Taylor Morrison Home (NYSE:TMHC) Upgraded to “Overweight” at Barclays

Taylor Morrison Home (NYSE:TMHC) was upgraded by Barclays from an “equal weight” rating to an “overweight” rating in a research note issued on Wednesday, MarketBeat reports. The firm presently has a $90.00 price target on the construction company’s stock, up from their prior price target of $75.00. Barclays‘s price objective would suggest a potential upside of 33.99% from the stock’s current price.

A number of other research firms have also recently commented on TMHC. Royal Bank of Canada lifted their target price on Taylor Morrison Home from $74.00 to $77.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. StockNews.com raised Taylor Morrison Home from a “hold” rating to a “buy” rating in a report on Thursday, October 24th. Wedbush raised shares of Taylor Morrison Home from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $65.00 to $85.00 in a report on Friday, October 25th. Raymond James reiterated an “outperform” rating and set a $84.00 price target (up previously from $81.00) on shares of Taylor Morrison Home in a research note on Tuesday, October 29th. Finally, BTIG Research lifted their price objective on shares of Taylor Morrison Home from $78.00 to $86.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $84.40.

Taylor Morrison Home Stock Performance

Shares of TMHC opened at $67.17 on Wednesday. The company has a market capitalization of $6.95 billion, a price-to-earnings ratio of 8.88 and a beta of 1.97. Taylor Morrison Home has a 52-week low of $46.73 and a 52-week high of $75.49. The company has a quick ratio of 0.69, a current ratio of 6.24 and a debt-to-equity ratio of 0.37. The stock has a 50 day moving average price of $69.88 and a 200 day moving average price of $64.76.

Taylor Morrison Home (NYSE:TMHC) last issued its earnings results on Wednesday, October 23rd. The construction company reported $2.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.31. Taylor Morrison Home had a net margin of 10.39% and a return on equity of 15.91%. The business had revenue of $2.12 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same quarter in the prior year, the business posted $1.62 EPS. The company’s revenue for the quarter was up 26.6% on a year-over-year basis. Research analysts predict that Taylor Morrison Home will post 8.44 EPS for the current fiscal year.

Insider Transactions at Taylor Morrison Home

In other Taylor Morrison Home news, EVP Darrell Sherman sold 68,433 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $70.50, for a total transaction of $4,824,526.50. Following the sale, the executive vice president now directly owns 109,217 shares in the company, valued at approximately $7,699,798.50. The trade was a 38.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William H. Lyon sold 24,284 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $74.46, for a total transaction of $1,808,186.64. Following the completion of the sale, the director now owns 2,045,316 shares of the company’s stock, valued at $152,294,229.36. This trade represents a 1.17 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 128,621 shares of company stock worth $9,164,869. Company insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On Taylor Morrison Home

Several institutional investors have recently modified their holdings of TMHC. MQS Management LLC acquired a new stake in Taylor Morrison Home in the third quarter valued at $768,000. Intech Investment Management LLC acquired a new stake in Taylor Morrison Home in the 3rd quarter valued at about $1,899,000. Creative Planning raised its position in Taylor Morrison Home by 46.3% during the third quarter. Creative Planning now owns 29,723 shares of the construction company’s stock worth $2,088,000 after acquiring an additional 9,408 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Taylor Morrison Home by 18.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 786,249 shares of the construction company’s stock valued at $43,590,000 after purchasing an additional 122,864 shares in the last quarter. Finally, Asset Management One Co. Ltd. acquired a new stake in shares of Taylor Morrison Home in the third quarter valued at approximately $947,000. Hedge funds and other institutional investors own 95.16% of the company’s stock.

About Taylor Morrison Home

Taylor Morrison Home Corporation, together with its subsidiaries, operates as a public homebuilder in the United States. The company designs, builds, and sells single and multi-family detached and attached homes; and develops lifestyle and master-planned communities. It develops and constructs multi-use properties consisting of commercial space, retail, and multi-family properties under the Urban Form brand name.