JPMorgan Chase & Co. Cuts Taylor Morrison Home (NYSE:TMHC) Price Target to $82.00

Taylor Morrison Home (NYSE:TMHC) had its price objective trimmed by JPMorgan Chase & Co. from $90.00 to $82.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an overweight rating on the construction company’s stock.

TMHC has been the topic of several other research reports. Barclays upgraded shares of Taylor Morrison Home from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $75.00 to $90.00 in a research note on Wednesday, December 11th. Wolfe Research raised shares of Taylor Morrison Home from a “peer perform” rating to an “outperform” rating and set a $76.00 target price on the stock in a research report on Wednesday, January 8th. Raymond James restated an “outperform” rating and set a $84.00 target price (up from $81.00) on shares of Taylor Morrison Home in a report on Tuesday, October 29th. Wedbush upgraded Taylor Morrison Home from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $65.00 to $85.00 in a research note on Friday, October 25th. Finally, BTIG Research raised their price objective on Taylor Morrison Home from $78.00 to $86.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Taylor Morrison Home has an average rating of “Moderate Buy” and a consensus target price of $82.43.

Taylor Morrison Home Stock Performance

Shares of TMHC stock opened at $62.07 on Tuesday. The stock’s fifty day simple moving average is $63.00 and its 200-day simple moving average is $66.24. The company has a market capitalization of $6.42 billion, a price-to-earnings ratio of 7.50 and a beta of 2.03. The company has a current ratio of 6.39, a quick ratio of 0.94 and a debt-to-equity ratio of 0.36. Taylor Morrison Home has a 1-year low of $53.17 and a 1-year high of $75.49.

Taylor Morrison Home (NYSE:TMHC) last issued its earnings results on Wednesday, February 12th. The construction company reported $2.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.40 by $0.24. Taylor Morrison Home had a net margin of 10.81% and a return on equity of 16.50%. On average, sell-side analysts predict that Taylor Morrison Home will post 9.11 earnings per share for the current fiscal year.

Insider Buying and Selling at Taylor Morrison Home

In other Taylor Morrison Home news, Director William H. Lyon sold 24,284 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $74.46, for a total value of $1,808,186.64. Following the completion of the sale, the director now directly owns 2,045,316 shares of the company’s stock, valued at $152,294,229.36. This represents a 1.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp increased its stake in Taylor Morrison Home by 2.8% during the third quarter. State Street Corp now owns 4,987,968 shares of the construction company’s stock valued at $350,455,000 after acquiring an additional 136,432 shares during the period. Principal Financial Group Inc. increased its position in shares of Taylor Morrison Home by 3.5% during the third quarter. Principal Financial Group Inc. now owns 2,051,580 shares of the construction company’s stock valued at $144,144,000 after purchasing an additional 69,222 shares during the period. Northern Trust Corp raised its stake in shares of Taylor Morrison Home by 13.4% in the fourth quarter. Northern Trust Corp now owns 1,670,241 shares of the construction company’s stock valued at $102,235,000 after purchasing an additional 197,880 shares in the last quarter. Norges Bank bought a new position in Taylor Morrison Home in the fourth quarter worth $93,810,000. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Taylor Morrison Home by 1.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,369,832 shares of the construction company’s stock worth $83,847,000 after buying an additional 20,908 shares in the last quarter. 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.