Bank of America Increases D.R. Horton (NYSE:DHI) Price Target to $196.00

D.R. Horton (NYSE:DHI) had its price objective lifted by investment analysts at Bank of America from $168.00 to $196.00 in a report released on Monday, Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. Bank of America‘s price objective would indicate a potential upside of 11.01% from the stock’s previous close.

A number of other research firms have also issued reports on DHI. Wedbush reissued an “underperform” rating and set a $130.00 price target on shares of D.R. Horton in a research report on Thursday, April 18th. Citigroup cut shares of D.R. Horton from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $181.00 to $156.00 in a report on Tuesday, July 2nd. JMP Securities upped their price target on shares of D.R. Horton from $170.00 to $210.00 and gave the company a “market outperform” rating in a report on Friday, July 19th. Royal Bank of Canada lifted their price objective on D.R. Horton from $141.00 to $154.00 and gave the company an “underperform” rating in a research note on Friday, July 19th. Finally, StockNews.com downgraded D.R. Horton from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, D.R. Horton has a consensus rating of “Moderate Buy” and a consensus target price of $173.69.

D.R. Horton Stock Down 0.3 %

NYSE:DHI opened at $176.56 on Monday. The company has a current ratio of 7.22, a quick ratio of 1.30 and a debt-to-equity ratio of 0.23. D.R. Horton has a twelve month low of $100.08 and a twelve month high of $178.71. The company has a market cap of $58.14 billion, a PE ratio of 12.02, a P/E/G ratio of 0.86 and a beta of 1.71. The company’s 50 day moving average is $146.53 and its two-hundred day moving average is $148.72.

D.R. Horton (NYSE:DHI) last announced its quarterly earnings data on Thursday, July 18th. The construction company reported $4.10 earnings per share for the quarter, beating analysts’ consensus estimates of $3.75 by $0.35. D.R. Horton had a net margin of 13.36% and a return on equity of 20.72%. The firm had revenue of $9.97 billion for the quarter, compared to analyst estimates of $9.61 billion. During the same period in the previous year, the company earned $3.90 earnings per share. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. Analysts anticipate that D.R. Horton will post 14.39 EPS for the current year.

D.R. Horton announced that its Board of Directors has approved a share buyback plan on Thursday, July 18th that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the construction company to repurchase up to 6.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other D.R. Horton news, Director Michael R. Buchanan sold 2,000 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $150.70, for a total value of $301,400.00. Following the completion of the sale, the director now owns 1,703 shares in the company, valued at approximately $256,642.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.74% of the stock is currently owned by company insiders.

Institutional Trading of D.R. Horton

Hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank acquired a new position in shares of D.R. Horton in the 4th quarter valued at $516,530,000. Vanguard Group Inc. raised its holdings in D.R. Horton by 7.6% in the 1st quarter. Vanguard Group Inc. now owns 34,856,397 shares of the construction company’s stock valued at $5,735,620,000 after buying an additional 2,474,262 shares during the period. Assenagon Asset Management S.A. lifted its position in D.R. Horton by 1,761.6% in the second quarter. Assenagon Asset Management S.A. now owns 1,043,909 shares of the construction company’s stock valued at $147,118,000 after buying an additional 987,834 shares during the last quarter. Long Pond Capital LP raised its position in D.R. Horton by 438.6% in the first quarter. Long Pond Capital LP now owns 659,761 shares of the construction company’s stock valued at $108,564,000 after purchasing an additional 537,276 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in D.R. Horton by 62.4% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,367,704 shares of the construction company’s stock worth $207,864,000 after purchasing an additional 525,705 shares in the last quarter. Institutional investors and hedge funds own 90.63% of the company’s stock.

D.R. Horton Company Profile

D.R. Horton, Inc operates as a homebuilding company in East, North, Southeast, South Central, Southwest, and Northwest regions in the United States. It engages in the acquisition and development of land; and construction and sale of residential homes in 118 markets across 33 states under the names of D.R.