Barclays Analysts Give Taylor Morrison Home (TMHC) a $28.00 Price Target
Barclays set a $28.00 price target on Taylor Morrison Home (NYSE:TMHC) in a report released on Thursday morning, MarketBeat Ratings reports. The brokerage currently has an equal weight rating on the construction company’s stock.
A number of other equities analysts have also recently issued reports on the stock. Wedbush reissued a neutral rating and set a $27.00 price objective on shares of Taylor Morrison Home in a research report on Friday, January 12th. ValuEngine cut shares of Taylor Morrison Home from a strong-buy rating to a buy rating in a research report on Thursday, November 2nd. Citigroup raised shares of Taylor Morrison Home from a neutral rating to a buy rating and set a $30.00 price objective on the stock in a research report on Tuesday, January 2nd. BidaskClub lowered shares of Taylor Morrison Home from a buy rating to a hold rating in a report on Saturday, November 4th. Finally, B. Riley restated a neutral rating on shares of Taylor Morrison Home in a report on Thursday, November 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $28.22.
Taylor Morrison Home (TMHC) opened at $23.92 on Thursday. The stock has a market cap of $2,859.80, a PE ratio of 16.27, a PEG ratio of 0.78 and a beta of 1.44. The company has a current ratio of 6.85, a quick ratio of 0.81 and a debt-to-equity ratio of 0.63. Taylor Morrison Home has a 1 year low of $18.41 and a 1 year high of $28.42.
Taylor Morrison Home announced that its board has authorized a share buyback program on Wednesday, January 3rd that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the construction company to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
In related news, insider Group Holdings (Sbs) Advis Tpg sold 1,499,732 shares of the company’s stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $27.14, for a total value of $40,702,726.48. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 2.40% of the company’s stock.
Large investors have recently bought and sold shares of the business. Ameritas Investment Partners Inc. increased its stake in Taylor Morrison Home by 62.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,369 shares of the construction company’s stock valued at $129,000 after buying an additional 2,060 shares during the last quarter. Nordea Investment Management AB purchased a new stake in Taylor Morrison Home in the 2nd quarter valued at about $192,000. Dean Capital Investments Management LLC purchased a new stake in Taylor Morrison Home in the 4th quarter valued at about $218,000. Victory Capital Management Inc. increased its stake in Taylor Morrison Home by 37.3% in the 3rd quarter. Victory Capital Management Inc. now owns 10,197 shares of the construction company’s stock valued at $225,000 after buying an additional 2,768 shares during the last quarter. Finally, Optimum Investment Advisors purchased a new stake in Taylor Morrison Home in the 3rd quarter valued at about $225,000. Hedge funds and other institutional investors own 57.67% of the company’s stock.
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About Taylor Morrison Home
Taylor Morrison Home Corporation is a homebuilder, which designs, builds and sells single-family detached and attached homes. The Company is also a land developer, with a portfolio of lifestyle and master-planned communities. Its segments include East, which includes Atlanta, Charlotte, North Florida, Raleigh, Southwest Florida and Tampa; Central, which includes Austin, Dallas, and Houston (each of the Dallas and Houston markets include both a Taylor Morrison division and a Darling Homes division); West, which includes Bay Area, Chicago, Denver, Phoenix, Sacramento and Southern California, and Mortgage Operations, which includes Taylor Morrison Home Funding, LLC (TMHF) and Inspired Title Services, LLC (Inspired Title).
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