D.R. Horton, Inc. (NYSE:DHI)‘s stock had its “hold” rating reaffirmed by research analysts at Mizuho in a research note issued on Friday. They currently have a $38.00 target price on the construction company’s stock. Mizuho’s target price would indicate a potential downside of 13.64% from the company’s current price.
DHI has been the topic of a number of other reports. Wells Fargo & Company reiterated an “outperform” rating and issued a $41.00 price objective (up from $39.00) on shares of D.R. Horton in a research report on Monday, July 10th. Citigroup Inc. reiterated a “neutral” rating and issued a $42.00 price objective (up from $34.00) on shares of D.R. Horton in a research report on Monday, October 9th. Wedbush increased their price objective on D.R. Horton from $36.00 to $42.00 and gave the company an “outperform” rating in a research report on Monday, July 17th. Royal Bank Of Canada increased their price objective on D.R. Horton from $37.00 to $42.00 and gave the company an “outperform” rating in a research report on Thursday, July 13th. Finally, Bank of America Corporation increased their price objective on D.R. Horton from $43.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, October 6th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $41.56.
D.R. Horton (DHI) traded up 0.07% on Friday, reaching $44.03. The company had a trading volume of 302,519 shares. The stock has a market cap of $16.48 billion, a price-to-earnings ratio of 16.50 and a beta of 1.24. D.R. Horton has a one year low of $26.69 and a one year high of $44.15. The company has a 50-day moving average of $39.46 and a 200 day moving average of $35.84.
D.R. Horton (NYSE:DHI) last released its quarterly earnings results on Wednesday, July 26th. The construction company reported $0.76 earnings per share 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 firm 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 EPS. The business’s revenue was up 17.0% on a year-over-year basis. On average, equities research analysts predict that D.R. Horton will post $2.74 EPS for the current year.
D.R. Horton declared that its board has initiated a stock buyback program on Wednesday, July 26th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the construction company to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
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In other news, Director Michael R. Buchanan sold 9,000 shares of the firm’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $37.06, for a total value of $333,540.00. Following the transaction, the director now directly owns 24,880 shares in the company, valued at approximately $922,052.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bradley S. Anderson sold 10,000 shares of the firm’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $37.46, for a total value of $374,600.00. Following the completion of the transaction, the director now owns 36,828 shares in the company, valued at $1,379,576.88. The disclosure for this sale can be found here. Insiders sold a total of 23,000 shares of company stock worth $852,580 over the last 90 days. 7.20% of the stock is owned by corporate insiders.
Hedge funds have recently bought and sold shares of the business. Mckinley Capital Management LLC Delaware bought a new position in D.R. Horton during the second quarter worth about $100,000. Tower Research Capital LLC TRC lifted its holdings in D.R. Horton by 179.5% during the second quarter. Tower Research Capital LLC TRC now owns 3,591 shares of the construction company’s stock worth $124,000 after acquiring an additional 2,306 shares in the last quarter. Evercore Wealth Management LLC lifted its holdings in D.R. Horton by 5.7% during the second quarter. Evercore Wealth Management LLC now owns 3,700 shares of the construction company’s stock worth $128,000 after acquiring an additional 200 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings in D.R. Horton by 6.9% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 3,742 shares of the construction company’s stock worth $129,000 after acquiring an additional 241 shares in the last quarter. Finally, Advisory Services Network LLC lifted its holdings in D.R. Horton by 131.9% during the second quarter. Advisory Services Network LLC now owns 3,956 shares of the construction company’s stock worth $137,000 after acquiring an additional 2,250 shares in the last quarter. Hedge funds and other institutional investors own 82.40% of the company’s stock.
About D.R. Horton
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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