D.R. Horton (NYSE:DHI) PT Raised to $210.00

D.R. Horton (NYSE:DHI) had its price objective raised by JMP Securities from $170.00 to $210.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have a market outperform rating on the construction company’s stock.

A number of other equities analysts have also weighed in on the stock. StockNews.com lowered shares of D.R. Horton from a buy rating to a hold rating in a research report on Thursday, May 23rd. Wedbush restated an underperform rating and set a $130.00 target price on shares of D.R. Horton in a research report on Thursday, April 18th. Evercore ISI boosted their target price on shares of D.R. Horton from $191.00 to $205.00 and gave the stock an outperform rating in a research report on Monday, July 15th. BTIG Research decreased their target price on shares of D.R. Horton from $174.00 to $169.00 and set a buy rating on the stock in a research report on Tuesday, April 16th. Finally, Bank of America decreased their target price on shares of D.R. Horton from $182.00 to $168.00 and set a buy rating on the stock in a research report on Friday, April 19th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $171.27.

D.R. Horton Stock Performance

NYSE:DHI opened at $177.21 on Friday. The firm’s fifty day moving average price is $145.96 and its 200 day moving average price is $148.52. D.R. Horton has a 1-year low of $100.08 and a 1-year high of $178.01. The company has a debt-to-equity ratio of 0.23, a current ratio of 7.22 and a quick ratio of 1.38. The firm has a market cap of $58.36 billion, a price-to-earnings ratio of 12.06, a price-to-earnings-growth ratio of 0.86 and a beta of 1.71.

D.R. Horton (NYSE:DHI) last posted 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 last year, the firm posted $3.90 EPS. D.R. Horton’s quarterly revenue was up 2.5% on a year-over-year basis. On average, sell-side analysts expect that D.R. Horton will post 14.39 EPS for the current year.

D.R. Horton declared that its Board of Directors has authorized a stock repurchase plan on Thursday, July 18th that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the construction company to buy up to 6.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.

D.R. Horton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Thursday, August 1st will be given a $0.30 dividend. The ex-dividend date is Thursday, August 1st. This represents a $1.20 annualized dividend and a dividend yield of 0.68%. D.R. Horton’s dividend payout ratio is presently 8.17%.

Insider Activity at D.R. Horton

In related news, Director Michael R. Buchanan sold 2,000 shares of the business’s 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 transaction, the director now owns 1,703 shares of the company’s stock, valued at approximately $256,642.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.74% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of D.R. Horton by 7.6% during 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 acquiring an additional 2,474,262 shares during the last quarter. Greenhaven Associates Inc. lifted its holdings in shares of D.R. Horton by 2.3% during the 2nd quarter. Greenhaven Associates Inc. now owns 3,669,893 shares of the construction company’s stock worth $517,198,000 after acquiring an additional 81,900 shares during the period. Norges Bank purchased a new position in shares of D.R. Horton during the 4th quarter worth about $516,530,000. Pacer Advisors Inc. lifted its holdings in shares of D.R. Horton by 21.7% during the 4th quarter. Pacer Advisors Inc. now owns 2,714,195 shares of the construction company’s stock worth $412,503,000 after acquiring an additional 484,058 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in shares of D.R. Horton by 12.5% during the 4th quarter. Franklin Resources Inc. now owns 2,345,398 shares of the construction company’s stock worth $356,454,000 after acquiring an additional 260,864 shares during the period. Institutional investors and hedge funds own 90.63% of the company’s stock.

About D.R. Horton

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.