Royal Bank of Canada Boosts Taylor Morrison Home (NYSE:TMHC) Price Target to $77.00

Taylor Morrison Home (NYSE:TMHC) had its target price raised by research analysts at Royal Bank of Canada from $74.00 to $77.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the construction company’s stock. Royal Bank of Canada’s price target suggests a potential upside of 12.64% from the stock’s previous close.

TMHC has been the topic of a number of other research reports. Barclays raised their price target on Taylor Morrison Home from $72.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Thursday. Zelman & Associates upgraded Taylor Morrison Home from a “neutral” rating to an “outperform” rating in a research note on Monday, August 12th. BTIG Research upgraded Taylor Morrison Home from a “neutral” rating to a “buy” rating and set a $78.00 price target on the stock in a research note on Monday, August 19th. StockNews.com downgraded Taylor Morrison Home from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Finally, Raymond James started coverage on Taylor Morrison Home in a research report on Wednesday, July 24th. They set an “outperform” rating and a $75.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $71.17.

Taylor Morrison Home Stock Up 1.7 %

Shares of TMHC traded up $1.16 during mid-day trading on Thursday, reaching $68.36. The company’s stock had a trading volume of 535,744 shares, compared to its average volume of 787,727. Taylor Morrison Home has a 12-month low of $37.23 and a 12-month high of $71.95. The stock has a market cap of $7.13 billion, a PE ratio of 10.19 and a beta of 1.96. The company has a debt-to-equity ratio of 0.39, a current ratio of 6.01 and a quick ratio of 0.67. The company’s 50 day moving average is $67.31 and its 200 day moving average is $61.53.

Taylor Morrison Home (NYSE:TMHC) last released its quarterly earnings data on Wednesday, October 23rd. The construction company reported $2.37 EPS for the quarter, beating analysts’ consensus estimates of $2.06 by $0.31. The business had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $1.96 billion. Taylor Morrison Home had a return on equity of 14.99% and a net margin of 9.92%. The business’s revenue for the quarter was up 26.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.62 EPS. Equities analysts anticipate that Taylor Morrison Home will post 8.15 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director William H. Lyon sold 28,259 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $68.25, for a total value of $1,928,676.75. Following the completion of the sale, the director now directly owns 2,197,057 shares of the company’s stock, valued at $149,949,140.25. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director William H. Lyon sold 28,259 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $68.25, for a total value of $1,928,676.75. Following the completion of the sale, the director now directly owns 2,197,057 shares of the company’s stock, valued at $149,949,140.25. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William H. Lyon sold 1,741 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $68.03, for a total value of $118,440.23. Following the completion of the sale, the director now directly owns 2,195,316 shares of the company’s stock, valued at $149,347,347.48. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,072 shares of company stock valued at $2,052,157. 3.50% of the stock is owned by company insiders.

Institutional Trading of Taylor Morrison Home

Several hedge funds have recently modified their holdings of the business. Highland Capital Management LLC raised its holdings in Taylor Morrison Home by 11.3% during the third quarter. Highland Capital Management LLC now owns 4,250 shares of the construction company’s stock worth $299,000 after purchasing an additional 431 shares during the last quarter. Ballentine Partners LLC acquired a new position in Taylor Morrison Home during the third quarter worth $202,000. Tectonic Advisors LLC raised its holdings in Taylor Morrison Home by 3.3% during the third quarter. Tectonic Advisors LLC now owns 23,575 shares of the construction company’s stock worth $1,656,000 after purchasing an additional 746 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in Taylor Morrison Home by 271.0% during the third quarter. Assenagon Asset Management S.A. now owns 896,032 shares of the construction company’s stock worth $62,955,000 after purchasing an additional 654,541 shares during the last quarter. Finally, International Assets Investment Management LLC raised its holdings in Taylor Morrison Home by 6,926.2% during the third quarter. International Assets Investment Management LLC now owns 10,188 shares of the construction company’s stock worth $716,000 after purchasing an additional 10,043 shares during the last quarter. 95.16% of the stock is owned by institutional investors and hedge funds.

About Taylor Morrison Home

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 develops and constructs multi-use properties consisting of commercial space, retail, and multi-family properties under the Urban Form brand name.