JPMorgan Chase & Co. Has Lowered Expectations for Taylor Morrison Home (NYSE:TMHC) Stock Price

Taylor Morrison Home (NYSE:TMHC) had its price target reduced by investment analysts at JPMorgan Chase & Co. from $101.00 to $90.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the construction company’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 39.06% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. BTIG Research upped their price objective on Taylor Morrison Home from $78.00 to $86.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Barclays upgraded shares of Taylor Morrison Home from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $75.00 to $90.00 in a research report on Wednesday. Raymond James restated an “outperform” rating and set a $84.00 price objective (up previously from $81.00) on shares of Taylor Morrison Home in a report on Tuesday, October 29th. Royal Bank of Canada upped their target price on shares of Taylor Morrison Home from $74.00 to $77.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Finally, StockNews.com raised shares of Taylor Morrison Home from a “hold” rating to a “buy” rating in a research report on Thursday, October 24th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.33.

Taylor Morrison Home Stock Down 3.6 %

Shares of NYSE TMHC opened at $64.72 on Friday. Taylor Morrison Home has a 1 year low of $49.98 and a 1 year high of $75.49. The firm’s 50-day moving average is $69.82 and its 200-day moving average is $64.81. The company has a current ratio of 6.24, a quick ratio of 0.69 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $6.70 billion, a PE ratio of 8.56 and a beta of 1.97.

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

Insiders Place Their Bets

In related news, EVP Darrell Sherman sold 68,433 shares of the stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $70.50, for a total transaction of $4,824,526.50. Following the completion of the transaction, the executive vice president now owns 109,217 shares in the company, valued at approximately $7,699,798.50. This represents a 38.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director William H. Lyon sold 24,284 shares of Taylor Morrison Home stock in a transaction 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 completion of the sale, the director now owns 2,045,316 shares in the company, valued at $152,294,229.36. The trade was a 1.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 128,621 shares of company stock worth $9,164,869. Corporate insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On Taylor Morrison Home

Several hedge funds have recently modified their holdings of the stock. Assenagon Asset Management S.A. increased its holdings in Taylor Morrison Home by 271.0% during the third quarter. Assenagon Asset Management S.A. now owns 896,032 shares of the construction company’s stock worth $62,955,000 after buying an additional 654,541 shares during the last quarter. Vision Capital Corp bought a new position in shares of Taylor Morrison Home in the 3rd quarter valued at about $38,173,000. Charles Schwab Investment Management Inc. increased its stake in shares of Taylor Morrison Home by 26.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,362,020 shares of the construction company’s stock worth $95,696,000 after purchasing an additional 282,227 shares during the last quarter. Barclays PLC raised its holdings in shares of Taylor Morrison Home by 66.4% in the 3rd quarter. Barclays PLC now owns 420,419 shares of the construction company’s stock valued at $29,539,000 after purchasing an additional 167,735 shares during the period. Finally, World Investment Advisors LLC acquired a new stake in Taylor Morrison Home in the 3rd quarter valued at about $10,291,000. 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.