Royal Bank of Canada Raises D.R. Horton (NYSE:DHI) Price Target to $154.00

D.R. Horton (NYSE:DHI) had its price objective boosted by Royal Bank of Canada from $141.00 to $154.00 in a report issued on Friday, Benzinga reports. Royal Bank of Canada currently has an underperform rating on the construction company’s stock.

DHI has been the topic of several other reports. Citigroup lowered 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. Bank of America reduced their target price on D.R. Horton from $182.00 to $168.00 and set a buy rating on the stock in a report on Friday, April 19th. Barclays reduced their target price on D.R. Horton from $176.00 to $168.00 and set an overweight rating on the stock in a report on Friday, July 12th. StockNews.com lowered D.R. Horton from a buy rating to a hold rating in a report on Thursday, May 23rd. Finally, Jefferies Financial Group boosted their price target on D.R. Horton from $141.00 to $153.00 and gave the company a hold rating in a report on Friday, April 19th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $171.27.

D.R. Horton Stock Up 1.9 %

NYSE:DHI opened at $177.21 on Friday. D.R. Horton has a 12-month low of $100.08 and a 12-month high of $178.01. The company has a quick ratio of 1.38, a current ratio of 7.22 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $58.36 billion, a P/E ratio of 12.06, a P/E/G ratio of 0.86 and a beta of 1.71. The stock’s fifty day simple moving average is $145.96 and its 200-day simple moving average is $148.52.

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

D.R. Horton Announces Dividend

The business also recently announced 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. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date of this dividend is Thursday, August 1st. D.R. Horton’s dividend payout ratio is currently 8.17%.

D.R. Horton announced that its board has initiated a share repurchase plan on Thursday, July 18th that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the construction company to buy up to 6.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Insider Activity at D.R. Horton

In other D.R. Horton news, Director Michael R. Buchanan sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $150.70, for a total transaction of $301,400.00. Following the transaction, the director now owns 1,703 shares of the company’s stock, valued at $256,642.10. The sale was disclosed in a document filed with the SEC, which is available through this link. 1.74% of the stock is owned by company insiders.

Hedge Funds Weigh In On D.R. Horton

A number of institutional investors have recently bought and sold shares of the business. Pacific Wealth Strategies Group Inc. increased its position in D.R. Horton by 2.9% during the second quarter. Pacific Wealth Strategies Group Inc. now owns 4,545 shares of the construction company’s stock worth $641,000 after buying an additional 129 shares during the last quarter. Argus Investors Counsel Inc. acquired a new position in D.R. Horton during the second quarter worth approximately $456,000. Investment House LLC increased its position in D.R. Horton by 177.7% during the second quarter. Investment House LLC now owns 35,649 shares of the construction company’s stock worth $5,024,000 after buying an additional 22,810 shares during the last quarter. Commerzbank Aktiengesellschaft FI boosted its holdings in shares of D.R. Horton by 5.4% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 1,433 shares of the construction company’s stock worth $202,000 after acquiring an additional 74 shares during the period. Finally, Focus Financial Network Inc. boosted its holdings in shares of D.R. Horton by 4.9% during the second quarter. Focus Financial Network Inc. now owns 2,984 shares of the construction company’s stock worth $421,000 after acquiring an additional 140 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.