Taylor Wimpey (LON:TW) Price Target Cut to GBX 100 by Analysts at JPMorgan Chase & Co.

Key Points

• JPMorgan cut its Taylor Wimpey price target from GBX 120 to GBX 100 and kept a "neutral" rating, with the new target implying roughly a 26.6% upside from the current share price.
• The stock fell about 5.3% to GBX 79 on heavy volume as several brokers trimmed targets; analysts are split (five Buy, five Hold) and the consensus target is GBX 117.50 ("Moderate Buy").
• Company insiders bought 230,222 shares at an average of GBX 86 recently, and insiders now own about 0.87% of the stock, indicating insider buying activity.

Taylor Wimpey (LON:TW - Get Free Report) had its target price dropped by investment analysts at JPMorgan Chase & Co. from GBX 120 to GBX 100 in a research note issued on Wednesday,Digital Look reports. The brokerage presently has a "neutral" rating on the homebuilder's stock. JPMorgan Chase & Co.'s price target suggests a potential upside of 26.58% from the company's current price.

A number of other brokerages also recently weighed in on TW. Citigroup dropped their target price on Taylor Wimpey from GBX 143 to GBX 137 and set a "buy" rating on the stock in a report on Friday, January 16th. Bank of America dropped their target price on Taylor Wimpey from GBX 110 to GBX 90 and set a "neutral" rating on the stock in a report on Monday, March 30th. Jefferies Financial Group dropped their target price on Taylor Wimpey from GBX 140 to GBX 132 and set a "buy" rating on the stock in a report on Monday, January 19th. Royal Bank Of Canada reiterated an "outperform" rating and issued a GBX 150 target price on shares of Taylor Wimpey in a report on Friday, January 16th. Finally, Berenberg Bank dropped their target price on Taylor Wimpey from GBX 120 to GBX 105 and set a "buy" rating on the stock in a report on Wednesday. Five analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Taylor Wimpey has an average rating of "Moderate Buy" and an average target price of GBX 117.50.

Taylor Wimpey Stock Down 5.3%

Shares of TW traded down GBX 4.38 during trading hours on Wednesday, reaching GBX 79. The company's stock had a trading volume of 58,131,265 shares, compared to its average volume of 2,409,451. The company has a market cap of £2.84 billion, a price-to-earnings ratio of 11.52, a price-to-earnings-growth ratio of 2.04 and a beta of 1.40. The company has a current ratio of 4.96, a quick ratio of 0.71 and a debt-to-equity ratio of 2.96. The firm has a fifty day moving average of GBX 94.58 and a 200 day moving average of GBX 101.52.

Taylor Wimpey (LON:TW - Get Free Report) last issued its earnings results on Thursday, March 5th. The homebuilder reported GBX 8 earnings per share for the quarter. Taylor Wimpey had a return on equity of 2.40% and a net margin of 2.61%. As a group, analysts forecast that Taylor Wimpey will post 9.8339265 EPS for the current fiscal year.

Taylor Wimpey announced that its Board of Directors has approved a stock buyback plan on Thursday, March 5th that permits the company to repurchase 0 shares. This repurchase authorization permits the homebuilder to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its stock is undervalued.

Insider Activity at Taylor Wimpey

In other news, insider Chris Carney purchased 90,361 shares of the stock in a transaction that occurred on Wednesday, March 25th. The stock was acquired at an average price of GBX 86 per share, with a total value of £77,710.46. Also, insider Jennie Daly purchased 139,270 shares of the stock in a transaction that occurred on Wednesday, March 25th. The stock was purchased at an average cost of GBX 86 per share, with a total value of £119,772.20. In the last three months, insiders purchased 230,222 shares of company stock valued at $19,808,326. 0.87% of the stock is currently owned by company insiders.

Taylor Wimpey Company Profile

Taylor Wimpey plc operates as a homebuilder in the United Kingdom and Spain. It builds and delivers various homes and communities. Taylor Wimpey plc was incorporated in 1935 and is based in High Wycombe, the United Kingdom.

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