Keefe, Bruyette & Woods Boosts D.R. Horton (NYSE:DHI) Price Target to $208.00

D.R. Horton (NYSE:DHI) had its price objective upped by Keefe, Bruyette & Woods from $178.00 to $208.00 in a report issued on Tuesday morning, Benzinga reports. They currently have an outperform rating on the construction company’s stock.

Several other research firms have also commented on DHI. Barclays increased their target price on D.R. Horton from $168.00 to $200.00 and gave the company an overweight rating in a report on Friday, July 19th. StockNews.com cut D.R. Horton from a buy rating to a hold rating in a research note on Thursday, May 23rd. UBS Group upped their price target on D.R. Horton from $200.00 to $217.00 and gave the company a buy rating in a report on Friday, July 19th. Royal Bank of Canada boosted their price target on shares of D.R. Horton from $141.00 to $154.00 and gave the company an underperform rating in a research report on Friday, July 19th. Finally, BTIG Research decreased their price objective on D.R. Horton from $174.00 to $169.00 and set a buy rating for the company in a report on Tuesday, April 16th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, D.R. Horton presently has an average rating of Hold and an average target price of $175.60.

D.R. Horton Stock Up 1.0 %

Shares of NYSE DHI opened at $172.70 on Tuesday. D.R. Horton has a 12-month low of $100.08 and a 12-month high of $178.71. The stock has a market cap of $56.87 billion, a P/E ratio of 11.76, a PEG ratio of 0.79 and a beta of 1.71. The company has a current ratio of 7.22, a quick ratio of 1.30 and a debt-to-equity ratio of 0.23. The business’s fifty day simple moving average is $147.24 and its 200-day simple moving average is $149.04.

D.R. Horton (NYSE:DHI) last announced its quarterly earnings data on Thursday, July 18th. The construction company reported $4.10 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $9.61 billion. During the same quarter last year, the business posted $3.90 EPS. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. As a group, equities analysts predict that D.R. Horton will post 14.44 EPS for the current fiscal year.

D.R. Horton Announces Dividend

The company 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 of this dividend is Thursday, August 1st. This represents a $1.20 dividend on an annualized basis and a yield of 0.69%. D.R. Horton’s payout ratio is currently 8.17%.

D.R. Horton declared that its board has initiated a stock buyback program on Thursday, July 18th that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the construction company to reacquire up to 6.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its stock is undervalued.

Insider Transactions at D.R. Horton

In other D.R. Horton news, Director Michael R. Buchanan sold 2,000 shares of the stock in a transaction on Monday, May 6th. The stock was 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 in the company, valued at $256,642.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.74% of the company’s stock.

Hedge Funds Weigh In On D.R. Horton

A number of institutional investors and hedge funds have recently made changes to their positions in DHI. Overbrook Management Corp grew its position in D.R. Horton by 13.6% during the second quarter. Overbrook Management Corp now owns 55,692 shares of the construction company’s stock worth $7,849,000 after buying an additional 6,647 shares during the period. Spirit of America Management Corp NY acquired a new stake in shares of D.R. Horton in the 2nd quarter worth approximately $141,000. Bank Pictet & Cie Europe AG acquired a new stake in D.R. Horton in the second quarter valued at $37,613,000. Banque Pictet & Cie SA boosted its position in shares of D.R. Horton by 592.4% in the 2nd quarter. Banque Pictet & Cie SA now owns 402,923 shares of the construction company’s stock worth $56,784,000 after buying an additional 344,731 shares in the last quarter. Finally, Atlantic Union Bankshares Corp grew its stake in D.R. Horton by 25.7% in the 2nd quarter. Atlantic Union Bankshares Corp now owns 60,014 shares of the construction company’s stock valued at $8,458,000 after acquiring an additional 12,253 shares during the last quarter. 90.63% of the stock is 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.