Taylor Morrison Home (TMHC) Cut to Sell at Zacks Investment Research

Taylor Morrison Home (NYSE:TMHC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Friday.

According to Zacks, “Taylor Morrison Home Corporation is a homebuilder and land developer engaged in building single-family detached and attached homes for first-time buyers, move-up families to luxury and active adult customers. The company operates under the Taylor Morrison brand, Monarch brand and Darling Homes brand. It operates in Arizona, California, Colorado, Florida and Texas. Taylor Morrison Home Corporation is headquartered in Scottsdale, Arizona. “

Several other equities research analysts have also commented on the company. Wells Fargo & Co upgraded Taylor Morrison Home from a “market perform” rating to an “outperform” rating and set a $32.00 price objective for the company in a research note on Friday. Susquehanna Bancshares upgraded Taylor Morrison Home from a “neutral” rating to a “positive” rating in a research note on Thursday. UBS Group upgraded Taylor Morrison Home from a “neutral” rating to a “positive” rating in a research note on Thursday. Citigroup upgraded Taylor Morrison Home from a “neutral” rating to a “buy” rating and set a $30.00 price objective for the company in a research note on Tuesday. Finally, B. Riley restated a “neutral” rating on shares of Taylor Morrison Home in a research note on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $26.83.

Shares of Taylor Morrison Home (NYSE:TMHC) traded down $0.13 on Friday, reaching $26.43. 7,179,700 shares of the company’s stock were exchanged, compared to its average volume of 3,674,333. The stock has a market cap of $3,230.00, a price-to-earnings ratio of 42.63, a PEG ratio of 0.97 and a beta of 1.47. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.81 and a current ratio of 6.85. Taylor Morrison Home has a 1-year low of $18.26 and a 1-year high of $26.92.

Taylor Morrison Home (NYSE:TMHC) last announced its earnings results on Wednesday, November 1st. The construction company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.04. The business had revenue of $908.00 million during the quarter, compared to analyst estimates of $914.19 million. Taylor Morrison Home had a net margin of 2.41% and a return on equity of 4.18%. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.49 EPS. research analysts expect that Taylor Morrison Home will post 1.84 earnings per share for the current fiscal year.

Taylor Morrison Home declared that its Board of Directors has authorized a stock repurchase program on Wednesday, January 3rd that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the construction company to buy shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

In related news, insider C. David Cone sold 35,000 shares of the company’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $23.79, for a total value of $832,650.00. Following the completion of the transaction, the insider now owns 42,511 shares of the company’s stock, valued at approximately $1,011,336.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.40% of the company’s stock.

A number of institutional investors have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Taylor Morrison Home by 20.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,409 shares of the construction company’s stock worth $154,000 after buying an additional 1,110 shares during the period. Victory Capital Management Inc. boosted its holdings in Taylor Morrison Home by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 7,429 shares of the construction company’s stock worth $178,000 after buying an additional 1,114 shares during the period. Ameritas Investment Partners Inc. boosted its holdings in Taylor Morrison Home by 62.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,369 shares of the construction company’s stock worth $129,000 after buying an additional 2,060 shares during the period. Great West Life Assurance Co. Can boosted its holdings in Taylor Morrison Home by 52.9% in the 2nd quarter. Great West Life Assurance Co. Can now owns 6,882 shares of the construction company’s stock worth $165,000 after buying an additional 2,382 shares during the period. Finally, Smith Asset Management Group LP boosted its holdings in Taylor Morrison Home by 18.1% in the 3rd quarter. Smith Asset Management Group LP now owns 20,286 shares of the construction company’s stock worth $447,000 after buying an additional 3,103 shares during the period. 59.08% of the stock is owned by institutional investors.

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Taylor Morrison Home 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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