D.R. Horton, Inc. (DHI) Reaches New 1-Year High After Analyst Upgrade

D.R. Horton, Inc. (NYSE:DHI) hit a new 52-week high during mid-day trading on Monday after Bank of America Corporation raised their price target on the stock from $43.00 to $55.00. Bank of America Corporation currently has a buy rating on the stock. D.R. Horton traded as high as $41.31 and last traded at $41.38, with a volume of 1,766,001 shares changing hands. The stock had previously closed at $41.08.

Other equities research analysts have also issued reports about the company. BidaskClub upgraded D.R. Horton from a “sell” rating to a “hold” rating in a report on Monday, August 14th. Wells Fargo & Company restated an “outperform” rating and issued a $41.00 target price (up from $39.00) on shares of D.R. Horton in a report on Monday, July 10th. Raymond James Financial, Inc. upgraded D.R. Horton from a “market perform” rating to an “outperform” rating and set a $39.00 target price for the company in a report on Friday, June 30th. Deutsche Bank AG restated a “hold” rating and issued a $36.00 target price (up from $34.00) on shares of D.R. Horton in a report on Thursday, July 27th. Finally, Royal Bank Of Canada boosted their target price on D.R. Horton from $37.00 to $42.00 and gave the stock an “outperform” rating in a report on Thursday, July 13th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $38.81.

In other D.R. Horton news, Director Barbara K. Allen sold 1,666 shares of D.R. Horton stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $36.03, for a total value of $60,025.98. Following the transaction, the director now directly owns 7,316 shares of the company’s stock, valued at approximately $263,595.48. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Michael W. Hewatt sold 4,000 shares of D.R. Horton stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $36.11, for a total value of $144,440.00. Following the completion of the transaction, the director now directly owns 8,000 shares in the company, valued at $288,880. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,666 shares of company stock worth $912,606. Company insiders own 7.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Lord Abbett & CO. LLC increased its position in D.R. Horton by 16.7% in the 2nd quarter. Lord Abbett & CO. LLC now owns 165,000 shares of the construction company’s stock worth $5,704,000 after buying an additional 23,600 shares during the period. Toronto Dominion Bank increased its position in D.R. Horton by 23.7% in the 2nd quarter. Toronto Dominion Bank now owns 120,832 shares of the construction company’s stock worth $4,177,000 after buying an additional 23,143 shares during the period. Cetera Investment Advisers bought a new position in D.R. Horton in the 2nd quarter worth approximately $216,000. Advisory Services Network LLC increased its position in D.R. Horton by 131.9% in the 2nd quarter. Advisory Services Network LLC now owns 3,956 shares of the construction company’s stock worth $137,000 after buying an additional 2,250 shares during the period. Finally, Public Employees Retirement System of Ohio increased its position in D.R. Horton by 0.3% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 217,005 shares of the construction company’s stock worth $7,502,000 after buying an additional 565 shares during the period. 82.29% of the stock is currently owned by institutional investors.

The firm has a market cap of $15.45 billion, a P/E ratio of 15.47 and a beta of 1.23. The company has a 50-day moving average of $37.53 and a 200 day moving average of $35.16.

D.R. Horton (NYSE:DHI) last released its quarterly earnings data on Wednesday, July 26th. The construction company reported $0.76 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.01. D.R. Horton had a return on equity of 14.19% and a net margin of 7.38%. The company had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.71 billion. During the same period last year, the firm posted $0.66 earnings per share. The business’s revenue was up 17.0% on a year-over-year basis. On average, analysts anticipate that D.R. Horton, Inc. will post $2.75 earnings per share for the current year.

D.R. Horton announced that its board has initiated a share buyback plan on Wednesday, July 26th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the construction company to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

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D.R. Horton Company Profile

D.R. Horton, Inc is a homebuilding company. The Company constructed and sold homes in 27 states and 79 markets, as of September 30, 2015. The Company’s segments include its 39 homebuilding divisions, its financial services operations and its other business activities. In the homebuilding segment, the Company builds and sells single-family detached homes and attached homes, such as town homes, duplexes, triplexes and condominiums.

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