D.R. Horton Inc. (DHI) Lifted to Sector Perform at FBN Securities
D.R. Horton Inc. (NYSE:DHI) was upgraded by investment analysts at FBN Securities from an “underperform” rating to a “sector perform” rating in a research note issued to investors on Monday. The firm currently has a $27.50 target price on the stock, up from their prior target price of $25.00. FBN Securities’ price target indicates a potential downside of 7.09% from the company’s previous close.
DHI has been the subject of several other research reports. Credit Suisse Group AG reaffirmed a “hold” rating on shares of D.R. Horton in a report on Tuesday, July 12th. RBC Capital Markets reaffirmed an “outperform” rating and set a $38.00 target price (up previously from $36.00) on shares of D.R. Horton in a report on Tuesday, July 19th. Bank of America Corp. downgraded shares of D.R. Horton from a “buy” rating to a “neutral” rating and set a $36.00 target price for the company. in a report on Friday, July 22nd. Royal Bank Of Canada lifted their target price on shares of D.R. Horton from $36.00 to $38.00 and gave the stock an “outperform” rating in a report on Monday, July 18th. Finally, Argus assumed coverage on shares of D.R. Horton in a report on Friday, June 17th. They set a “buy” rating and a $39.00 target price for the company. Eleven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $32.28.
Shares of D.R. Horton (NYSE:DHI) opened at 29.60 on Monday. D.R. Horton has a 52 week low of $22.97 and a 52 week high of $34.56. The firm’s 50-day moving average is $30.91 and its 200 day moving average is $31.20. The company has a market capitalization of $11.02 billion, a PE ratio of 13.16 and a beta of 1.30.
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D.R. Horton (NYSE:DHI) last announced its quarterly earnings data on Thursday, July 21st. The company reported $0.66 EPS for the quarter, meeting analysts’ consensus estimates of $0.66. D.R. Horton had a net margin of 7.26% and a return on equity of 13.71%. The company earned $3.15 billion during the quarter, compared to the consensus estimate of $3.25 billion. During the same quarter last year, the firm posted $0.60 EPS. The company’s quarterly revenue was up 12.4% on a year-over-year basis. On average, analysts anticipate that D.R. Horton will post $2.38 earnings per share for the current fiscal year.
In related news, Director Michael W. Hewatt sold 5,000 shares of D.R. Horton stock in a transaction that occurred on Wednesday, August 31st. The shares were sold at an average price of $31.87, for a total transaction of $159,350.00. Following the sale, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $159,350. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael R. Buchanan sold 12,000 shares of D.R. Horton stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $33.80, for a total transaction of $405,600.00. Following the sale, the director now directly owns 12,940 shares in the company, valued at $437,372. The disclosure for this sale can be found here. 7.17% of the stock is currently owned by insiders.
Several large investors have recently made changes to their positions in DHI. TIAA CREF Investment Management LLC raised its stake in shares of D.R. Horton by 14.1% in the first quarter. TIAA CREF Investment Management LLC now owns 1,683,684 shares of the company’s stock valued at $50,898,000 after buying an additional 207,854 shares during the period. BlackRock Group LTD raised its stake in shares of D.R. Horton by 1.4% in the first quarter. BlackRock Group LTD now owns 2,695,560 shares of the company’s stock valued at $81,487,000 after buying an additional 36,585 shares during the period. BlackRock Japan Co. Ltd raised its stake in shares of D.R. Horton by 0.5% in the first quarter. BlackRock Japan Co. Ltd now owns 429,969 shares of the company’s stock valued at $12,998,000 after buying an additional 2,113 shares during the period. ING Groep NV bought a new stake in shares of D.R. Horton during the first quarter valued at about $20,057,000. Finally, Aviva PLC raised its stake in shares of D.R. Horton by 2.1% in the first quarter. Aviva PLC now owns 171,466 shares of the company’s stock valued at $5,183,000 after buying an additional 3,454 shares during the period. 83.57% of the stock is currently owned by institutional investors.
About D.R. Horton
D.R. Horton, Inc is a homebuilding company. The Company is engaged in the acquisition and development of land and the construction and sale of residential homes, through its operating divisions in around 27 states and over 79 metropolitan markets of the United States, under the names of D.R. Horton, America’s Builder, Express Homes, Emerald Homes, Breland Homes, Regent Homes, Crown Communities and Pacific Ridge Homes.
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