B. Riley Boosts Taylor Morrison Home (TMHC) Price Target to $29.00
Taylor Morrison Home (NYSE:TMHC) had its target price hoisted by B. Riley from $28.00 to $29.00 in a research report released on Thursday. They currently have a neutral rating on the construction company’s stock. B. Riley also issued estimates for Taylor Morrison Home’s Q1 2018 earnings at $0.39 EPS, Q2 2018 earnings at $0.60 EPS, Q4 2018 earnings at $0.94 EPS, FY2018 earnings at $2.63 EPS and FY2019 earnings at $2.88 EPS.
Several other brokerages also recently issued reports on TMHC. BidaskClub downgraded shares of Taylor Morrison Home from a buy rating to a hold rating in a report on Saturday, November 4th. ValuEngine downgraded shares of Taylor Morrison Home from a strong-buy rating to a buy rating in a report on Thursday, November 2nd. Wells Fargo & Co raised shares of Taylor Morrison Home from a market perform rating to an outperform rating and set a $32.00 price target for the company in a report on Friday, January 5th. JMP Securities raised shares of Taylor Morrison Home from a market perform rating to an outperform rating and set a $31.00 price target for the company in a report on Thursday. Finally, UBS Group raised shares of Taylor Morrison Home from a neutral rating to a positive rating in a report on Thursday, January 4th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $28.22.
Taylor Morrison Home (TMHC) opened at $23.92 on Thursday. Taylor Morrison Home has a 1-year low of $18.41 and a 1-year high of $28.42. The stock has a market cap of $2,859.80, a price-to-earnings 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 announced that its Board of Directors has authorized a share repurchase plan on Wednesday, January 3rd that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the construction company to purchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.
In related news, insider Group Holdings (Sbs) Advis Tpg sold 1,499,732 shares of Taylor Morrison Home stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $27.14, for a total transaction of $40,702,726.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.40% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Ameritas Investment Partners Inc. raised its stake in shares of Taylor Morrison Home by 62.3% during the second quarter. Ameritas Investment Partners Inc. now owns 5,369 shares of the construction company’s stock valued at $129,000 after purchasing an additional 2,060 shares in the last quarter. Nordea Investment Management AB bought a new stake in shares of Taylor Morrison Home during the second quarter valued at about $192,000. Dean Capital Investments Management LLC bought a new stake in shares of Taylor Morrison Home during the fourth quarter valued at about $218,000. Victory Capital Management Inc. raised its stake in shares of Taylor Morrison Home by 37.3% during the third quarter. Victory Capital Management Inc. now owns 10,197 shares of the construction company’s stock valued at $225,000 after purchasing an additional 2,768 shares in the last quarter. Finally, Optimum Investment Advisors bought a new stake in shares of Taylor Morrison Home during the third quarter valued at about $225,000. Institutional investors and hedge funds own 57.67% of the company’s stock.
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Taylor Morrison Home Company Profile
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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