D.R. Horton (NYSE:DHI) Given New $186.00 Price Target at BTIG Research

D.R. Horton (NYSE:DHI) had its price objective cut by BTIG Research from $190.00 to $186.00 in a report released on Wednesday morning, Benzinga reports. They currently have a buy rating on the construction company’s stock.

DHI has been the topic of a number of other reports. Citigroup cut D.R. Horton from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $181.00 to $156.00 in a report on Tuesday, July 2nd. UBS Group dropped their price target on D.R. Horton from $217.00 to $214.00 and set a “buy” rating on the stock in a research note on Wednesday. Evercore ISI reduced their price objective on shares of D.R. Horton from $218.00 to $204.00 and set an “outperform” rating for the company in a research note on Wednesday. Wells Fargo & Company lowered their price objective on shares of D.R. Horton from $220.00 to $190.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, Barclays lifted their target price on shares of D.R. Horton from $168.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. One equities research 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $185.87.

D.R. Horton Trading Up 1.2 %

Shares of DHI stock opened at $169.29 on Wednesday. The firm has a market capitalization of $55.75 billion, a PE ratio of 11.52, a price-to-earnings-growth ratio of 0.78 and a beta of 1.72. 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 1 year low of $102.23 and a 1 year high of $199.85. The stock has a fifty day moving average of $187.29 and a two-hundred day moving average of $165.15.

D.R. Horton (NYSE:DHI) last announced its earnings results on Tuesday, October 29th. The construction company reported $3.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.20 by ($0.28). The company had revenue of $10 billion during 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 business’s quarterly revenue was down 4.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.45 EPS. As a group, research analysts expect that D.R. Horton will post 14.03 EPS for the current year.

D.R. Horton Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 12th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a 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 (DPR) is 8.17%.

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 outstanding shares. This repurchase authorization permits the construction company to buy up to 6.9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On D.R. Horton

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Concurrent Investment Advisors LLC bought a new stake in D.R. Horton during the 1st quarter valued at approximately $1,249,000. BI Asset Management Fondsmaeglerselskab A S grew its stake in shares of D.R. Horton by 85.9% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 35,167 shares of the construction company’s stock worth $5,787,000 after acquiring an additional 16,252 shares during the last quarter. Bessemer Group Inc. increased its position in D.R. Horton by 107.6% during the first quarter. Bessemer Group Inc. now owns 14,857 shares of the construction company’s stock worth $2,444,000 after acquiring an additional 7,699 shares during the period. Canada Pension Plan Investment Board raised its stake in D.R. Horton by 92.3% during the 1st quarter. Canada Pension Plan Investment Board now owns 415,968 shares of the construction company’s stock valued at $68,448,000 after purchasing an additional 199,668 shares during the last quarter. Finally, Concord Investment Counsel Inc. bought a new stake in D.R. Horton in the 1st quarter valued at $4,161,000. 90.63% of the stock is owned by institutional investors and hedge funds.

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.