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

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

DHI has been the topic of several other reports. 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. Jefferies Financial Group upped their price target on shares of D.R. Horton from $141.00 to $153.00 and gave the company a hold rating in a report on Friday, April 19th. StockNews.com downgraded shares of D.R. Horton from a buy rating to a hold rating in a report on Thursday, May 23rd. Citigroup downgraded shares of D.R. Horton from a buy rating to a neutral rating and reduced their price target for the company from $181.00 to $156.00 in a report on Tuesday, July 2nd. Finally, BTIG Research reduced their price target on shares of D.R. Horton from $174.00 to $169.00 and set a buy rating on the stock in a report on Tuesday, April 16th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, D.R. Horton has an average rating of Hold and an average target price of $175.60.

D.R. Horton Trading Up 1.0 %

Shares of D.R. Horton stock opened at $172.70 on Monday. The company has a quick ratio of 1.30, a current ratio of 7.22 and a debt-to-equity ratio of 0.23. The company’s 50-day simple moving average is $147.24 and its 200-day simple moving average is $149.04. D.R. Horton has a 52-week low of $100.08 and a 52-week high of $178.71. The firm has a market cap of $56.87 billion, a price-to-earnings ratio of 11.76, a price-to-earnings-growth ratio of 0.79 and a beta of 1.71.

D.R. Horton (NYSE:DHI) last issued its earnings results on Thursday, July 18th. The construction company reported $4.10 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $9.97 billion for the quarter, compared to analyst estimates of $9.61 billion. During the same period in the prior year, the business posted $3.90 earnings per share. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. As a group, equities research analysts anticipate that D.R. Horton will post 14.44 earnings per share for the current year.

D.R. Horton announced that its board has initiated a stock repurchase program on Thursday, July 18th that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the construction company to reacquire up to 6.9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

D.R. Horton Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Thursday, August 1st will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend is Thursday, August 1st. D.R. Horton’s payout ratio is currently 8.17%.

Insider Transactions at D.R. Horton

In related news, Director Michael R. Buchanan sold 2,000 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $150.70, for a total transaction of $301,400.00. Following the completion of the sale, the director now directly owns 1,703 shares of the company’s stock, valued at approximately $256,642.10. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.74% of the company’s stock.

Institutional Investors Weigh In On D.R. Horton

A number of large investors have recently added to or reduced their stakes in DHI. Mutual Advisors LLC acquired a new stake in D.R. Horton during the 4th quarter valued at $219,000. HB Wealth Management LLC boosted its stake in D.R. Horton by 2.9% during the 4th quarter. HB Wealth Management LLC now owns 8,648 shares of the construction company’s stock valued at $1,314,000 after acquiring an additional 245 shares during the last quarter. Wealthsource Partners LLC boosted its stake in D.R. Horton by 2.7% during the 4th quarter. Wealthsource Partners LLC now owns 2,926 shares of the construction company’s stock valued at $445,000 after acquiring an additional 78 shares during the last quarter. CoreCap Advisors LLC bought a new position in D.R. Horton during the 4th quarter valued at $317,000. Finally, CHICAGO TRUST Co NA bought a new position in D.R. Horton during the 4th quarter valued at $274,000. 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.