Bank of America Forecasts Strong Price Appreciation for Taylor Morrison Home (NYSE:TMHC) Stock

Key Points

• Bank of America raised its price target for Taylor Morrison Home's stock from $72 to $75, indicating a potential upside of 8.83% from its previous close.
• Multiple analysts have rated TMHC stock positively, with one firm upgrading it to a "strong-buy" and the average price target set at $77.50.
• Taylor Morrison Home reported an earnings per share (EPS) of $2.02 for the last quarter, exceeding analysts' expectations and demonstrating a 2.0% increase in revenue year-over-year.

Taylor Morrison Home (NYSE:TMHC - Get Free Report) had its target price upped by research analysts at Bank of America from $72.00 to $75.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a "buy" rating on the construction company's stock. Bank of America's price target suggests a potential upside of 10.85% from the stock's previous close.

A number of other equities analysts have also recently weighed in on TMHC. Wall Street Zen cut Taylor Morrison Home from a "buy" rating to a "hold" rating in a report on Sunday, June 1st. Seaport Res Ptn upgraded Taylor Morrison Home from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the company. Based on data from MarketBeat, Taylor Morrison Home currently has an average rating of "Buy" and a consensus target price of $77.50.

Taylor Morrison Home Trading Down 2.2%

TMHC traded down $1.54 during midday trading on Thursday, hitting $67.66. The company's stock had a trading volume of 2,298,753 shares, compared to its average volume of 1,074,620. The company has a current ratio of 6.54, a quick ratio of 0.74 and a debt-to-equity ratio of 0.35. The firm has a market cap of $6.79 billion, a P/E ratio of 7.81 and a beta of 1.58. The firm has a 50-day moving average price of $66.08 and a two-hundred day moving average price of $61.45. Taylor Morrison Home has a 52-week low of $51.90 and a 52-week high of $75.49.

Taylor Morrison Home (NYSE:TMHC - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The construction company reported $2.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.94 by $0.08. Taylor Morrison Home had a return on equity of 16.22% and a net margin of 10.72%.The business had revenue of $2.03 billion during the quarter, compared to analysts' expectations of $1.93 billion. During the same quarter in the previous year, the business earned $1.86 EPS. The company's revenue for the quarter was up 2.0% on a year-over-year basis. On average, research analysts anticipate that Taylor Morrison Home will post 8.93 earnings per share for the current year.

Insider Activity at Taylor Morrison Home

In other Taylor Morrison Home news, CEO Sheryl Palmer sold 13,513 shares of the stock in a transaction on Friday, September 5th. The stock was sold at an average price of $72.06, for a total value of $973,746.78. Following the sale, the chief executive officer directly owned 370,475 shares of the company's stock, valued at $26,696,428.50. This trade represents a 3.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Anne L. Mariucci sold 14,002 shares of the stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $70.00, for a total value of $980,140.00. Following the completion of the sale, the director directly owned 48,191 shares in the company, valued at $3,373,370. This represents a 22.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 67,351 shares of company stock valued at $4,700,630. Corporate insiders own 1.40% of the company's stock.

Institutional Investors Weigh In On Taylor Morrison Home

Large investors have recently added to or reduced their stakes in the stock. Atlantic Union Bankshares Corp acquired a new stake in Taylor Morrison Home in the second quarter worth $28,000. AlphaCore Capital LLC acquired a new stake in Taylor Morrison Home in the second quarter worth $37,000. GAMMA Investing LLC increased its position in Taylor Morrison Home by 193.0% in the first quarter. GAMMA Investing LLC now owns 674 shares of the construction company's stock worth $40,000 after buying an additional 444 shares during the period. Farther Finance Advisors LLC increased its position in Taylor Morrison Home by 49.5% in the first quarter. Farther Finance Advisors LLC now owns 791 shares of the construction company's stock worth $48,000 after buying an additional 262 shares during the period. Finally, Harbor Capital Advisors Inc. increased its position in Taylor Morrison Home by 50.2% in the first quarter. Harbor Capital Advisors Inc. now owns 844 shares of the construction company's stock worth $51,000 after buying an additional 282 shares during the period. 95.16% of the stock is owned by institutional investors and hedge funds.

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.