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

D.R. Horton (NYSE:DHI) had its price objective boosted by Bank of America from $168.00 to $196.00 in a report published on Monday morning, Benzinga reports. The firm currently has a buy rating on the construction company’s stock.

DHI has been the subject of several other research reports. StockNews.com downgraded shares of D.R. Horton from a buy rating to a hold rating in a report on Thursday, May 23rd. Evercore ISI increased their price target on D.R. Horton from $191.00 to $205.00 and gave the company an outperform rating in a research note on Monday, July 15th. UBS Group lifted their price objective on D.R. Horton from $200.00 to $217.00 and gave the stock a buy rating in a research note on Friday, July 19th. Jefferies Financial Group increased their target price on D.R. Horton from $141.00 to $153.00 and gave the company a hold rating in a research report on Friday, April 19th. Finally, Citigroup cut shares of D.R. Horton from a buy rating to a neutral rating and reduced their price target for the stock from $181.00 to $156.00 in a research report on Tuesday, July 2nd. Two 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 stock. According to MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $175.60.

D.R. Horton Trading Down 3.1 %

Shares of D.R. Horton stock opened at $171.07 on Monday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.30 and a current ratio of 7.22. The company has a fifty day moving average of $146.80 and a 200 day moving average of $148.87. The company has a market capitalization of $56.34 billion, a P/E ratio of 11.65, a P/E/G ratio of 0.80 and a beta of 1.71. D.R. Horton has a fifty-two week low of $100.08 and a fifty-two week high of $178.71.

D.R. Horton (NYSE:DHI) last released its 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 firm 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 earnings per share. The firm’s revenue was up 2.5% on a year-over-year basis. On average, sell-side analysts anticipate that D.R. Horton will post 14.43 earnings per share for the current fiscal year.

D.R. Horton declared that its board has initiated a share buyback plan on Thursday, July 18th that allows the company to buyback $4.00 billion in shares. This buyback authorization allows the construction company to buy up to 6.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

D.R. Horton Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Thursday, August 1st will be issued a $0.30 dividend. The ex-dividend date of this dividend is Thursday, August 1st. This represents a $1.20 annualized dividend and a dividend yield of 0.70%. D.R. Horton’s payout ratio is 8.17%.

Insider Activity 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 sale, the director now owns 1,703 shares in the company, valued at $256,642.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.74% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Premier Path Wealth Partners LLC grew its stake in D.R. Horton by 1.0% in the 2nd quarter. Premier Path Wealth Partners LLC now owns 6,186 shares of the construction company’s stock worth $872,000 after acquiring an additional 59 shares in the last quarter. Values First Advisors Inc. grew its stake in D.R. Horton by 0.7% in the second quarter. Values First Advisors Inc. now owns 8,878 shares of the construction company’s stock worth $1,251,000 after purchasing an additional 66 shares in the last quarter. Everpar Advisors LLC increased its holdings in D.R. Horton by 4.4% during the 2nd quarter. Everpar Advisors LLC now owns 1,669 shares of the construction company’s stock worth $235,000 after purchasing an additional 71 shares during the period. First Horizon Advisors Inc. raised its position in D.R. Horton by 5.3% during the 2nd quarter. First Horizon Advisors Inc. now owns 1,417 shares of the construction company’s stock valued at $200,000 after purchasing an additional 71 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI lifted its holdings in shares of D.R. Horton by 5.4% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 1,433 shares of the construction company’s stock worth $202,000 after buying an additional 74 shares during the period. 90.63% of the stock is currently owned by institutional investors.

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.