Taylor Morrison Home (TMHC) Lifted to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Taylor Morrison Home (NYSE:TMHC) from a hold rating to a buy rating in a report issued on Friday. Zacks Investment Research currently has $21.00 price objective on the construction company’s stock.

According to Zacks, “Taylor Morrison Home Corporation is a homebuilder and land developer engaged in building single-family detached and attached homes for first-time buyers, move-up families to luxury and active adult customers. The company operates under the Taylor Morrison brand, Monarch brand and Darling Homes brand. It operates in Arizona, California, Colorado, Florida and Texas. Taylor Morrison Home Corporation is headquartered in Scottsdale, Arizona. “

Several other analysts also recently commented on the company. Barclays set a $16.00 price objective on Taylor Morrison Home and gave the stock a sell rating in a research note on Wednesday, December 12th. ValuEngine raised Taylor Morrison Home from a strong sell rating to a sell rating in a research note on Friday, December 7th. Wells Fargo & Co set a $24.00 price objective on Taylor Morrison Home and gave the stock a buy rating in a research note on Thursday, November 1st. Deutsche Bank raised their price objective on Taylor Morrison Home from $14.00 to $16.00 and gave the stock a hold rating in a research note on Thursday, November 1st. Finally, Citigroup reaffirmed a buy rating and set a $19.00 price objective (down previously from $27.00) on shares of Taylor Morrison Home in a research note on Monday, October 29th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $22.38.

NYSE:TMHC opened at $18.22 on Friday. Taylor Morrison Home has a 12-month low of $14.73 and a 12-month high of $28.25. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.07 and a current ratio of 7.58. The firm has a market capitalization of $2.21 billion, a PE ratio of 9.20, a P/E/G ratio of 0.73 and a beta of 1.18.

Taylor Morrison Home (NYSE:TMHC) last posted its quarterly earnings results on Wednesday, October 31st. The construction company reported $0.83 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.19. Taylor Morrison Home had a return on equity of 11.21% and a net margin of 5.34%. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same period last year, the company earned $0.45 EPS. The firm’s revenue was up 14.1% on a year-over-year basis. Analysts forecast that Taylor Morrison Home will post 2.22 EPS for the current fiscal year.

Large investors have recently added to or reduced their stakes in the stock. Commonwealth Bank of Australia bought a new position in Taylor Morrison Home during the third quarter worth about $137,000. Rehmann Capital Advisory Group grew its holdings in Taylor Morrison Home by 1,703.9% during the third quarter. Rehmann Capital Advisory Group now owns 5,574 shares of the construction company’s stock worth $309,000 after purchasing an additional 5,265 shares during the period. SG Americas Securities LLC grew its holdings in Taylor Morrison Home by 57.5% during the second quarter. SG Americas Securities LLC now owns 16,418 shares of the construction company’s stock worth $341,000 after purchasing an additional 5,995 shares during the period. Russell Investments Group Ltd. grew its holdings in Taylor Morrison Home by 82.1% during the third quarter. Russell Investments Group Ltd. now owns 21,204 shares of the construction company’s stock worth $382,000 after purchasing an additional 9,562 shares during the period. Finally, Victory Capital Management Inc. grew its holdings in Taylor Morrison Home by 48.1% during the third quarter. Victory Capital Management Inc. now owns 22,447 shares of the construction company’s stock worth $405,000 after purchasing an additional 7,290 shares during the period. 93.62% of the stock is currently owned by institutional investors and hedge funds.

About Taylor Morrison Home

Taylor Morrison Home Corporation operates as a public homebuilder in the United States. The company designs, builds, and sells single-family detached and attached homes; and develops lifestyle and master-planned communities. It operates under the Taylor Morrison and Darling Homes brand names in Arizona, California, Colorado, Florida, Georgia, Illinois, North Carolina and Texas.

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