Taylor Morrison Home (TMHC) Lifted to Outperform at Royal Bank of Canada

Taylor Morrison Home (NYSE:TMHC) was upgraded by stock analysts at Royal Bank of Canada from a “sector perform” rating to an “outperform” rating in a research note issued on Thursday, The Fly reports.

Several other analysts have also weighed in on TMHC. Zacks Investment Research upgraded Taylor Morrison Home from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a report on Thursday, January 17th. TheStreet upgraded Taylor Morrison Home from a “c+” rating to a “b-” rating in a report on Monday, January 28th. B. Riley increased their price target on Taylor Morrison Home from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Thursday, February 14th. ValuEngine lowered Taylor Morrison Home from a “sell” rating to a “strong sell” rating in a research note on Friday, February 15th. Finally, JPMorgan Chase & Co. upgraded Taylor Morrison Home from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $18.50 to $20.00 in a research note on Thursday, March 7th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Taylor Morrison Home presently has a consensus rating of “Buy” and an average target price of $22.59.

NYSE:TMHC opened at $20.85 on Thursday. Taylor Morrison Home has a fifty-two week low of $14.73 and a fifty-two week high of $22.59. The firm has a market cap of $2.26 billion, a P/E ratio of 7.87, a P/E/G ratio of 1.01 and a beta of 1.19. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.63 and a current ratio of 7.85.

Taylor Morrison Home (NYSE:TMHC) last released its quarterly earnings results on Wednesday, May 1st. The construction company reported $0.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.10. Taylor Morrison Home had a return on equity of 12.89% and a net margin of 4.83%. The company had revenue of $925.10 million for the quarter, compared to analyst estimates of $872.44 million. During the same quarter in the prior year, the firm posted $0.41 EPS. Taylor Morrison Home’s quarterly revenue was up 23.0% compared to the same quarter last year. Sell-side analysts forecast that Taylor Morrison Home will post 2.62 EPS for the current year.

In other Taylor Morrison Home news, insider Joseph Terracciano sold 2,323 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $16.84, for a total value of $39,119.32. Following the sale, the insider now owns 2,050 shares in the company, valued at $34,522. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 1.90% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Taylor Morrison Home by 1.9% during the 3rd quarter. Vanguard Group Inc. now owns 10,537,928 shares of the construction company’s stock worth $190,104,000 after buying an additional 197,582 shares in the last quarter. BlackRock Inc. grew its position in shares of Taylor Morrison Home by 10.1% during the 1st quarter. BlackRock Inc. now owns 10,028,276 shares of the construction company’s stock worth $178,002,000 after buying an additional 921,369 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Taylor Morrison Home by 8.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 9,501,975 shares of the construction company’s stock worth $168,663,000 after buying an additional 767,180 shares in the last quarter. Donald Smith & CO. Inc. grew its position in shares of Taylor Morrison Home by 0.8% during the 4th quarter. Donald Smith & CO. Inc. now owns 8,593,698 shares of the construction company’s stock worth $136,640,000 after buying an additional 69,663 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of Taylor Morrison Home by 3.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,253,718 shares of the construction company’s stock worth $58,697,000 after buying an additional 108,074 shares in the last quarter.

Taylor Morrison Home Company Profile

Taylor Morrison Home Corporation operates as a public homebuilder in the United States. The company designs, builds, and sells single-family and multi-family attached and detached homes; and develops lifestyle and master-planned communities. It operates under the Taylor Morrison and Darling Homes brand names in Arizona, California, Colorado, Florida, Georgia, Illinois, North Carolina and Texas.

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