JMP Securities Upgrades Taylor Morrison Home (TMHC) to Outperform

Taylor Morrison Home (NYSE:TMHC) was upgraded by stock analysts at JMP Securities from a “market perform” rating to an “outperform” rating in a note issued to investors on Thursday, MarketBeat Ratings reports. The firm currently has a $31.00 price target on the construction company’s stock. JMP Securities’ price target indicates a potential upside of 29.60% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. ValuEngine cut shares of Taylor Morrison Home from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 2nd. Citigroup raised shares of Taylor Morrison Home from a “neutral” rating to a “buy” rating and set a $30.00 target price for the company in a research report on Tuesday, January 2nd. BidaskClub cut shares of Taylor Morrison Home from a “buy” rating to a “hold” rating in a research report on Saturday, November 4th. Barclays set a $27.00 target price on shares of Taylor Morrison Home and gave the company a “hold” rating in a research report on Monday, January 8th. Finally, Wedbush reissued a “neutral” rating and issued a $27.00 target price on shares of Taylor Morrison Home in a research report on Friday, January 12th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company’s stock. Taylor Morrison Home currently has an average rating of “Buy” and a consensus price target of $28.22.

Taylor Morrison Home (TMHC) traded down $0.18 during mid-day trading on Thursday, reaching $23.92. 3,476,972 shares of the company’s stock were exchanged, compared to its average volume of 2,576,630. 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 $18.41 and a 1 year high of $28.42. The company has a market capitalization of $2,859.80, a PE ratio of 16.27, a price-to-earnings-growth ratio of 0.78 and a beta of 1.44.

Taylor Morrison Home (NYSE:TMHC) last released its quarterly earnings data on Wednesday, February 7th. The construction company reported $0.77 EPS for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.07. Taylor Morrison Home had a net margin of 2.36% and a return on equity of 5.82%. The firm had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same period in the previous year, the business posted $0.63 earnings per share. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. research analysts expect that Taylor Morrison Home will post 2.6 EPS for the current fiscal year.

Taylor Morrison Home announced that its Board of Directors has initiated a share buyback plan on Wednesday, January 3rd that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the construction company to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

In related news, insider Group Holdings (Sbs) Advis Tpg sold 1,499,732 shares of the company’s stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $27.14, for a total transaction of $40,702,726.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.40% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp lifted its position in Taylor Morrison Home by 13.0% during the third quarter. Bank of New York Mellon Corp now owns 356,953 shares of the construction company’s stock worth $7,871,000 after purchasing an additional 40,989 shares during the period. California Public Employees Retirement System lifted its position in Taylor Morrison Home by 6.5% during the third quarter. California Public Employees Retirement System now owns 80,843 shares of the construction company’s stock worth $1,783,000 after purchasing an additional 4,943 shares during the period. BlackRock Inc. lifted its position in Taylor Morrison Home by 51.5% during the second quarter. BlackRock Inc. now owns 6,585,230 shares of the construction company’s stock worth $158,111,000 after purchasing an additional 2,239,679 shares during the period. Wells Fargo & Company MN lifted its position in Taylor Morrison Home by 17.1% during the third quarter. Wells Fargo & Company MN now owns 536,937 shares of the construction company’s stock worth $11,839,000 after purchasing an additional 78,602 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its position in Taylor Morrison Home by 4.3% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 288,112 shares of the construction company’s stock worth $6,353,000 after purchasing an additional 11,999 shares during the period. 57.67% of the stock is owned by institutional investors and hedge funds.

TRADEMARK VIOLATION NOTICE: “JMP Securities Upgrades Taylor Morrison Home (TMHC) to Outperform” was first posted by American Banking News and is owned by of American Banking News. If you are reading this report on another site, it was stolen and reposted in violation of US & international copyright law. The legal version of this report can be accessed at https://www.americanbankingnews.com/2018/02/11/jmp-securities-upgrades-taylor-morrison-home-tmhc-to-outperform.html.

About Taylor Morrison Home

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).

Analyst Recommendations for Taylor Morrison Home (NYSE:TMHC)

Receive News & Ratings for Taylor Morrison Home Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Taylor Morrison Home and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply