Taylor Morrison Home (NYSE:TMHC) Price Target Lowered to $72.00 at Bank of America

Key Points

• Bank of America has lowered its price target for Taylor Morrison Home from $75.00 to $72.00, while maintaining a "buy" rating, indicating a potential upside of 17.07% from the current stock price.
• The company reported quarterly earnings of $2.02 per share, surpassing estimates and showing a year-over-year revenue increase of 2.0% to $2.03 billion.
• Insider trading activity has seen significant stock sales, with Director Anne L. Mariucci selling 14,002 shares, reflecting a decreased position in the company.

Taylor Morrison Home (NYSE:TMHC - Get Free Report) had its price target decreased by analysts at Bank of America from $75.00 to $72.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the construction company's stock. Bank of America's target price points to a potential upside of 17.07% from the stock's current price.

Several other research analysts have also issued reports on the company. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Taylor Morrison Home in a research report on Wednesday. Seaport Res Ptn upgraded Taylor Morrison Home from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating and nine have given a Buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $77.13.

Taylor Morrison Home Trading Down 0.8%

Shares of TMHC traded down $0.51 during trading hours on Friday, reaching $61.50. 155,720 shares of the company traded hands, compared to its average volume of 1,075,921. The firm has a market cap of $6.17 billion, a price-to-earnings ratio of 7.09 and a beta of 1.61. Taylor Morrison Home has a 12-month low of $51.90 and a 12-month high of $75.49. The stock's fifty day moving average price is $67.04 and its 200 day moving average price is $61.98. The company has a current ratio of 6.54, a quick ratio of 0.74 and a debt-to-equity ratio of 0.35.

Taylor Morrison Home (NYSE:TMHC - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The construction company reported $2.02 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $1.93 billion. During the same period in the previous year, the company posted $1.86 earnings per share. The firm's quarterly revenue was up 2.0% on a year-over-year basis. Sell-side analysts forecast that Taylor Morrison Home will post 8.93 earnings per share for the current year.

Insiders Place Their Bets

In other Taylor Morrison Home news, Director Anne L. Mariucci sold 14,002 shares of the company's stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $70.00, for a total transaction of $980,140.00. Following the transaction, the director directly owned 48,191 shares in the company, valued at approximately $3,373,370. This represents a 22.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Curtis Vanhyfte sold 9,754 shares of the company's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $65.22, for a total value of $636,155.88. Following the completion of the sale, the chief financial officer directly owned 14,163 shares in the company, valued at $923,710.86. This trade represents a 40.78% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 67,351 shares of company stock worth $4,700,630. 1.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Taylor Morrison Home

A number of hedge funds have recently made changes to their positions in TMHC. GAMMA Investing LLC lifted its stake in shares of Taylor Morrison Home by 17,494.3% during the first quarter. GAMMA Investing LLC now owns 40,467 shares of the construction company's stock worth $2,430,000 after purchasing an additional 40,237 shares in the last quarter. UMB Bank n.a. raised its stake in Taylor Morrison Home by 107.1% during the first quarter. UMB Bank n.a. now owns 1,114 shares of the construction company's stock valued at $67,000 after buying an additional 576 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of Taylor Morrison Home by 49.5% during the 1st quarter. Farther Finance Advisors LLC now owns 791 shares of the construction company's stock valued at $48,000 after acquiring an additional 262 shares in the last quarter. Harbor Capital Advisors Inc. raised its holdings in shares of Taylor Morrison Home by 50.2% during the first quarter. Harbor Capital Advisors Inc. now owns 844 shares of the construction company's stock worth $51,000 after purchasing an additional 282 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in shares of Taylor Morrison Home during the 1st quarter worth approximately $909,000. Institutional investors and hedge funds 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.

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