Taylor Morrison Home (TMHC) Upgraded by Zacks Investment Research to Hold

Zacks Investment Research upgraded shares of Taylor Morrison Home (NYSE:TMHC) from a sell rating to a hold rating in a research note released on Tuesday morning.

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. “

Several other equities research analysts have also issued reports on TMHC. ValuEngine lowered shares of Taylor Morrison Home from a sell rating to a strong sell rating in a report on Saturday, July 28th. Barclays set a $22.00 target price on shares of Taylor Morrison Home and gave the stock a hold rating in a report on Wednesday, August 1st. JMP Securities reduced their target price on shares of Taylor Morrison Home from $28.00 to $24.00 and set a buy rating for the company in a report on Thursday, August 2nd. Susquehanna Bancshares reduced their target price on shares of Taylor Morrison Home from $34.00 to $30.00 and set a positive rating for the company in a report on Thursday, August 2nd. Finally, TheStreet lowered shares of Taylor Morrison Home from a b- rating to a c+ rating in a report on Monday, October 15th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $22.78.

Taylor Morrison Home stock opened at $16.04 on Tuesday. The company has a market capitalization of $1.84 billion, a P/E ratio of 6.47, a PEG ratio of 0.78 and a beta of 1.27. Taylor Morrison Home has a 12-month low of $14.73 and a 12-month high of $28.42. The company has a quick ratio of 1.07, a current ratio of 7.58 and a debt-to-equity ratio of 0.62.

Taylor Morrison Home (NYSE:TMHC) last released its earnings results on Wednesday, October 31st. The construction company reported $0.83 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.19. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.05 billion. Taylor Morrison Home had a net margin of 5.34% and a return on equity of 11.21%. The firm’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.45 EPS. Analysts forecast that Taylor Morrison Home will post 2.17 EPS for the current year.

A number of hedge funds have recently bought and sold shares of the business. BBT Capital Management LLC bought a new position in Taylor Morrison Home in the 3rd quarter worth approximately $830,000. Brandes Investment Partners LP boosted its stake in Taylor Morrison Home by 23.2% in the 3rd quarter. Brandes Investment Partners LP now owns 1,290,037 shares of the construction company’s stock worth $23,272,000 after purchasing an additional 242,564 shares during the period. Martingale Asset Management L P boosted its stake in Taylor Morrison Home by 226.4% in the 3rd quarter. Martingale Asset Management L P now owns 55,684 shares of the construction company’s stock worth $1,005,000 after purchasing an additional 38,623 shares during the period. Alliancebernstein L.P. boosted its stake in Taylor Morrison Home by 13.1% in the 3rd quarter. Alliancebernstein L.P. now owns 4,140,192 shares of the construction company’s stock worth $74,689,000 after purchasing an additional 480,750 shares during the period. Finally, Commonwealth Bank of Australia bought a new position in Taylor Morrison Home in the 3rd quarter worth approximately $137,000. Institutional investors and hedge funds own 99.02% of the company’s stock.

Taylor Morrison Home Company Profile

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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