Wells Fargo & Company Issues Pessimistic Forecast for D.R. Horton (NYSE:DHI) Stock Price

D.R. Horton (NYSE:DHI) had its price objective dropped by research analysts at Wells Fargo & Company from $220.00 to $190.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the construction company’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 11.05% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Bank of America increased their price target on shares of D.R. Horton from $196.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Wedbush upgraded D.R. Horton from an “underperform” rating to a “neutral” rating and set a $165.00 target price on the stock in a research note on Tuesday, October 15th. JPMorgan Chase & Co. boosted their price target on D.R. Horton from $163.00 to $180.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 23rd. Citigroup cut D.R. Horton from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $181.00 to $156.00 in a research report on Tuesday, July 2nd. Finally, UBS Group boosted their target price on D.R. Horton from $200.00 to $217.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $183.40.

D.R. Horton Stock Up 2.3 %

DHI traded up $3.78 during trading on Wednesday, reaching $171.10. The stock had a trading volume of 1,446,183 shares, compared to its average volume of 2,465,157. 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 company has a market capitalization of $56.35 billion, a price-to-earnings ratio of 11.59, a P/E/G ratio of 0.78 and a beta of 1.72. The stock’s 50 day moving average is $187.63 and its two-hundred day moving average is $165.12. D.R. Horton has a one year low of $102.23 and a one year high of $199.85.

D.R. Horton (NYSE:DHI) last announced its earnings results on Tuesday, October 29th. The construction company reported $3.92 earnings per share for the quarter, missing analysts’ consensus estimates of $4.20 by ($0.28). The business had revenue of $10 billion for the quarter, compared to the consensus estimate of $10.22 billion. D.R. Horton had a net margin of 13.36% and a return on equity of 20.72%. D.R. Horton’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same period in the prior year, the business posted $4.45 EPS. As a group, analysts expect that D.R. Horton will post 14.03 earnings per share for the current year.

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

Institutional Trading of D.R. Horton

Large investors have recently modified their holdings of the company. Legacy CG LLC bought a new position in shares of D.R. Horton during the 3rd quarter worth $4,220,000. Impax Asset Management Group plc bought a new position in D.R. Horton in the third quarter worth approximately $4,260,000. PDS Planning Inc purchased a new stake in D.R. Horton during the third quarter worth $222,000. Asset Management One Co. Ltd. lifted its stake in shares of D.R. Horton by 2.4% during the 3rd quarter. Asset Management One Co. Ltd. now owns 117,316 shares of the construction company’s stock worth $22,380,000 after purchasing an additional 2,712 shares during the last quarter. Finally, National Pension Service grew its stake in D.R. Horton by 6.0% in the third quarter. National Pension Service now owns 1,108,703 shares of the construction company’s stock valued at $211,507,000 after purchasing an additional 62,971 shares during the last quarter. Hedge funds and other institutional investors own 90.63% of the company’s stock.

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.