Taylor Morrison Home Corp’s (TMHC) “Neutral” Rating Reaffirmed at B. Riley
Several other equities research analysts also recently weighed in on TMHC. Zacks Investment Research downgraded shares of Taylor Morrison Home Corp from a buy rating to a hold rating in a report on Saturday, August 5th. BidaskClub raised shares of Taylor Morrison Home Corp from a sell rating to a hold rating in a report on Thursday, September 28th. Deutsche Bank AG upped their price objective on shares of Taylor Morrison Home Corp from $25.00 to $27.00 and gave the stock a buy rating in a report on Monday, August 7th. Finally, ValuEngine downgraded shares of Taylor Morrison Home Corp from a strong-buy rating to a buy rating in a report on Thursday. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $24.00.
Taylor Morrison Home Corp (TMHC) traded down $0.90 during trading on Thursday, hitting $22.96. 1,746,093 shares of the stock traded hands, compared to its average volume of 1,010,000. Taylor Morrison Home Corp has a fifty-two week low of $17.39 and a fifty-two week high of $24.79.
Taylor Morrison Home Corp (NASDAQ:TMHC) last released its quarterly earnings results on Wednesday, November 1st. The construction company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.41 by $0.04. The business had revenue of $908.00 million during the quarter, compared to analyst estimates of $914.19 million. Taylor Morrison Home Corp had a net margin of 6.16% and a return on equity of 9.57%. The company’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.49 earnings per share.
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Taylor Morrison Home Corp announced that its board has authorized a stock repurchase program on Monday, September 18th that authorizes the company to repurchase $43.60 million in shares. This repurchase authorization authorizes the construction company to reacquire up to 2.9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
In related news, insider C. David Cone sold 35,000 shares of the company’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $23.79, for a total value of $832,650.00. Following the completion of the sale, the insider now owns 42,511 shares of the company’s stock, valued at $1,011,336.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. UBS Group AG lifted its holdings in Taylor Morrison Home Corp by 4.7% in the 1st quarter. UBS Group AG now owns 6,909 shares of the construction company’s stock valued at $147,000 after acquiring an additional 307 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Taylor Morrison Home Corp by 20.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,409 shares of the construction company’s stock valued at $154,000 after acquiring an additional 1,110 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Taylor Morrison Home Corp by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 7,429 shares of the construction company’s stock valued at $178,000 after acquiring an additional 1,114 shares during the last quarter. Paloma Partners Management Co lifted its holdings in Taylor Morrison Home Corp by 10.5% in the 1st quarter. Paloma Partners Management Co now owns 11,808 shares of the construction company’s stock valued at $251,000 after acquiring an additional 1,126 shares during the last quarter. Finally, Parametric Portfolio Associates LLC lifted its holdings in Taylor Morrison Home Corp by 11.6% in the 1st quarter. Parametric Portfolio Associates LLC now owns 16,219 shares of the construction company’s stock valued at $346,000 after acquiring an additional 1,692 shares during the last quarter.
About Taylor Morrison Home Corp
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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