Taylor Morrison Home (NYSE:TMHC) Price Target Cut to $90.00 by Analysts at JPMorgan Chase & Co.

Taylor Morrison Home (NYSE:TMHC) had its price target decreased by JPMorgan Chase & Co. from $101.00 to $90.00 in a research note released on Friday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the construction company’s stock.

A number of other research firms have also recently issued reports on TMHC. Royal Bank of Canada lifted their price target on shares of Taylor Morrison Home from $74.00 to $77.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Raymond James reiterated an “outperform” rating and issued a $84.00 target price (up previously from $81.00) on shares of Taylor Morrison Home in a research report on Tuesday, October 29th. Wedbush raised shares of Taylor Morrison Home from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $65.00 to $85.00 in a research note on Friday, October 25th. StockNews.com raised shares of Taylor Morrison Home from a “hold” rating to a “buy” rating in a research note on Thursday, October 24th. Finally, Barclays upgraded Taylor Morrison Home from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $75.00 to $90.00 in a research note on Wednesday, December 11th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Taylor Morrison Home has a consensus rating of “Moderate Buy” and a consensus price target of $85.33.

Taylor Morrison Home Trading Down 3.6 %

TMHC stock opened at $64.72 on Friday. Taylor Morrison Home has a 52-week low of $49.98 and a 52-week high of $75.49. The company has a quick ratio of 0.69, a current ratio of 6.24 and a debt-to-equity ratio of 0.37. The firm has a market cap of $6.70 billion, a P/E ratio of 8.56 and a beta of 1.97. The company’s 50-day simple moving average is $69.82 and its 200-day simple moving average is $64.87.

Taylor Morrison Home (NYSE:TMHC) last issued its quarterly earnings results on Wednesday, October 23rd. The construction company reported $2.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.06 by $0.31. Taylor Morrison Home had a return on equity of 15.91% and a net margin of 10.39%. The company had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter in the prior year, the business posted $1.62 earnings per share. Taylor Morrison Home’s revenue for the quarter was up 26.6% on a year-over-year basis. As a group, equities analysts forecast that Taylor Morrison Home will post 8.44 EPS for the current fiscal year.

Insider Transactions at Taylor Morrison Home

In other Taylor Morrison Home news, Director William H. Lyon sold 24,284 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $74.46, for a total value of $1,808,186.64. Following the completion of the sale, the director now directly owns 2,045,316 shares in the company, valued at $152,294,229.36. This represents a 1.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Darrell Sherman sold 26,757 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $70.00, for a total value of $1,872,990.00. Following the completion of the sale, the executive vice president now directly owns 109,217 shares of the company’s stock, valued at $7,645,190. This trade represents a 19.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 128,621 shares of company stock valued at $9,164,869. Corporate insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On Taylor Morrison Home

Institutional investors and hedge funds have recently bought and sold shares of the company. MQS Management LLC purchased a new position in shares of Taylor Morrison Home during the 3rd quarter worth $768,000. Intech Investment Management LLC purchased a new position in Taylor Morrison Home during the third quarter worth about $1,899,000. Creative Planning boosted its stake in Taylor Morrison Home by 46.3% during the third quarter. Creative Planning now owns 29,723 shares of the construction company’s stock worth $2,088,000 after buying an additional 9,408 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Taylor Morrison Home by 18.5% during the second quarter. Allspring Global Investments Holdings LLC now owns 786,249 shares of the construction company’s stock valued at $43,590,000 after acquiring an additional 122,864 shares during the last quarter. Finally, Asset Management One Co. Ltd. purchased a new stake in shares of Taylor Morrison Home in the 3rd quarter valued at approximately $947,000. 95.16% of the stock is currently 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.