Taylor Morrison Home (TMHC) Upgraded at Citigroup

Citigroup upgraded shares of Taylor Morrison Home (NYSE:TMHC) from a neutral rating to a buy rating in a research note issued to investors on Tuesday, MarketBeat Ratings reports. They currently have $30.00 price objective on the construction company’s stock.

Several other equities analysts also recently commented on TMHC. BidaskClub upgraded shares of Taylor Morrison Home from a strong sell rating to a sell rating in a report on Tuesday, September 12th. ValuEngine downgraded shares of Taylor Morrison Home from a strong-buy rating to a buy rating in a report on Thursday, November 2nd. Finally, B. Riley reiterated a neutral rating on shares of Taylor Morrison Home in a report on Thursday, November 2nd. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $26.83.

Shares of Taylor Morrison Home (TMHC) traded down $0.13 on Tuesday, reaching $26.43. 7,179,700 shares of the company were exchanged, compared to its average volume of 3,674,333. The firm has a market capitalization of $3,190.00, a P/E ratio of 42.63, a price-to-earnings-growth ratio of 0.97 and a beta of 1.47. Taylor Morrison Home has a fifty-two week low of $18.26 and a fifty-two week high of $26.92. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.81 and a current ratio of 6.85.

Taylor Morrison Home (NYSE:TMHC) last released its quarterly earnings data on Wednesday, November 1st. The construction company reported $0.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.04. Taylor Morrison Home had a net margin of 2.41% and a return on equity of 4.18%. The firm had revenue of $908.00 million for the quarter, compared to the consensus estimate of $914.19 million. During the same period in the previous year, the company earned $0.49 earnings per share. The company’s quarterly revenue was up 6.4% on a year-over-year basis. analysts predict that Taylor Morrison Home will post 1.84 earnings per share for the current year.

Taylor Morrison Home declared that its board has approved a stock buyback plan on Wednesday, January 3rd that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the construction company to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

In related news, insider C. David Cone sold 35,000 shares of the company’s stock in a transaction dated 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 in the company, valued at $1,011,336.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.40% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp grew its stake in shares of Taylor Morrison Home by 13.0% in the third quarter. Bank of New York Mellon Corp now owns 356,953 shares of the construction company’s stock valued at $7,871,000 after acquiring an additional 40,989 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Taylor Morrison Home by 2,001.8% in the second quarter. American Century Companies Inc. now owns 419,121 shares of the construction company’s stock valued at $10,063,000 after acquiring an additional 399,180 shares in the last quarter. BlackRock Inc. lifted its position in Taylor Morrison Home by 51.5% during the second quarter. BlackRock Inc. now owns 6,585,230 shares of the construction company’s stock worth $158,111,000 after purchasing an additional 2,239,679 shares during the period. Capital Growth Management LP bought a new stake in Taylor Morrison Home during the second quarter worth about $1,801,000. Finally, Principal Financial Group Inc. bought a new stake in Taylor Morrison Home during the second quarter worth about $1,410,000. Institutional investors and hedge funds own 59.08% of the company’s stock.

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Taylor Morrison Home Company Profile

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).

Analyst Recommendations for Taylor Morrison Home (NYSE:TMHC)

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