Taylor Morrison Home (NYSE:TMHC) Price Target Raised to $74.00 at Royal Bank of Canada

Taylor Morrison Home (NYSE:TMHC) had its price objective upped by Royal Bank of Canada from $63.00 to $74.00 in a research note published on Thursday, Benzinga reports. They currently have an outperform rating on the construction company’s stock.

TMHC has been the topic of several other research reports. StockNews.com downgraded shares of Taylor Morrison Home from a buy rating to a hold rating in a research note on Friday, July 19th. Zelman & Associates upgraded shares of Taylor Morrison Home from an underperform rating to a neutral rating in a research report on Friday, April 12th. Wedbush restated a neutral rating and set a $65.00 price objective (up from $61.00) on shares of Taylor Morrison Home in a research report on Wednesday, July 24th. Barclays decreased their price objective on shares of Taylor Morrison Home from $65.00 to $62.00 and set an equal weight rating on the stock in a research report on Friday, July 12th. Finally, Raymond James started coverage on shares of Taylor Morrison Home in a report on Wednesday, July 24th. They issued an outperform rating and a $75.00 price target on the stock. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $68.60.

Taylor Morrison Home Trading Up 2.7 %

NYSE:TMHC opened at $67.29 on Thursday. The company’s 50-day simple moving average is $57.92 and its 200 day simple moving average is $56.93. The firm has a market capitalization of $7.12 billion, a P/E ratio of 9.63 and a beta of 1.95. Taylor Morrison Home has a one year low of $37.23 and a one year high of $68.92. The company has a debt-to-equity ratio of 0.39, a current ratio of 6.01 and a quick ratio of 0.91.

Taylor Morrison Home (NYSE:TMHC) last issued its earnings results on Tuesday, April 30th. The construction company reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.18. The firm had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.66 billion. Taylor Morrison Home had a net margin of 9.92% and a return on equity of 14.99%. The business’s revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.74 earnings per share. As a group, analysts forecast that Taylor Morrison Home will post 7.64 EPS for the current fiscal year.

Insiders Place Their Bets

In other Taylor Morrison Home news, CEO Sheryl Palmer sold 100,000 shares of Taylor Morrison Home stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $61.70, for a total value of $6,170,000.00. Following the completion of the transaction, the chief executive officer now directly owns 19,211 shares of the company’s stock, valued at approximately $1,185,318.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Taylor Morrison Home news, CEO Sheryl Palmer sold 100,000 shares of Taylor Morrison Home stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $61.70, for a total value of $6,170,000.00. Following the completion of the transaction, the chief executive officer now directly owns 19,211 shares of the company’s stock, valued at approximately $1,185,318.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director William H. Lyon sold 30,000 shares of Taylor Morrison Home stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $66.31, for a total transaction of $1,989,300.00. Following the completion of the transaction, the director now directly owns 2,225,316 shares of the company’s stock, valued at $147,560,703.96. The disclosure for this sale can be found here. Insiders sold 160,000 shares of company stock valued at $10,089,200 in the last three months. Corporate insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On Taylor Morrison Home

Large investors have recently made changes to their positions in the company. Rise Advisors LLC purchased a new position in shares of Taylor Morrison Home during the 1st quarter worth about $26,000. ICA Group Wealth Management LLC purchased a new position in shares of Taylor Morrison Home during the 4th quarter worth about $27,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Taylor Morrison Home during the 2nd quarter worth about $31,000. Private Wealth Management Group LLC purchased a new position in shares of Taylor Morrison Home during the 4th quarter worth about $39,000. Finally, Daiwa Securities Group Inc. purchased a new position in shares of Taylor Morrison Home during the 4th quarter worth about $48,000. 95.16% of the stock is owned by hedge funds and other institutional investors.

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.