60 million in shares. This repurchase authorization authorizes the construction company to buy up to 2.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
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In other news, insider C. David Cone sold 35,000 shares of the stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $23.79, for a total value of $832,650.00. Following the completion of the sale, the insider now owns 42,511 shares of the company’s stock, valued at $1,011,336.69. The sale was disclosed in a legal filing with the SEC, which is available at this link.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TMHC. Bank of New York Mellon Corp grew its stake in Taylor Morrison Home Corp by 48.3% during the first quarter. Bank of New York Mellon Corp now owns 251,627 shares of the construction company’s stock worth $5,366,000 after purchasing an additional 81,998 shares during the period. UBS Asset Management Americas Inc. bought a new position in Taylor Morrison Home Corp in the first quarter worth approximately $258,000. Parametric Portfolio Associates LLC boosted its holdings in Taylor Morrison Home Corp by 11.6% in the first quarter. Parametric Portfolio Associates LLC now owns 16,219 shares of the construction company’s stock worth $346,000 after acquiring an additional 1,692 shares in the last quarter. American International Group Inc. boosted its holdings in Taylor Morrison Home Corp by 38.2% in the first quarter. American International Group Inc. now owns 24,163 shares of the construction company’s stock worth $515,000 after acquiring an additional 6,685 shares in the last quarter. Finally, Teachers Advisors LLC boosted its holdings in Taylor Morrison Home Corp by 23.7% in the first quarter. Teachers Advisors LLC now owns 65,686 shares of the construction company’s stock worth $1,400,000 after acquiring an additional 12,564 shares in the last quarter.
Taylor Morrison Home Corp Company Profile
Taylor Morrison Home Corporation is a homebuilder, which designs, builds and sells single-family detached and attached homes. The Company is also a land developer, with a portfolio of lifestyle and master-planned communities. Its segments include East, which includes Atlanta, Charlotte, North Florida, Raleigh, Southwest Florida and Tampa; Central, which includes Austin, Dallas, and Houston (each of the Dallas and Houston markets include both a Taylor Morrison division and a Darling Homes division); West, which includes Bay Area, Chicago, Denver, Phoenix, Sacramento and Southern California, and Mortgage Operations, which includes Taylor Morrison Home Funding, LLC (TMHF) and Inspired Title Services, LLC (Inspired Title).
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