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

Taylor Morrison Home (NYSE:TMHC) had its price target increased by Royal Bank of Canada from $74.00 to $77.00 in a report published on Thursday morning, Benzinga reports. The brokerage currently has an outperform rating on the construction company’s stock.

Other equities analysts have also issued research reports about the stock. Wedbush reaffirmed a “neutral” rating and set a $65.00 price target on shares of Taylor Morrison Home in a research report on Wednesday, October 23rd. BTIG Research upgraded Taylor Morrison Home from a “neutral” rating to a “buy” rating and set a $78.00 price objective for the company in a report on Monday, August 19th. StockNews.com cut Taylor Morrison Home from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Raymond James assumed coverage on Taylor Morrison Home in a research report on Wednesday, July 24th. They set an “outperform” rating and a $75.00 price target for the company. Finally, Zelman & Associates upgraded Taylor Morrison Home from a “neutral” rating to an “outperform” rating in a report on Monday, August 12th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $75.83.

Taylor Morrison Home Price Performance

Shares of NYSE:TMHC opened at $68.52 on Thursday. The company has a market cap of $7.25 billion, a P/E ratio of 9.80 and a beta of 1.96. The business has a fifty day simple moving average of $67.58 and a 200-day simple moving average of $61.66. Taylor Morrison Home has a 52 week low of $37.23 and a 52 week high of $71.95. The company has a quick ratio of 0.67, a current ratio of 6.01 and a debt-to-equity ratio of 0.39.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Forum Financial Management LP grew its stake in shares of Taylor Morrison Home by 3.9% in the second quarter. Forum Financial Management LP now owns 4,430 shares of the construction company’s stock valued at $246,000 after buying an additional 165 shares in the last quarter. Resonant Capital Advisors LLC grew its position in Taylor Morrison Home by 2.1% in the third quarter. Resonant Capital Advisors LLC now owns 9,103 shares of the construction company’s stock valued at $640,000 after acquiring an additional 191 shares in the last quarter. TCW Group Inc. raised its stake in shares of Taylor Morrison Home by 0.4% during the second quarter. TCW Group Inc. now owns 52,193 shares of the construction company’s stock valued at $2,894,000 after purchasing an additional 213 shares during the period. Arizona State Retirement System raised its stake in shares of Taylor Morrison Home by 0.9% during the second quarter. Arizona State Retirement System now owns 29,795 shares of the construction company’s stock valued at $1,652,000 after purchasing an additional 266 shares during the period. Finally, SummerHaven Investment Management LLC lifted its position in shares of Taylor Morrison Home by 1.8% during the second quarter. SummerHaven Investment Management LLC now owns 14,831 shares of the construction company’s stock worth $822,000 after purchasing an additional 267 shares in the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

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.