Barclays Cuts Taylor Morrison Home (NYSE:TMHC) Price Target to $68.00

Key Points

• Barclays cut its price target on Taylor Morrison from $70 to $68 while keeping an "overweight" rating, a target that implies about a 16.1% upside from the prior close.
• Analyst views are mixed: MarketBeat shows a consensus "Moderate Buy" with a $78 consensus price target, but recent notes range from bullish (RBC, Citigroup) to downgrades and sell ratings from Seaport, Zacks and Weiss.
• Shares rose roughly 4.7% to $58.57 on the day; institutional ownership is very high at 95.16% after large stake increases by AQR, Norges Bank, M&T and AllianceBernstein, and the stock trades at a P/E of 7.55 with a $5.64 billion market cap.

Taylor Morrison Home (NYSE:TMHC - Get Free Report) had its price objective decreased by analysts at Barclays from $70.00 to $68.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an "overweight" rating on the construction company's stock. Barclays's price target would indicate a potential upside of 16.11% from the company's previous close.

Several other equities research analysts also recently weighed in on the company. Citigroup initiated coverage on Taylor Morrison Home in a research report on Wednesday, January 7th. They issued an "outperform" rating for the company. Seaport Research Partners reiterated a "sell" rating and issued a $49.00 price target (down from $85.00) on shares of Taylor Morrison Home in a research note on Tuesday. Zacks Research cut Taylor Morrison Home from a "hold" rating to a "strong sell" rating in a research note on Thursday, January 22nd. Weiss Ratings cut Taylor Morrison Home from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, February 20th. Finally, Royal Bank Of Canada boosted their price target on Taylor Morrison Home from $62.00 to $68.00 and gave the stock an "outperform" rating in a research note on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Taylor Morrison Home has a consensus rating of "Moderate Buy" and a consensus price target of $78.00.

Taylor Morrison Home Stock Up 4.7%

Shares of NYSE TMHC traded up $2.63 on Wednesday, hitting $58.57. The company had a trading volume of 642,331 shares, compared to its average volume of 1,088,268. Taylor Morrison Home has a 12-month low of $51.90 and a 12-month high of $72.50. The business has a 50 day moving average of $62.26 and a two-hundred day moving average of $61.90. The company has a quick ratio of 1.55, a current ratio of 7.31 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $5.64 billion, a P/E ratio of 7.55, a PEG ratio of 7.97 and a beta of 1.58.

Institutional Trading of Taylor Morrison Home

Several institutional investors and hedge funds have recently bought and sold shares of TMHC. AQR Capital Management LLC raised its stake in Taylor Morrison Home by 67.6% during the fourth quarter. AQR Capital Management LLC now owns 3,710,885 shares of the construction company's stock valued at $218,274,000 after buying an additional 1,497,329 shares in the last quarter. Norges Bank acquired a new stake in Taylor Morrison Home during the fourth quarter valued at approximately $84,994,000. M&T Bank Corp raised its stake in Taylor Morrison Home by 28,246.3% during the fourth quarter. M&T Bank Corp now owns 1,058,169 shares of the construction company's stock valued at $62,294,000 after buying an additional 1,054,436 shares in the last quarter. Alliancebernstein L.P. raised its stake in Taylor Morrison Home by 360.1% during the third quarter. Alliancebernstein L.P. now owns 1,284,221 shares of the construction company's stock valued at $84,771,000 after buying an additional 1,005,116 shares in the last quarter. Finally, Freestone Grove Partners LP acquired a new stake in Taylor Morrison Home during the third quarter valued at approximately $56,894,000. Institutional investors and hedge funds own 95.16% of the company's stock.

About Taylor Morrison Home

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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