Bank of America Reiterates Neutral Rating for Taylor Morrison Home (NYSE:TMHC)

Taylor Morrison Home (NYSE:TMHC)‘s stock had its “neutral” rating reaffirmed by research analysts at Bank of America in a report released on Friday, Marketbeat.com reports. They presently have a $70.00 price target on the construction company’s stock, up from their prior price target of $68.00. Bank of America‘s price target suggests a potential upside of 9.92% from the stock’s current price.

TMHC has been the subject of a number of other research reports. Zacks Research upgraded Taylor Morrison Home from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 23rd. Barclays reiterated an “overweight” rating and issued a $71.00 target price on shares of Taylor Morrison Home in a report on Monday, December 8th. Wedbush reissued an “outperform” rating and issued a $85.00 target price on shares of Taylor Morrison Home in a research report on Thursday, October 23rd. Royal Bank Of Canada restated an “outperform” rating and issued a $62.00 price target on shares of Taylor Morrison Home in a research report on Friday, January 9th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Taylor Morrison Home in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $77.14.

Taylor Morrison Home Stock Down 0.7%

Shares of TMHC stock opened at $63.68 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.02 and a current ratio of 7.02. The stock has a market cap of $6.22 billion, a PE ratio of 7.66 and a beta of 1.59. The business’s fifty day moving average is $60.91 and its 200-day moving average is $63.31. Taylor Morrison Home has a 1 year low of $51.90 and a 1 year high of $72.50.

Taylor Morrison Home (NYSE:TMHC) last issued its quarterly earnings results on Wednesday, October 22nd. The construction company reported $2.11 earnings per share for the quarter, beating analysts’ consensus estimates of $1.93 by $0.18. Taylor Morrison Home had a net margin of 10.16% and a return on equity of 15.23%. The company had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the prior year, the company earned $2.40 EPS. Taylor Morrison Home’s revenue was down 1.2% on a year-over-year basis. Equities analysts expect that Taylor Morrison Home will post 8.93 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 added to or reduced their stakes in TMHC. Arkadios Wealth Advisors acquired a new stake in Taylor Morrison Home in the 2nd quarter valued at $359,000. Nordea Investment Management AB boosted its position in Taylor Morrison Home by 3.9% in the second quarter. Nordea Investment Management AB now owns 175,654 shares of the construction company’s stock valued at $10,722,000 after buying an additional 6,598 shares in the last quarter. Pacer Advisors Inc. bought a new stake in Taylor Morrison Home during the third quarter worth about $1,357,000. Aviva PLC acquired a new stake in shares of Taylor Morrison Home during the second quarter worth approximately $558,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Taylor Morrison Home by 1.5% in the second quarter. Charles Schwab Investment Management Inc. now owns 1,374,540 shares of the construction company’s stock valued at $84,424,000 after acquiring an additional 20,902 shares during the last quarter. Hedge funds and other institutional investors own 95.16% of the company’s stock.

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.