Taylor Morrison Home (NYSE:TMHC) Earns “Market Perform” Rating from Citizens Jmp

Taylor Morrison Home (NYSE:TMHC)‘s stock had its “market perform” rating reiterated by equities researchers at Citizens Jmp in a research report issued on Monday,Benzinga reports.

A number of other brokerages have also recently issued reports on TMHC. Citigroup cut Taylor Morrison Home from an “outperform” rating to a “market perform” rating in a report on Monday. Bank of America reduced their target price on Taylor Morrison Home from $72.00 to $68.00 and set a “neutral” rating on the stock in a report on Monday, April 20th. Seaport Research Partners restated a “sell” rating and set a $49.00 target price (down from $85.00) on shares of Taylor Morrison Home in a report on Tuesday, April 7th. Zacks Research upgraded Taylor Morrison Home from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 22nd. Finally, Weiss Ratings cut Taylor Morrison Home from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, April 24th. Five analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $76.86.

Taylor Morrison Home Trading Up 22.4%

Shares of NYSE TMHC traded up $13.11 during mid-day trading on Monday, hitting $71.61. The company’s stock had a trading volume of 11,821,088 shares, compared to its average volume of 1,256,020. The stock has a market cap of $6.69 billion, a price-to-earnings ratio of 10.69, a price-to-earnings-growth ratio of 1.35 and a beta of 1.47. The company has a debt-to-equity ratio of 0.37, a current ratio of 7.66 and a quick ratio of 1.45. Taylor Morrison Home has a one year low of $54.15 and a one year high of $72.50. The company’s fifty day simple moving average is $59.11 and its 200-day simple moving average is $61.15.

Taylor Morrison Home (NYSE:TMHC) last issued its earnings results on Wednesday, April 22nd. The construction company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.30. The company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.33 billion. Taylor Morrison Home had a net margin of 8.77% and a return on equity of 11.48%. The company’s revenue for the quarter was down 26.8% on a year-over-year basis. During the same quarter last year, the firm earned $2.07 EPS. On average, sell-side analysts anticipate that Taylor Morrison Home will post 5.36 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Taylor Morrison Home

A number of hedge funds and other institutional investors have recently bought and sold shares of TMHC. AQR Capital Management LLC raised its position in Taylor Morrison Home by 67.6% in the 4th quarter. AQR Capital Management LLC now owns 3,710,885 shares of the construction company’s stock valued at $218,274,000 after buying an additional 1,497,329 shares during the last quarter. Norges Bank acquired a new stake in Taylor Morrison Home in the 4th quarter valued at approximately $84,994,000. Assenagon Asset Management S.A. raised its position in Taylor Morrison Home by 96.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 2,554,498 shares of the construction company’s stock valued at $148,774,000 after buying an additional 1,251,558 shares during the last quarter. M&T Bank Corp raised its position in Taylor Morrison Home by 28,246.3% in the 4th quarter. M&T Bank Corp now owns 1,058,169 shares of the construction company’s stock valued at $62,294,000 after buying an additional 1,054,436 shares during the last quarter. Finally, Alliancebernstein L.P. raised its position in Taylor Morrison Home by 360.1% in the 3rd quarter. Alliancebernstein L.P. now owns 1,284,221 shares of the construction company’s stock valued at $84,771,000 after buying an additional 1,005,116 shares during the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

Key Taylor Morrison Home News

Here are the key news stories impacting Taylor Morrison Home this week:

• Positive Sentiment: Berkshire Hathaway agreed to acquire Taylor Morrison Home Corporation for $72.50 per share in cash, valuing the deal at about $8.5 billion in enterprise value and representing roughly a 24% premium to the prior close. PR Newswire: Berkshire Hathaway to Acquire Taylor Morrison Home Corporation for $8.5 Billion
• Positive Sentiment: The deal signals strong confidence from Berkshire Hathaway in the U.S. housing market and marks one of the first major strategic moves under CEO Greg Abel, which may boost investor sentiment across the sector. CNBC: Berkshire Hathaway makes $6.8 billion housing bet with Taylor Morrison deal

About Taylor Morrison Home

Taylor Morrison Home Corporation (NYSE:TMHC) is a leading national homebuilder and developer specializing in the design, construction and sale of single-family detached and attached homes. The company’s portfolio spans entry-level, first-time, move-up and active-adult segments, offering buyers a diverse array of architectural styles, floor plans and personalized design options. Through its vertically integrated model, Taylor Morrison manages land acquisition, community development, construction and sales to deliver quality homes and customer-focused experiences across its markets.

The company’s heritage traces back to Morrison Homes, founded in 1977, and Taylor Woodrow, established in 1921 in the United Kingdom.