Taylor Morrison Home (NYSE:TMHC) Coverage Initiated at Raymond James

Research analysts at Raymond James started coverage on shares of Taylor Morrison Home (NYSE:TMHC) in a research report issued to clients and investors on Wednesday, MarketBeat Ratings reports. The firm set an “outperform” rating and a $75.00 price target on the construction company’s stock. Raymond James’ price objective would suggest a potential upside of 14.47% from the company’s previous close.

Several other research firms have also recently issued reports on TMHC. StockNews.com cut shares of Taylor Morrison Home from a “buy” rating to a “hold” rating in a research note on Friday, July 19th. Royal Bank of Canada increased their target price on shares of Taylor Morrison Home from $61.00 to $63.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. Barclays reduced their price target on Taylor Morrison Home from $65.00 to $62.00 and set an “equal weight” rating on the stock in a report on Friday, July 12th. Zelman & Associates raised shares of Taylor Morrison Home from an “underperform” rating to a “neutral” rating in a research note on Friday, April 12th. Finally, Wedbush restated an “outperform” rating and set a $61.00 target price on shares of Taylor Morrison Home in a report on Thursday, May 30th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $66.50.

Taylor Morrison Home Price Performance

Shares of NYSE:TMHC opened at $65.52 on Wednesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.91 and a current ratio of 6.16. The company has a market capitalization of $6.93 billion, a P/E ratio of 9.37 and a beta of 1.95. Taylor Morrison Home has a fifty-two week low of $37.23 and a fifty-two week high of $67.66. The company’s 50-day moving average is $57.77 and its 200 day moving average is $56.75.

Taylor Morrison Home (NYSE:TMHC) last announced its quarterly earnings data on Tuesday, April 30th. The construction company reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.18. Taylor Morrison Home had a return on equity of 15.75% and a net margin of 10.30%. The company had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same quarter last year, the firm posted $1.74 EPS. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, equities research analysts forecast that Taylor Morrison Home will post 7.62 earnings per share for the current year.

Insiders Place Their Bets

In other Taylor Morrison Home news, Director William H. Lyon sold 30,000 shares of Taylor Morrison Home stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $66.31, for a total value of $1,989,300.00. Following the completion of the sale, the director now owns 2,225,316 shares of the company’s stock, valued at approximately $147,560,703.96. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director William H. Lyon sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $66.31, for a total transaction of $1,989,300.00. Following the completion of the sale, the director now directly owns 2,225,316 shares in the company, valued at $147,560,703.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sheryl Palmer sold 100,000 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $61.70, for a total value of $6,170,000.00. Following the completion of the sale, the chief executive officer now owns 19,211 shares of the company’s stock, valued at $1,185,318.70. The disclosure for this sale can be found here. In the last quarter, insiders sold 160,000 shares of company stock valued at $10,089,200. Corporate insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Highland Capital Management LLC lifted its position in shares of Taylor Morrison Home by 14.3% in the second quarter. Highland Capital Management LLC now owns 3,819 shares of the construction company’s stock valued at $212,000 after acquiring an additional 478 shares in the last quarter. SummerHaven Investment Management LLC raised its stake in Taylor Morrison Home by 1.8% during the 2nd quarter. SummerHaven Investment Management LLC now owns 14,831 shares of the construction company’s stock valued at $822,000 after purchasing an additional 267 shares during the period. Fifth Third Wealth Advisors LLC purchased a new position in Taylor Morrison Home in the 2nd quarter worth approximately $200,000. Summit Global Investments bought a new position in Taylor Morrison Home in the 2nd quarter worth approximately $1,287,000. Finally, Raymond James & Associates grew its holdings in Taylor Morrison Home by 10.1% during the 2nd quarter. Raymond James & Associates now owns 57,491 shares of the construction company’s stock valued at $3,187,000 after buying an additional 5,296 shares in the last quarter. Institutional investors 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.