JPMorgan Chase & Co. Cuts Taylor Morrison Home (NYSE:TMHC) Price Target to $82.00

Taylor Morrison Home (NYSE:TMHC) had its price objective dropped by JPMorgan Chase & Co. from $90.00 to $82.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the construction company’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 30.98% from the stock’s previous close.

TMHC has been the subject of a number of other reports. Wolfe Research raised shares of Taylor Morrison Home from a “peer perform” rating to an “outperform” rating and set a $76.00 price objective for the company in a research note on Wednesday, January 8th. Raymond James reiterated an “outperform” rating and set a $84.00 price objective (up previously from $81.00) on shares of Taylor Morrison Home in a research report on Tuesday, October 29th. BTIG Research raised their price target on shares of Taylor Morrison Home from $78.00 to $86.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Barclays raised shares of Taylor Morrison Home from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $75.00 to $90.00 in a research report on Wednesday, December 11th. Finally, Wedbush upgraded shares of Taylor Morrison Home from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $65.00 to $85.00 in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Taylor Morrison Home presently has an average rating of “Moderate Buy” and a consensus target price of $82.43.

Taylor Morrison Home Price Performance

Shares of TMHC traded down $1.58 during mid-day trading on Tuesday, hitting $62.60. The company’s stock had a trading volume of 81,506 shares, compared to its average volume of 972,570. The firm has a 50-day simple moving average of $63.43 and a 200 day simple moving average of $66.32. Taylor Morrison Home has a 1-year low of $53.17 and a 1-year high of $75.49. The firm has a market capitalization of $6.48 billion, a P/E ratio of 8.28 and a beta of 2.03. The company has a current ratio of 6.24, a quick ratio of 0.69 and a debt-to-equity ratio of 0.37.

Taylor Morrison Home (NYSE:TMHC) last issued its earnings results on Wednesday, February 12th. The construction company reported $2.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.40 by $0.24. Taylor Morrison Home had a net margin of 10.39% and a return on equity of 15.91%. Analysts predict that Taylor Morrison Home will post 8.44 EPS for the current fiscal year.

Insider Transactions at Taylor Morrison Home

In related news, Director William H. Lyon sold 24,284 shares of Taylor Morrison Home stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $74.46, for a total transaction of $1,808,186.64. Following the transaction, the director now directly owns 2,045,316 shares of the company’s stock, valued at $152,294,229.36. The trade was a 1.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.50% of the company’s stock.

Institutional Trading of Taylor Morrison Home

Several institutional investors and hedge funds have recently bought and sold shares of TMHC. V Square Quantitative Management LLC acquired a new stake in Taylor Morrison Home during the 3rd quarter worth about $29,000. Morse Asset Management Inc purchased a new stake in Taylor Morrison Home in the 4th quarter worth approximately $29,000. Harbor Capital Advisors Inc. purchased a new stake in Taylor Morrison Home in the 3rd quarter worth approximately $34,000. Quarry LP boosted its stake in shares of Taylor Morrison Home by 202.1% during the 4th quarter. Quarry LP now owns 704 shares of the construction company’s stock valued at $43,000 after buying an additional 471 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of Taylor Morrison Home by 43.2% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 806 shares of the construction company’s stock valued at $49,000 after acquiring an additional 243 shares in the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

Taylor Morrison Home Company Profile

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.