Investment analysts at Wells Fargo & Company assumed coverage on shares of Taylor Morrison Home (NYSE:TMHC) in a report released on Wednesday, Price Targets.com reports. The firm set an “equal weight” rating and a $34.00 price target on the construction company’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 8.83% from the company’s current price.
Other equities analysts also recently issued reports about the company. Royal Bank of Canada downgraded Taylor Morrison Home from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from $31.00 to $27.00 in a report on Friday, January 8th. Zacks Investment Research upgraded Taylor Morrison Home from a “hold” rating to a “buy” rating and set a $36.00 price target for the company in a report on Wednesday. B. Riley raised their price target on Taylor Morrison Home from $36.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, February 11th. KeyCorp began coverage on Taylor Morrison Home in a report on Monday, March 1st. They set a “sector weight” rating for the company. Finally, Janney Montgomery Scott began coverage on Taylor Morrison Home in a report on Thursday, January 21st. They issued a “neutral” rating and a $30.00 price objective for the company. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $36.10.
TMHC opened at $31.24 on Wednesday. The stock has a fifty day simple moving average of $30.34 and a two-hundred day simple moving average of $27.30. The company has a current ratio of 7.19, a quick ratio of 0.99 and a debt-to-equity ratio of 0.90. The company has a market cap of $4.02 billion, a price-to-earnings ratio of 19.28 and a beta of 1.81. Taylor Morrison Home has a 12-month low of $10.17 and a 12-month high of $32.68.
In related news, CEO Sheryl Palmer sold 95,127 shares of the business’s stock in a transaction that occurred on Monday, April 5th. The stock was sold at an average price of $32.15, for a total value of $3,058,333.05. Following the transaction, the chief executive officer now directly owns 306,949 shares of the company’s stock, valued at approximately $9,868,410.35. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director William H. Lyon sold 12,600 shares of the business’s stock in a transaction that occurred on Friday, March 26th. The stock was sold at an average price of $31.01, for a total value of $390,726.00. Following the completion of the transaction, the director now directly owns 196,570 shares in the company, valued at $6,095,635.70. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 201,727 shares of company stock worth $6,403,096. Insiders own 1.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. lifted its holdings in Taylor Morrison Home by 1.0% in the 4th quarter. BlackRock Inc. now owns 18,112,280 shares of the construction company’s stock worth $464,582,000 after purchasing an additional 175,083 shares in the last quarter. Alliancebernstein L.P. increased its stake in Taylor Morrison Home by 0.4% in the 4th quarter. Alliancebernstein L.P. now owns 3,693,444 shares of the construction company’s stock worth $94,737,000 after acquiring an additional 13,513 shares during the last quarter. Norges Bank bought a new stake in Taylor Morrison Home in the 4th quarter worth approximately $47,835,000. Nuveen Asset Management LLC increased its stake in Taylor Morrison Home by 37.8% in the 4th quarter. Nuveen Asset Management LLC now owns 1,406,431 shares of the construction company’s stock worth $36,076,000 after acquiring an additional 385,787 shares during the last quarter. Finally, Federated Hermes Inc. increased its position in shares of Taylor Morrison Home by 3,305.9% during the 4th quarter. Federated Hermes Inc. now owns 1,025,303 shares of the construction company’s stock valued at $26,299,000 after purchasing an additional 995,199 shares during the last quarter. 92.49% of the stock is currently owned by institutional investors.
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 also develops and constructs multi-use properties consisting of commercial space, retail, and multi-family properties; offers title insurance and closing settlement services, as well as financial services.
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