Taylor Morrison Home (NYSE:TMHC) Price Target Cut to $90.00 by Analysts at JPMorgan Chase & Co.

Taylor Morrison Home (NYSE:TMHC) had its target price cut by equities research analysts at JPMorgan Chase & Co. from $101.00 to $90.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the construction company’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 33.99% from the stock’s current price.

A number of other research analysts also recently weighed in on TMHC. Royal Bank of Canada increased their target price on Taylor Morrison Home from $74.00 to $77.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Wedbush upgraded Taylor Morrison Home from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $65.00 to $85.00 in a research note on Friday, October 25th. BTIG Research lifted their target price on Taylor Morrison Home from $78.00 to $86.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Barclays upgraded Taylor Morrison Home from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $75.00 to $90.00 in a research report on Wednesday. Finally, StockNews.com raised shares of Taylor Morrison Home from a “hold” rating to a “buy” rating in a report on Thursday, October 24th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $85.33.

Taylor Morrison Home Price Performance

TMHC opened at $67.17 on Friday. The company’s 50-day simple moving average is $69.88 and its two-hundred day simple moving average is $64.76. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.69 and a current ratio of 6.24. The stock has a market capitalization of $6.95 billion, a P/E ratio of 8.88 and a beta of 1.97. Taylor Morrison Home has a 52-week low of $46.73 and a 52-week high of $75.49.

Taylor Morrison Home (NYSE:TMHC) last issued its quarterly earnings data on Wednesday, October 23rd. The construction company reported $2.37 earnings per share for the quarter, beating analysts’ consensus estimates of $2.06 by $0.31. The company had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $1.96 billion. Taylor Morrison Home had a net margin of 10.39% and a return on equity of 15.91%. The firm’s revenue for the quarter was up 26.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.62 earnings per share. As a group, analysts predict that Taylor Morrison Home will post 8.44 EPS for the current year.

Insider Activity at Taylor Morrison Home

In other news, Director William H. Lyon sold 24,284 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $74.46, for a total transaction of $1,808,186.64. Following the transaction, the director now directly owns 2,045,316 shares of the company’s stock, valued at approximately $152,294,229.36. This trade represents a 1.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Darrell Sherman sold 26,757 shares of Taylor Morrison Home stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $70.00, for a total value of $1,872,990.00. Following the completion of the sale, the executive vice president now owns 109,217 shares of the company’s stock, valued at $7,645,190. The trade was a 19.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 128,621 shares of company stock valued at $9,164,869. Insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. CWM LLC boosted its stake in Taylor Morrison Home by 15.7% in the 2nd quarter. CWM LLC now owns 2,334 shares of the construction company’s stock worth $129,000 after purchasing an additional 316 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of Taylor Morrison Home by 23.0% during the second quarter. Blue Trust Inc. now owns 4,307 shares of the construction company’s stock worth $239,000 after buying an additional 805 shares during the period. TCW Group Inc. grew its holdings in shares of Taylor Morrison Home by 0.4% during the second quarter. TCW Group Inc. now owns 52,193 shares of the construction company’s stock valued at $2,894,000 after buying an additional 213 shares during the last quarter. Raymond James & Associates increased its position in shares of Taylor Morrison Home by 10.1% in the 2nd quarter. Raymond James & Associates now owns 57,491 shares of the construction company’s stock valued at $3,187,000 after acquiring an additional 5,296 shares during the period. Finally, Summit Global Investments purchased a new position in Taylor Morrison Home in the 2nd quarter worth $1,287,000. Institutional investors own 95.16% of the company’s stock.

About Taylor Morrison Home

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.