Wells Fargo & Company Cuts D.R. Horton (NYSE:DHI) Price Target to $175.00

D.R. Horton (NYSE:DHI) had its target price cut by equities researchers at Wells Fargo & Company from $190.00 to $175.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the construction company’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 17.79% from the stock’s previous close.

A number of other research firms have also weighed in on DHI. Citigroup decreased their target price on shares of D.R. Horton from $186.00 to $185.00 and set a “neutral” rating on the stock in a report on Wednesday, October 30th. Raymond James downgraded shares of D.R. Horton from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 7th. Royal Bank of Canada reduced their target price on shares of D.R. Horton from $154.00 to $145.00 and set an “underperform” rating on the stock in a research report on Wednesday, October 30th. Evercore ISI reduced their target price 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, October 30th. Finally, Keefe, Bruyette & Woods cut shares of D.R. Horton from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $200.00 to $183.00 in a research note on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $179.60.

D.R. Horton Stock Performance

D.R. Horton stock traded up $0.96 during mid-day trading on Tuesday, reaching $148.57. 731,961 shares of the company’s stock were exchanged, compared to its average volume of 2,512,866. D.R. Horton has a one year low of $133.02 and a one year high of $199.85. The business’s fifty day simple moving average is $170.27 and its 200 day simple moving average is $169.17. The company has a quick ratio of 1.61, a current ratio of 7.32 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $47.72 billion, a PE ratio of 10.35, a P/E/G ratio of 0.57 and a beta of 1.71.

D.R. Horton (NYSE:DHI) last announced its quarterly earnings results on Tuesday, October 29th. The construction company reported $3.92 EPS for the quarter, missing analysts’ consensus estimates of $4.17 by ($0.25). The business had revenue of $10 billion for the quarter, compared to analysts’ expectations of $10.22 billion. D.R. Horton had a net margin of 12.93% and a return on equity of 19.24%. The business’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.45 earnings per share. On average, sell-side analysts expect that D.R. Horton will post 14.17 earnings per share for the current year.

Insider Transactions at D.R. Horton

In other news, Director Barbara K. Allen sold 5,650 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $163.10, for a total transaction of $921,515.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.74% of the company’s stock.

Hedge Funds Weigh In On D.R. Horton

Several institutional investors and hedge funds have recently added to or reduced their stakes in DHI. Mountaineer Partners Management LLC purchased a new stake in shares of D.R. Horton during the third quarter worth about $1,853,178,000. FMR LLC increased its position in shares of D.R. Horton by 44.7% during the third quarter. FMR LLC now owns 7,906,129 shares of the construction company’s stock worth $1,508,252,000 after purchasing an additional 2,442,581 shares in the last quarter. Geode Capital Management LLC increased its position in shares of D.R. Horton by 0.3% during the third quarter. Geode Capital Management LLC now owns 7,107,912 shares of the construction company’s stock worth $1,351,435,000 after purchasing an additional 21,073 shares in the last quarter. Smead Capital Management Inc. grew its holdings in D.R. Horton by 3.5% in the 3rd quarter. Smead Capital Management Inc. now owns 2,516,673 shares of the construction company’s stock valued at $480,106,000 after buying an additional 84,835 shares in the last quarter. Finally, Earnest Partners LLC grew its holdings in shares of D.R. Horton by 0.4% during the 2nd quarter. Earnest Partners LLC now owns 2,064,149 shares of the construction company’s stock worth $290,901,000 after purchasing an additional 9,137 shares during the period. 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.