Taylor Morrison Home (TMHC) Rating Lowered to Hold at Zacks Investment Research

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Taylor Morrison Home (NYSE:TMHC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Saturday.

According to Zacks, “Taylor Morrison Home Corporation is a homebuilder and land developer engaged in building single-family detached and attached homes for first-time buyers, move-up families to luxury and active adult customers. The company operates under the Taylor Morrison brand, Monarch brand and Darling Homes brand. It operates in Arizona, California, Colorado, Florida and Texas. Taylor Morrison Home Corporation is headquartered in Scottsdale, Arizona. “

TMHC has been the topic of several other reports. Wells Fargo & Co set a $24.00 price objective on Taylor Morrison Home and gave the company a “buy” rating in a research note on Thursday, November 1st. Barclays set a $18.00 price objective on Taylor Morrison Home and gave the company a “sell” rating in a research note on Thursday, November 1st. ValuEngine raised Taylor Morrison Home from a “strong sell” rating to a “sell” rating in a research note on Friday, December 7th. JMP Securities lowered Taylor Morrison Home from an “outperform” rating to a “market perform” rating in a research report on Monday, October 8th. Finally, Citigroup reissued a “buy” rating and set a $19.00 price target (down from $27.00) on shares of Taylor Morrison Home in a research report on Monday, October 29th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $21.94.

NYSE TMHC opened at $17.53 on Friday. The stock has a market capitalization of $2.08 billion, a PE ratio of 8.85, a PEG ratio of 0.69 and a beta of 1.18. Taylor Morrison Home has a 1-year low of $14.73 and a 1-year high of $28.25. The company has a current ratio of 7.58, a quick ratio of 1.07 and a debt-to-equity ratio of 0.62.

Taylor Morrison Home (NYSE:TMHC) last released its quarterly earnings data on Wednesday, October 31st. The construction company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.19. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.05 billion. Taylor Morrison Home had a return on equity of 11.21% and a net margin of 5.34%. The company’s revenue was up 14.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.45 EPS. Sell-side analysts expect that Taylor Morrison Home will post 2.22 EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in TMHC. Commonwealth Bank of Australia acquired a new position in Taylor Morrison Home during the 3rd quarter worth approximately $137,000. Rehmann Capital Advisory Group increased its holdings in Taylor Morrison Home by 1,703.9% during the 3rd quarter. Rehmann Capital Advisory Group now owns 5,574 shares of the construction company’s stock worth $309,000 after purchasing an additional 5,265 shares during the last quarter. SG Americas Securities LLC increased its holdings in Taylor Morrison Home by 57.5% during the 2nd quarter. SG Americas Securities LLC now owns 16,418 shares of the construction company’s stock worth $341,000 after purchasing an additional 5,995 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in Taylor Morrison Home by 82.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 21,204 shares of the construction company’s stock worth $382,000 after purchasing an additional 9,562 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in Taylor Morrison Home by 48.1% during the 3rd quarter. Victory Capital Management Inc. now owns 22,447 shares of the construction company’s stock worth $405,000 after purchasing an additional 7,290 shares during the last quarter. 93.62% of the stock is currently owned by hedge funds and other institutional investors.

About Taylor Morrison Home

Taylor Morrison Home Corporation operates as a public homebuilder in the United States. The company designs, builds, and sells single-family detached and attached homes; and develops lifestyle and master-planned communities. It operates under the Taylor Morrison and Darling Homes brand names in Arizona, California, Colorado, Florida, Georgia, Illinois, North Carolina and Texas.

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