Taylor Morrison Home (NYSE:TMHC) Price Target Cut to $90.00 by Analysts at JPMorgan Chase & Co.

Taylor Morrison Home (NYSE:TMHC) had its price target dropped by equities research analysts at JPMorgan Chase & Co. from $101.00 to $90.00 in a research note issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the construction company’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 39.06% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. StockNews.com upgraded Taylor Morrison Home from a “hold” rating to a “buy” rating in a research note on Thursday, October 24th. Barclays raised Taylor Morrison Home from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $75.00 to $90.00 in a report on Wednesday. Raymond James reaffirmed an “outperform” rating and issued a $84.00 price target (up previously from $81.00) on shares of Taylor Morrison Home in a research note on Tuesday, October 29th. Royal Bank of Canada increased their price objective on shares of Taylor Morrison Home from $74.00 to $77.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, Wedbush upgraded shares of Taylor Morrison Home from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $65.00 to $85.00 in a research report on Friday, October 25th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $85.33.

Taylor Morrison Home Stock Performance

Shares of NYSE TMHC opened at $64.72 on Friday. Taylor Morrison Home has a one year low of $49.98 and a one year high of $75.49. The company has a debt-to-equity ratio of 0.37, a current ratio of 6.24 and a quick ratio of 0.69. The firm has a market cap of $6.70 billion, a price-to-earnings ratio of 8.56 and a beta of 1.97. The stock’s fifty day moving average price is $69.82 and its two-hundred day moving average price is $64.81.

Taylor Morrison Home (NYSE:TMHC) last released its quarterly earnings results on Wednesday, October 23rd. The construction company reported $2.37 EPS for the quarter, topping analysts’ consensus estimates of $2.06 by $0.31. The business had revenue of $2.12 billion for the quarter, compared to analyst estimates of $1.96 billion. Taylor Morrison Home had a net margin of 10.39% and a return on equity of 15.91%. Taylor Morrison Home’s revenue for the quarter was up 26.6% compared to the same quarter last year. During the same period last year, the firm earned $1.62 earnings per share. On average, equities analysts forecast that Taylor Morrison Home will post 8.44 EPS for the current year.

Insider Activity

In other Taylor Morrison Home news, Director William H. Lyon sold 9,075 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $72.08, for a total value of $654,126.00. Following the sale, the director now owns 2,136,241 shares in the company, valued at $153,980,251.28. This trade represents a 0.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Darrell Sherman sold 68,433 shares of the company’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $70.50, for a total transaction of $4,824,526.50. Following the transaction, the executive vice president now owns 109,217 shares of the company’s stock, valued at $7,699,798.50. This trade represents a 38.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 128,621 shares of company stock worth $9,164,869. Corporate insiders own 3.50% of the company’s stock.

Institutional Trading of Taylor Morrison Home

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Assenagon Asset Management S.A. raised its holdings in Taylor Morrison Home by 271.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 896,032 shares of the construction company’s stock valued at $62,955,000 after buying an additional 654,541 shares during the last quarter. Vision Capital Corp acquired a new position in Taylor Morrison Home in the 3rd quarter valued at approximately $38,173,000. Charles Schwab Investment Management Inc. raised its stake in shares of Taylor Morrison Home by 26.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,362,020 shares of the construction company’s stock valued at $95,696,000 after acquiring an additional 282,227 shares during the last quarter. Barclays PLC lifted its holdings in shares of Taylor Morrison Home by 66.4% during the third quarter. Barclays PLC now owns 420,419 shares of the construction company’s stock worth $29,539,000 after purchasing an additional 167,735 shares during the period. Finally, World Investment Advisors LLC bought a new stake in shares of Taylor Morrison Home in the third quarter worth $10,291,000. 95.16% of the stock is currently owned by institutional investors.

Taylor Morrison Home Company Profile

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.