Wells Fargo & Company Cuts D.R. Horton (NYSE:DHI) Price Target to $190.00

D.R. Horton (NYSE:DHI) had its target price cut by Wells Fargo & Company from $220.00 to $190.00 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have an overweight rating on the construction company’s stock.

A number of other analysts have also recently commented on DHI. Wedbush raised shares of D.R. Horton from an “underperform” rating to a “neutral” rating and set a $165.00 target price for the company in a research note on Tuesday, October 15th. Bank of America increased their target price on D.R. Horton from $196.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Evercore ISI lifted their price target on D.R. Horton from $191.00 to $205.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. JPMorgan Chase & Co. raised their price objective on D.R. Horton from $163.00 to $180.00 and gave the company a “neutral” rating in a report on Tuesday, July 23rd. Finally, Keefe, Bruyette & Woods upped their target price on shares of D.R. Horton from $178.00 to $208.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, D.R. Horton currently has a consensus rating of “Moderate Buy” and an average target price of $185.33.

D.R. Horton Stock Down 0.8 %

DHI opened at $167.61 on Wednesday. D.R. Horton has a fifty-two week low of $111.59 and a fifty-two week high of $199.85. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.30 and a current ratio of 7.32. The stock has a market capitalization of $54.61 billion, a price-to-earnings ratio of 11.67, a PEG ratio of 0.57 and a beta of 1.72. The company has a fifty day moving average of $186.47 and a two-hundred day moving average of $165.31.

D.R. Horton (NYSE:DHI) last posted its quarterly earnings data on Tuesday, October 29th. The construction company reported $3.92 EPS for the quarter, missing analysts’ consensus estimates of $4.17 by ($0.25). D.R. Horton had a net margin of 12.93% and a return on equity of 19.24%. The business had revenue of $10 billion during the quarter, compared to analysts’ expectations of $10.22 billion. During the same quarter last year, the firm earned $4.45 earnings per share. The firm’s quarterly revenue was down 4.7% compared to the same quarter last year. On average, research analysts expect that D.R. Horton will post 15.87 earnings per share for the current year.

D.R. Horton Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 12th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.95%. This is a positive change from D.R. Horton’s previous quarterly dividend of $0.30. The ex-dividend date is Tuesday, November 12th. D.R. Horton’s dividend payout ratio (DPR) is presently 8.36%.

D.R. Horton declared that its Board of Directors has approved a share repurchase program on Thursday, July 18th that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the construction company to buy up to 6.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Institutional Trading of D.R. Horton

A number of hedge funds and other institutional investors have recently bought and sold shares of DHI. Bfsg LLC raised its stake in D.R. Horton by 70.5% during the 2nd quarter. Bfsg LLC now owns 179 shares of the construction company’s stock worth $25,000 after acquiring an additional 74 shares in the last quarter. RiverPark Advisors LLC acquired a new position in D.R. Horton during the first quarter worth approximately $29,000. Signature Resources Capital Management LLC purchased a new stake in D.R. Horton in the second quarter valued at approximately $31,000. Wolff Wiese Magana LLC boosted its holdings in shares of D.R. Horton by 1,306.7% in the third quarter. Wolff Wiese Magana LLC now owns 211 shares of the construction company’s stock valued at $40,000 after acquiring an additional 196 shares during the period. Finally, Grove Bank & Trust grew its position in shares of D.R. Horton by 76.2% during the third quarter. Grove Bank & Trust now owns 215 shares of the construction company’s stock worth $41,000 after acquiring an additional 93 shares during the last quarter. 90.63% of the stock is currently owned by institutional investors and hedge funds.

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.