Taylor Morrison Home (NYSE:TMHC) Rating Reiterated by Wedbush

Wedbush reaffirmed their neutral rating on shares of Taylor Morrison Home (NYSE:TMHC) in a research note released on Wednesday morning, MarketBeat reports. The firm currently has a $65.00 target price on the construction company’s stock, up from their prior target price of $61.00. Wedbush also issued estimates for Taylor Morrison Home’s Q3 2024 earnings at $1.96 EPS, Q4 2024 earnings at $2.45 EPS, FY2024 earnings at $8.21 EPS, Q1 2025 earnings at $1.77 EPS, Q2 2025 earnings at $2.15 EPS, Q3 2025 earnings at $2.34 EPS, Q4 2025 earnings at $2.71 EPS, FY2025 earnings at $9.13 EPS and FY2026 earnings at $9.74 EPS.

Several other brokerages have also issued reports on TMHC. StockNews.com lowered Taylor Morrison Home from a buy rating to a hold rating in a research report on Friday, July 19th. Zelman & Associates raised Taylor Morrison Home from an underperform rating to a neutral rating in a research report on Friday, April 12th. Royal Bank of Canada raised their target price on Taylor Morrison Home from $61.00 to $63.00 and gave the company an outperform rating in a research report on Wednesday, May 1st. Raymond James initiated coverage on Taylor Morrison Home in a research report on Wednesday. They set an outperform rating and a $75.00 target price for the company. Finally, Barclays decreased their target price on Taylor Morrison Home from $65.00 to $62.00 and set an equal weight rating for the company in a research report on Friday, July 12th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Taylor Morrison Home presently has a consensus rating of Hold and an average target price of $66.50.

Taylor Morrison Home Price Performance

Taylor Morrison Home stock opened at $67.28 on Wednesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.91 and a current ratio of 6.01. Taylor Morrison Home has a 52-week low of $37.23 and a 52-week high of $68.92. The stock’s 50 day moving average price is $57.92 and its two-hundred day moving average price is $56.86. The stock has a market capitalization of $7.12 billion, a price-to-earnings ratio of 9.63 and a beta of 1.95.

Taylor Morrison Home (NYSE:TMHC) last released its quarterly earnings results on Tuesday, April 30th. The construction company reported $1.75 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $0.18. The business had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.66 billion. Taylor Morrison Home had a return on equity of 14.99% and a net margin of 9.92%. Taylor Morrison Home’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.74 EPS. On average, equities analysts predict that Taylor Morrison Home will post 7.78 earnings per share for the current year.

Insiders Place Their Bets

In other Taylor Morrison Home news, CEO Sheryl Palmer sold 100,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 19,211 shares in the company, valued at approximately $1,185,318.70. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Taylor Morrison Home news, CEO Sheryl Palmer sold 100,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 19,211 shares in the company, valued at approximately $1,185,318.70. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director William H. Lyon sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $64.33, for a total value of $1,929,900.00. Following the completion of the transaction, the director now owns 2,255,316 shares of the company’s stock, valued at approximately $145,084,478.28. The disclosure for this sale can be found here. Insiders sold a total of 160,000 shares of company stock worth $10,089,200 in the last quarter. 3.50% of the stock is owned by company insiders.

Institutional Trading of Taylor Morrison Home

A number of large investors have recently modified their holdings of TMHC. Norges Bank purchased a new position in shares of Taylor Morrison Home during the 4th quarter valued at about $63,137,000. Wedge Capital Management L L P NC raised its holdings in shares of Taylor Morrison Home by 1,910.4% during the 2nd quarter. Wedge Capital Management L L P NC now owns 727,919 shares of the construction company’s stock valued at $40,356,000 after buying an additional 691,711 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Taylor Morrison Home by 4,586.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 663,385 shares of the construction company’s stock valued at $41,243,000 after buying an additional 649,230 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Taylor Morrison Home by 3,268.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 452,087 shares of the construction company’s stock valued at $24,119,000 after buying an additional 438,664 shares in the last quarter. Finally, Assetmark Inc. increased its stake in Taylor Morrison Home by 99.3% in the 4th quarter. Assetmark Inc. now owns 786,812 shares of the construction company’s stock worth $41,976,000 after purchasing an additional 391,964 shares during the period. Institutional investors own 95.16% of the company’s stock.

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.