Taylor Morrison Home (TMHC) Sets New 12-Month Low at $18.70

Taylor Morrison Home Corp (NYSE:TMHC) shares hit a new 52-week low on Friday . The company traded as low as $18.70 and last traded at $19.21, with a volume of 42345 shares changing hands. The stock had previously closed at $18.80.

TMHC has been the topic of a number of research analyst reports. Royal Bank of Canada initiated coverage on shares of Taylor Morrison Home in a research report on Wednesday, June 27th. They set a “sector perform” rating on the stock. Zacks Investment Research downgraded shares of Taylor Morrison Home from a “buy” rating to a “hold” rating in a research report on Saturday, July 7th. Wells Fargo & Co set a $34.00 price objective on shares of Taylor Morrison Home and gave the company a “buy” rating in a research report on Friday, June 8th. ValuEngine upgraded shares of Taylor Morrison Home from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 4th. Finally, Susquehanna Bancshares lowered their price objective on shares of Taylor Morrison Home from $34.00 to $30.00 and set a “positive” rating on the stock in a research report on Thursday, August 2nd. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $27.75.

The firm has a market cap of $2.20 billion, a P/E ratio of 9.85, a P/E/G ratio of 0.64 and a beta of 1.28. The company has a current ratio of 6.86, a quick ratio of 0.88 and a debt-to-equity ratio of 0.63.

Taylor Morrison Home (NYSE:TMHC) last announced its earnings results on Wednesday, August 1st. The construction company reported $0.52 EPS for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.04. Taylor Morrison Home had a net margin of 3.97% and a return on equity of 8.60%. The business had revenue of $980.83 million during the quarter, compared to analysts’ expectations of $923.15 million. During the same period in the prior year, the company earned $0.46 earnings per share. The firm’s revenue was up 8.0% on a year-over-year basis. analysts predict that Taylor Morrison Home Corp will post 2.6 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the business. Legacy Financial Advisors Inc. purchased a new stake in Taylor Morrison Home during the second quarter valued at approximately $144,000. First Mercantile Trust Co. purchased a new stake in shares of Taylor Morrison Home in the second quarter worth $157,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Taylor Morrison Home by 48.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,062 shares of the construction company’s stock worth $164,000 after purchasing an additional 2,314 shares in the last quarter. Cambria Investment Management L.P. purchased a new stake in shares of Taylor Morrison Home in the first quarter worth $205,000. Finally, First Interstate Bank increased its stake in shares of Taylor Morrison Home by 36.8% in the second quarter. First Interstate Bank now owns 11,015 shares of the construction company’s stock worth $229,000 after purchasing an additional 2,965 shares in the last quarter. 99.02% of the stock is owned by institutional investors and hedge funds.

Taylor Morrison Home Company Profile (NYSE:TMHC)

Taylor Morrison Home Corporation operates as a public homebuilder in the United States. The company designs, builds, and sells single-family detached and attached homes; and develops lifestyle and master-planned communities. It operates under the Taylor Morrison and Darling Homes brand names in Arizona, California, Colorado, Florida, Georgia, Illinois, North Carolina and Texas.

Further Reading: Leveraged Buyout (LBO) Explained

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