Bank of America Lowers Taylor Morrison Home (NYSE:TMHC) Price Target to $68.00

Key Points

• Bank of America cut its price target for Taylor Morrison Home from $72.00 to $68.00 and kept a neutral rating, a target that implies about a 10.4% upside from the stock's current price.
• Analyst coverage remains mixed but overall favorable: six analysts rate TMHC a Buy, two Hold and one Sell, giving a consensus rating of Moderate Buy and a consensus price target of $77.33.
• Shares recently traded around $61.59, the company has a market cap of about $5.93 billion and high institutional ownership at roughly 95.16%, with a 12‑month range of $54.58 to $72.50.

Taylor Morrison Home (NYSE:TMHC - Get Free Report) had its price objective lowered by stock analysts at Bank of America from $72.00 to $68.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a "neutral" rating on the construction company's stock. Bank of America's price objective would indicate a potential upside of 10.41% from the stock's current price.

TMHC has been the topic of a number of other research reports. Citigroup began coverage on shares of Taylor Morrison Home in a report on Wednesday, January 7th. They issued an "outperform" rating on the stock. Seaport Research Partners reissued a "sell" rating and issued a $49.00 price target (down from $85.00) on shares of Taylor Morrison Home in a report on Tuesday, April 7th. Zacks Research lowered shares of Taylor Morrison Home from a "hold" rating to a "strong sell" rating in a report on Thursday, January 22nd. Truist Financial decreased their price target on shares of Taylor Morrison Home from $85.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday. Finally, Royal Bank Of Canada increased their price target on shares of Taylor Morrison Home from $62.00 to $68.00 and gave the stock an "outperform" rating in a report on Thursday, February 12th. Six research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $77.33.

Taylor Morrison Home Price Performance

Shares of TMHC stock traded up $0.95 on Monday, reaching $61.59. The company's stock had a trading volume of 299,621 shares, compared to its average volume of 1,168,453. The company has a quick ratio of 1.55, a current ratio of 7.31 and a debt-to-equity ratio of 0.36. Taylor Morrison Home has a 12-month low of $54.58 and a 12-month high of $72.50. The company has a market capitalization of $5.93 billion, a P/E ratio of 7.94, a PEG ratio of 8.46 and a beta of 1.58. The stock's 50 day simple moving average is $61.66 and its 200-day simple moving average is $61.51.

Institutional Investors Weigh In On Taylor Morrison Home

Institutional investors have recently made changes to their positions in the business. ORG Partners LLC purchased a new stake in shares of Taylor Morrison Home in the 3rd quarter valued at $26,000. Root Financial Partners LLC purchased a new stake in shares of Taylor Morrison Home in the 3rd quarter valued at $27,000. Miller Capital Partners Inc. purchased a new stake in shares of Taylor Morrison Home in the 4th quarter valued at $27,000. Pinnacle Holdings LLC purchased a new stake in shares of Taylor Morrison Home in the 3rd quarter valued at $32,000. Finally, Brown Brothers Harriman & Co. purchased a new stake in shares of Taylor Morrison Home in the 4th quarter valued at $33,000. Hedge funds and other institutional investors own 95.16% of the company's stock.

Taylor Morrison Home Company Profile

Taylor Morrison Home Corporation NYSE: TMHC is a leading national homebuilder and developer specializing in the design, construction and sale of single-family detached and attached homes. The company's portfolio spans entry-level, first-time, move-up and active-adult segments, offering buyers a diverse array of architectural styles, floor plans and personalized design options. Through its vertically integrated model, Taylor Morrison manages land acquisition, community development, construction and sales to deliver quality homes and customer-focused experiences across its markets.

The company's heritage traces back to Morrison Homes, founded in 1977, and Taylor Woodrow, established in 1921 in the United Kingdom.

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