Taylor Morrison Home Corp (TMHC) Downgraded by ValuEngine to Buy

ValuEngine downgraded shares of Taylor Morrison Home Corp (NASDAQ:TMHC) from a strong-buy rating to a buy rating in a report published on Thursday.

TMHC has been the topic of several other reports. Zacks Investment Research lowered Taylor Morrison Home Corp from a buy rating to a hold rating in a research note on Saturday, August 5th. BidaskClub upgraded Taylor Morrison Home Corp from a sell rating to a hold rating in a research note on Thursday, September 28th. Finally, Deutsche Bank AG boosted their price target on Taylor Morrison Home Corp from $25.00 to $27.00 and gave the company a buy rating in a research note on Monday, August 7th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $24.00.

Shares of Taylor Morrison Home Corp (NASDAQ:TMHC) traded up $0.27 during trading hours on Thursday, hitting $23.23. 100,102 shares of the stock were exchanged, compared to its average volume of 1,040,000. Taylor Morrison Home Corp has a 52 week low of $17.39 and a 52 week high of $24.79.

Taylor Morrison Home Corp (NASDAQ:TMHC) last posted its quarterly earnings data on Wednesday, November 1st. The construction company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.04. The business had revenue of $908.00 million for the quarter, compared to analyst estimates of $914.19 million. Taylor Morrison Home Corp had a return on equity of 9.57% and a net margin of 6.16%. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.49 earnings per share.

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Taylor Morrison Home Corp announced that its board has authorized a stock repurchase plan on Monday, September 18th that authorizes the company to repurchase $43.60 million in outstanding shares. This repurchase authorization authorizes the construction company to purchase up to 2.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

In other news, insider C. David Cone sold 35,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $23.79, for a total value of $832,650.00. Following the transaction, the insider now directly owns 42,511 shares of the company’s stock, valued at approximately $1,011,336.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Large investors have recently bought and sold shares of the business. Ameritas Investment Partners Inc. lifted its holdings in Taylor Morrison Home Corp by 62.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,369 shares of the construction company’s stock worth $129,000 after buying an additional 2,060 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Taylor Morrison Home Corp by 34.2% during the 1st quarter. Victory Capital Management Inc. now owns 6,315 shares of the construction company’s stock valued at $135,000 after acquiring an additional 1,608 shares during the last quarter. UBS Group AG raised its position in shares of Taylor Morrison Home Corp by 4.7% during the 1st quarter. UBS Group AG now owns 6,909 shares of the construction company’s stock valued at $147,000 after acquiring an additional 307 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Taylor Morrison Home Corp by 20.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,409 shares of the construction company’s stock valued at $154,000 after acquiring an additional 1,110 shares during the last quarter. Finally, Great West Life Assurance Co. Can raised its position in shares of Taylor Morrison Home Corp by 52.9% during the 2nd quarter. Great West Life Assurance Co. Can now owns 6,882 shares of the construction company’s stock valued at $165,000 after acquiring an additional 2,382 shares during the last quarter.

About Taylor Morrison Home Corp

Taylor Morrison Home Corporation is a homebuilder, which designs, builds and sells single-family detached and attached homes. The Company is also a land developer, with a portfolio of lifestyle and master-planned communities. Its segments include East, which includes Atlanta, Charlotte, North Florida, Raleigh, Southwest Florida and Tampa; Central, which includes Austin, Dallas, and Houston (each of the Dallas and Houston markets include both a Taylor Morrison division and a Darling Homes division); West, which includes Bay Area, Chicago, Denver, Phoenix, Sacramento and Southern California, and Mortgage Operations, which includes Taylor Morrison Home Funding, LLC (TMHF) and Inspired Title Services, LLC (Inspired Title).

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Taylor Morrison Home Corp (NASDAQ:TMHC)

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