Zacks Investment Research upgraded shares of Taylor Morrison Home Corp (NASDAQ:TMHC) from a hold rating to a strong-buy rating in a research note released on Thursday morning. The brokerage currently has $23.00 price target on the stock.
According to Zacks, “Taylor Morrison Home Corporation is a homebuilder and land developer engaged in building single-family detached and attached homes for first-time buyers, move-up families to luxury and active adult customers. The company operates under the Taylor Morrison brand, Monarch brand and Darling Homes brand. It operates in Arizona, California, Colorado, Florida and Texas. Taylor Morrison Home Corporation is headquartered in Scottsdale, Arizona. “
Other analysts have also issued research reports about the company. TheStreet lowered Taylor Morrison Home Corp from a buy rating to a hold rating in a report on Tuesday, October 11th. Wells Fargo & Company assumed coverage on Taylor Morrison Home Corp in a report on Wednesday, September 28th. They set a market perform rating on the stock. Gabelli lowered Taylor Morrison Home Corp from a buy rating to a hold rating and set a $21.00 price objective on the stock. in a report on Thursday, December 8th. Finally, Barclays PLC assumed coverage on Taylor Morrison Home Corp in a report on Thursday, January 5th. They set an equal weight rating and a $21.00 price objective on the stock. Eight analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $20.11.
Taylor Morrison Home Corp (NASDAQ:TMHC) opened at 21.01 on Thursday. Taylor Morrison Home Corp has a 1-year low of $10.33 and a 1-year high of $21.61. The stock has a 50 day moving average price of $19.90 and a 200 day moving average price of $18.12. The company has a market cap of $639.02 million and a PE ratio of 14.09.
Taylor Morrison Home Corp (NASDAQ:TMHC) last announced its quarterly earnings data on Wednesday, November 2nd. The company reported $0.49 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.03. The firm had revenue of $853 million for the quarter, compared to analyst estimates of $862.21 million. During the same period in the previous year, the business posted $0.37 EPS. Taylor Morrison Home Corp’s revenue for the quarter was up 7.2% compared to the same quarter last year. Equities analysts forecast that Taylor Morrison Home Corp will post $1.67 earnings per share for the current year.
Institutional investors have recently bought and sold shares of the company. TPG Group Holdings SBS Advisors Inc. bought a new position in Taylor Morrison Home Corp during the third quarter valued at approximately $26,395,000. Hexavest Inc. increased its position in shares of Taylor Morrison Home Corp by 97.3% in the third quarter. Hexavest Inc. now owns 1,589,004 shares of the company’s stock valued at $27,966,000 after buying an additional 783,643 shares during the last quarter. New Amsterdam Partners LLC NY acquired a new position in shares of Taylor Morrison Home Corp during the third quarter valued at about $2,575,000. Piermont Capital Management Inc. acquired a new position in shares of Taylor Morrison Home Corp during the third quarter valued at about $2,039,000. Finally, Citadel Advisors LLC increased its position in shares of Taylor Morrison Home Corp by 39.7% in the second quarter. Citadel Advisors LLC now owns 332,164 shares of the company’s stock valued at $4,929,000 after buying an additional 94,326 shares during the last quarter.
About Taylor Morrison Home Corp
Taylor Morrison Home Corporation is a real estate development company, with a portfolio of lifestyle and master-planned communities. The Company is engaged in the business of residential homebuilding and the development of lifestyle communities with operations geographically focused in Arizona, California, Colorado, Florida, Texas and its acquired divisions in Georgia, Illinois and North Carolina.
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