UBS Group Cuts D.R. Horton (NYSE:DHI) Price Target to $214.00

D.R. Horton (NYSE:DHI) had its target price reduced by UBS Group from $217.00 to $214.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. UBS Group’s target price would indicate a potential upside of 25.65% from the company’s previous close.

A number of other equities analysts have also commented on DHI. Evercore ISI reduced their price target on shares of D.R. Horton from $218.00 to $204.00 and set an “outperform” rating on the stock in a research report on Wednesday. Wedbush raised D.R. Horton from an “underperform” rating to a “neutral” rating and set a $165.00 price objective on the stock in a research note on Tuesday, October 15th. Bank of America lifted their price target on D.R. Horton from $196.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Citigroup lowered shares of D.R. Horton from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $181.00 to $156.00 in a report on Tuesday, July 2nd. Finally, Keefe, Bruyette & Woods upped their target price on shares of D.R. Horton from $178.00 to $208.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $183.40.

D.R. Horton Stock Performance

NYSE:DHI traded up $3.00 during midday trading on Wednesday, reaching $170.32. The stock had a trading volume of 1,749,092 shares, compared to its average volume of 2,466,600. D.R. Horton has a 1-year low of $102.23 and a 1-year high of $199.85. 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 stock has a market capitalization of $56.09 billion, a P/E ratio of 11.59, a PEG ratio of 0.78 and a beta of 1.72. The firm’s fifty day simple moving average is $187.63 and its 200-day simple moving average is $165.12.

D.R. Horton (NYSE:DHI) last issued its quarterly earnings results on Tuesday, October 29th. The construction company reported $3.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.20 by ($0.28). The firm 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%. The company’s revenue was down 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.45 earnings per share. On average, equities research analysts forecast that D.R. Horton will post 14.03 EPS for the current fiscal year.

D.R. Horton announced that its Board of Directors has initiated a stock repurchase 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 shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Institutional Trading of D.R. Horton

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Legacy CG LLC bought a new stake in D.R. Horton in the 3rd quarter valued at about $4,220,000. Impax Asset Management Group plc acquired a new position in D.R. Horton in the 3rd quarter valued at $4,260,000. PDS Planning Inc bought a new stake in shares of D.R. Horton during the 3rd quarter valued at $222,000. Asset Management One Co. Ltd. grew its holdings 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 in the last quarter. Finally, National Pension Service increased its position in shares of 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 worth $211,507,000 after purchasing an additional 62,971 shares during the period. 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.