Taylor Morrison Home (NYSE:TMHC) was upgraded by analysts at Wells Fargo & Co from a “market perform” rating to an “outperform” rating in a research note issued on Friday, Marketbeat Ratings reports. The firm presently has a $32.00 price target on the construction company’s stock. Wells Fargo & Co’s target price points to a potential upside of 16.96% from the company’s previous close.
TMHC has been the topic of a number of other reports. ValuEngine cut shares of Taylor Morrison Home from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 2nd. BidaskClub raised shares of Taylor Morrison Home from a “strong sell” rating to a “sell” rating in a report on Tuesday, September 12th. Susquehanna Bancshares raised shares of Taylor Morrison Home from a “neutral” rating to a “positive” rating in a report on Thursday. B. Riley reaffirmed a “neutral” rating on shares of Taylor Morrison Home in a report on Thursday, November 2nd. Finally, UBS Group raised shares of Taylor Morrison Home from a “neutral” rating to a “positive” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $26.83.
Shares of Taylor Morrison Home (TMHC) opened at $27.36 on Friday. The firm has a market cap of $3,271.08, a P/E ratio of 14.71, a PEG ratio of 0.98 and a beta of 1.47. The company has a current ratio of 6.85, a quick ratio of 0.81 and a debt-to-equity ratio of 0.63. Taylor Morrison Home has a 12-month low of $18.26 and a 12-month high of $27.38.
Taylor Morrison Home declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, January 3rd that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the construction company to repurchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its stock is undervalued.
In other Taylor Morrison Home news, insider C. David Cone sold 35,000 shares of the business’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 transaction, the insider now directly owns 42,511 shares of the company’s stock, valued at approximately $1,011,336.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.40% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank increased its stake 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 valued at $154,000 after buying an additional 1,110 shares during the period. Victory Capital Management Inc. increased its stake 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 valued at $178,000 after buying an additional 1,114 shares during the period. Ameritas Investment Partners Inc. increased its stake 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 valued at $129,000 after buying an additional 2,060 shares during the period. Great West Life Assurance Co. Can increased its stake 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 valued at $165,000 after buying an additional 2,382 shares during the period. Finally, Smith Asset Management Group LP increased its stake 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 valued at $447,000 after buying an additional 3,103 shares during the period. 59.08% of the stock is currently owned by institutional investors.
ILLEGAL ACTIVITY WARNING: This story was posted by American Market News and is the sole property of of American Market News. If you are accessing this story on another publication, it was illegally stolen and reposted in violation of US and international trademark and copyright law. The legal version of this story can be read at https://www.americanbankingnews.com/2018/01/07/taylor-morrison-home-tmhc-upgraded-at-wells-fargo-co.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).
