D.R. Horton (NYSE:DHI) Given New $215.00 Price Target at Bank of America

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

Several other brokerages also recently weighed in on DHI. Evercore ISI lifted their target price on 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 objective 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. Keefe, Bruyette & Woods raised their target price on shares of D.R. Horton from $178.00 to $208.00 and gave the company an outperform rating in a research note on Tuesday, July 23rd. StockNews.com downgraded shares of D.R. Horton from a buy rating to a hold rating in a research report on Thursday, May 23rd. Finally, Wells Fargo & Company increased their price objective on shares of D.R. Horton from $210.00 to $220.00 and gave the company an overweight rating in a report on Monday, August 26th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of $183.33.

D.R. Horton Stock Down 2.6 %

D.R. Horton stock opened at $191.89 on Thursday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.30 and a current ratio of 7.22. D.R. Horton has a one year low of $100.08 and a one year high of $199.85. The company has a 50-day simple moving average of $180.71 and a 200-day simple moving average of $159.46. The firm has a market capitalization of $63.19 billion, a P/E ratio of 13.06, a P/E/G ratio of 0.86 and a beta of 1.73.

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

D.R. Horton declared that its Board of Directors has approved a stock repurchase program on Thursday, July 18th that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the construction company to purchase up to 6.9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

D.R. Horton Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 8th. Investors of record on Thursday, August 1st were paid a $0.30 dividend. The ex-dividend date was Thursday, August 1st. This represents a $1.20 dividend on an annualized basis and a yield of 0.63%. D.R. Horton’s dividend payout ratio is currently 8.17%.

Institutional Investors Weigh In On D.R. Horton

A number of large investors have recently made changes to their positions in DHI. Newbridge Financial Services Group Inc. raised its stake in D.R. Horton by 105.2% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 675 shares of the construction company’s stock valued at $95,000 after purchasing an additional 346 shares during the period. Heritage Wealth Management Inc. acquired a new position in D.R. Horton during the second quarter valued at $812,000. Sanctuary Advisors LLC purchased a new stake in D.R. Horton in the 2nd quarter worth about $13,668,000. Clear Rock Advisors LLC boosted its position in D.R. Horton by 0.6% during the 2nd quarter. Clear Rock Advisors LLC now owns 24,412 shares of the construction company’s stock worth $3,440,000 after acquiring an additional 136 shares during the period. Finally, Teachers Retirement System of The State of Kentucky grew its stake in D.R. Horton by 0.7% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 154,818 shares of the construction company’s stock valued at $21,818,000 after acquiring an additional 1,026 shares in 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.