Bank of America Cuts Taylor Wimpey (LON:TW) Price Target to GBX 90

Taylor Wimpey (LON:TW) had its target price lowered by Bank of America from GBX 110 to GBX 90 in a research report sent to investors on Monday morning,London Stock Exchange reports. The firm currently has a neutral rating on the homebuilder’s stock.

TW has been the subject of several other reports. Berenberg Bank decreased their price target on shares of Taylor Wimpey from GBX 128 to GBX 120 and set a “buy” rating for the company in a research note on Tuesday, March 10th. Royal Bank Of Canada restated an “outperform” rating and set a GBX 150 target price on shares of Taylor Wimpey in a report on Friday, January 16th. Jefferies Financial Group lowered their price target on shares of Taylor Wimpey from GBX 140 to GBX 132 and set a “buy” rating on the stock in a research note on Monday, January 19th. Citigroup reduced their price objective on shares of Taylor Wimpey from GBX 143 to GBX 137 and set a “buy” rating for the company in a research note on Friday, January 16th. Finally, Stifel Nicolaus restated a “buy” rating and issued a GBX 120 price objective on shares of Taylor Wimpey in a report on Thursday, March 5th. Five equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of GBX 121.

Taylor Wimpey Price Performance

Shares of Taylor Wimpey stock opened at GBX 88.56 on Monday. The company has a current ratio of 4.96, a quick ratio of 0.71 and a debt-to-equity ratio of 2.96. The company has a market capitalization of £3.18 billion, a price-to-earnings ratio of 12.92, a price-to-earnings-growth ratio of 2.04 and a beta of 1.35. The firm has a 50 day moving average price of GBX 103.70 and a 200-day moving average price of GBX 103.60.

Taylor Wimpey (LON:TW) last posted its quarterly earnings data on Thursday, March 5th. The homebuilder reported GBX 8 earnings per share (EPS) for the quarter. Taylor Wimpey had a return on equity of 2.40% and a net margin of 2.61%. On average, equities analysts expect that Taylor Wimpey will post 9.8339265 EPS for the current year.

Taylor Wimpey declared that its board has authorized a stock repurchase plan on Thursday, March 5th that permits the company to repurchase 0 shares. This repurchase authorization permits the homebuilder to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other news, insider Chris Carney sold 329,993 shares of Taylor Wimpey stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of GBX 101, for a total value of £333,292.93. Also, insider Jennie Daly sold 490,379 shares of the business’s stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of GBX 101, for a total transaction of £495,282.79. Over the last 90 days, insiders have purchased 230,501 shares of company stock worth $19,838,458. 0.87% of the stock is owned by corporate insiders.

About Taylor Wimpey

Taylor Wimpey plc operates as a homebuilder in the United Kingdom and Spain. It builds and delivers various homes and communities. Taylor Wimpey plc was incorporated in 1935 and is based in High Wycombe, the United Kingdom.