D.R. Horton (NYSE:DHI) Price Target Raised to $215.00

D.R. Horton (NYSE:DHI) had its price objective raised by Bank of America from $196.00 to $215.00 in a report published on Thursday morning, Benzinga reports. Bank of America currently has a buy rating on the construction company’s stock.

Several other research firms have also commented on DHI. Citigroup lowered shares of D.R. Horton from a buy rating to a neutral rating and decreased their target price for the company from $181.00 to $156.00 in a report on Tuesday, July 2nd. StockNews.com lowered 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 objective on shares of D.R. Horton from $191.00 to $205.00 and gave the company an outperform rating in a research note on Monday, July 15th. Royal Bank of Canada upped their price target on shares of D.R. Horton from $141.00 to $154.00 and gave the stock an underperform rating in a report on Friday, July 19th. Finally, UBS Group boosted their price target on D.R. Horton from $200.00 to $217.00 and gave the stock a buy rating in a report on Friday, July 19th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, D.R. Horton currently has an average rating of Hold and an average price target of $183.33.

D.R. Horton Stock Performance

DHI opened at $191.89 on Thursday. The company has a debt-to-equity ratio of 0.23, a current ratio of 7.22 and a quick ratio of 1.30. The business has a fifty day simple moving average of $180.71 and a 200 day simple moving average of $159.41. D.R. Horton has a 1 year low of $100.08 and a 1 year high of $199.85. The company has a market capitalization of $63.19 billion, a PE ratio of 13.06, a price-to-earnings-growth ratio of 0.86 and a beta of 1.73.

D.R. Horton (NYSE:DHI) last released its quarterly earnings results on Thursday, July 18th. The construction company reported $4.10 earnings per share for the quarter, beating analysts’ consensus estimates of $3.75 by $0.35. The company had revenue of $9.97 billion during the quarter, compared to the consensus estimate of $9.61 billion. D.R. Horton had a net margin of 13.36% and a return on equity of 20.72%. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the business earned $3.90 earnings per share. Research analysts expect that D.R. Horton will post 14.03 EPS for the current year.

D.R. Horton Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 8th. Shareholders of record on Thursday, August 1st were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $1.20 annualized dividend and a yield of 0.63%. D.R. Horton’s payout ratio is 8.17%.

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

Institutional Investors Weigh In On D.R. Horton

Several institutional investors have recently bought and sold shares of DHI. Concurrent Investment Advisors LLC purchased a new stake in shares of D.R. Horton during the 1st quarter valued at $1,249,000. Vinva Investment Management Ltd lifted its position in shares of D.R. Horton by 59.3% during the 4th quarter. Vinva Investment Management Ltd now owns 81,125 shares of the construction company’s stock valued at $12,537,000 after buying an additional 30,186 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its position in shares of D.R. Horton by 85.9% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 35,167 shares of the construction company’s stock valued at $5,787,000 after buying an additional 16,252 shares during the last quarter. Alaska Permanent Fund Corp lifted its position in shares of D.R. Horton by 312.0% during the 1st quarter. Alaska Permanent Fund Corp now owns 11,755 shares of the construction company’s stock valued at $1,934,000 after buying an additional 8,902 shares during the last quarter. Finally, Stifel Financial Corp lifted its position in shares of D.R. Horton by 18.1% during the 4th quarter. Stifel Financial Corp now owns 94,924 shares of the construction company’s stock valued at $14,429,000 after buying an additional 14,573 shares during the last quarter. Institutional investors 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.