ValuEngine upgraded shares of Taylor Morrison Home (NYSE:TMHC) from a buy rating to a strong-buy rating in a research note released on Wednesday morning.
A number of other research firms have also weighed in on TMHC. Wedbush reiterated a neutral rating and set a $27.00 target price on shares of Taylor Morrison Home in a report on Friday, January 12th. Barclays set a $27.00 target price on shares of Taylor Morrison Home and gave the stock a hold rating in a report on Monday, January 8th. Susquehanna Bancshares upgraded shares of Taylor Morrison Home from a neutral rating to a positive rating in a report on Thursday, January 4th. UBS Group upgraded shares of Taylor Morrison Home from a neutral rating to a positive rating in a report on Thursday, January 4th. Finally, Zacks Investment Research lowered shares of Taylor Morrison Home from a hold rating to a sell rating in a report on Friday, January 5th. Five equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Taylor Morrison Home currently has a consensus rating of Buy and an average target price of $28.33.
Shares of Taylor Morrison Home (TMHC) opened at $23.86 on Wednesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.55 and a current ratio of 7.73. Taylor Morrison Home has a 1 year low of $19.68 and a 1 year high of $28.42. The stock has a market cap of $2,820.00, a PE ratio of 95.44, a price-to-earnings-growth ratio of 0.75 and a beta of 1.49.
Taylor Morrison Home declared that its board has initiated a share buyback program on Wednesday, January 3rd that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the construction company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.
In related news, insider Joseph Terracciano sold 5,788 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $23.97, for a total value of $138,738.36. Following the completion of the transaction, the insider now directly owns 4,168 shares of the company’s stock, valued at $99,906.96. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Group Holdings (Sbs) Advis Tpg sold 1,499,732 shares of the stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $27.14, for a total transaction of $40,702,726.48. The disclosure for this sale can be found here. 2.40% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Donald Smith & CO. Inc. raised its stake in Taylor Morrison Home by 94.7% in the fourth quarter. Donald Smith & CO. Inc. now owns 6,502,696 shares of the construction company’s stock worth $159,121,000 after buying an additional 3,162,765 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Taylor Morrison Home by 31.1% in the third quarter. Dimensional Fund Advisors LP now owns 4,591,375 shares of the construction company’s stock worth $101,239,000 after buying an additional 1,089,798 shares in the last quarter. Millennium Management LLC raised its stake in Taylor Morrison Home by 304.9% in the fourth quarter. Millennium Management LLC now owns 3,638,831 shares of the construction company’s stock worth $89,042,000 after buying an additional 2,740,201 shares in the last quarter. Greenhaven Associates Inc. raised its stake in Taylor Morrison Home by 6.7% in the fourth quarter. Greenhaven Associates Inc. now owns 2,695,488 shares of the construction company’s stock worth $65,959,000 after buying an additional 169,244 shares in the last quarter. Finally, NWQ Investment Management Company LLC raised its stake in Taylor Morrison Home by 2.4% in the third quarter. NWQ Investment Management Company LLC now owns 2,229,932 shares of the construction company’s stock worth $49,170,000 after buying an additional 52,934 shares in the last quarter. 67.66% of the stock is owned by institutional investors.
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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).
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