BTIG Research Lowers D.R. Horton (NYSE:DHI) Price Target to $186.00

D.R. Horton (NYSE:DHI) had its price objective trimmed by BTIG Research from $190.00 to $186.00 in a research note published on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the construction company’s stock.

A number of other analysts also recently commented on the company. Wells Fargo & Company reduced their price objective on D.R. Horton from $220.00 to $190.00 and set an “overweight” rating for the company in a research report on Wednesday. Evercore ISI decreased their price objective on shares of D.R. Horton from $218.00 to $204.00 and set an “outperform” rating on the stock in a research note on Wednesday. Wedbush upgraded shares of D.R. Horton from an “underperform” rating to a “neutral” rating and set a $165.00 price objective for the company in a research report on Tuesday, October 15th. Barclays lifted their price target on shares of D.R. Horton from $168.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. Finally, Bank of America raised their price target on D.R. Horton from $196.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $185.33.

D.R. Horton Stock Performance

Shares of DHI opened at $167.61 on Wednesday. The company has a market capitalization of $54.61 billion, a PE ratio of 11.67, a price-to-earnings-growth ratio of 0.57 and a beta of 1.72. The company has a debt-to-equity ratio of 0.23, a current ratio of 7.32 and a quick ratio of 1.30. D.R. Horton has a one year low of $111.59 and a one year high of $199.85. The company’s fifty day moving average price is $186.47 and its 200 day moving average price is $165.31.

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 the consensus estimate of $4.17 by ($0.25). 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 12.93% and a return on equity of 19.24%. D.R. Horton’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.45 EPS. As a group, analysts expect that D.R. Horton will post 15.87 earnings per share for the current year.

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

D.R. Horton Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 12th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.95%. The ex-dividend date is Tuesday, November 12th. This is an increase from D.R. Horton’s previous quarterly dividend of $0.30. D.R. Horton’s dividend payout ratio is presently 8.36%.

Hedge Funds Weigh In On D.R. Horton

A number of institutional investors have recently bought and sold shares of DHI. Covestor Ltd boosted its stake in shares of D.R. Horton by 6.6% during the 3rd quarter. Covestor Ltd now owns 1,064 shares of the construction company’s stock worth $203,000 after acquiring an additional 66 shares during the period. Atria Investments Inc raised its stake in D.R. Horton by 6.4% in the 3rd quarter. Atria Investments Inc now owns 58,847 shares of the construction company’s stock valued at $11,226,000 after acquiring an additional 3,544 shares during the period. Demars Financial Group LLC lifted its holdings in D.R. Horton by 3.5% during the 3rd quarter. Demars Financial Group LLC now owns 2,197 shares of the construction company’s stock valued at $419,000 after purchasing an additional 74 shares during the last quarter. Assetmark Inc. boosted its position in D.R. Horton by 4.4% during the third quarter. Assetmark Inc. now owns 460,114 shares of the construction company’s stock worth $87,776,000 after purchasing an additional 19,511 shares during the period. Finally, Verdence Capital Advisors LLC increased its holdings in shares of D.R. Horton by 4.8% in the third quarter. Verdence Capital Advisors LLC now owns 2,959 shares of the construction company’s stock valued at $564,000 after purchasing an additional 136 shares during the last quarter. Institutional investors and hedge funds 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.