D.R. Horton Inc. (DHI) Upgraded at FBN Securities
D.R. Horton Inc. (NYSE:DHI) was upgraded by equities researchers at FBN Securities from an “underperform” rating to a “sector perform” rating in a research report issued to clients and investors on Monday. The firm currently has a $27.50 price objective on the stock, up from their previous price objective of $25.00. FBN Securities’ price target would suggest a potential downside of 7.09% from the company’s previous close.
Other equities research analysts have also issued research reports about the stock. Bank of America Corp. raised shares of D.R. Horton from a “neutral” rating to a “buy” rating and upped their target price for the stock from $35.05 to $36.00 in a report on Tuesday, September 13th. Argus reaffirmed a “buy” rating and set a $39.00 target price on shares of D.R. Horton in a report on Tuesday, July 26th. JMP Securities reissued a “buy” rating and issued a $36.00 price objective on shares of D.R. Horton in a report on Wednesday, June 15th. Credit Suisse Group AG reissued a “hold” rating on shares of D.R. Horton in a report on Tuesday, July 12th. Finally, Wells Fargo & Co. assumed coverage on shares of D.R. Horton in a report on Wednesday, September 28th. They issued an “outperform” rating for the company. Eleven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $32.28.
Shares of D.R. Horton (NYSE:DHI) opened at 29.60 on Monday. The company has a market cap of $11.02 billion, a price-to-earnings ratio of 13.16 and a beta of 1.30. D.R. Horton has a one year low of $22.97 and a one year high of $34.56. The company’s 50-day moving average is $30.91 and its 200-day moving average is $31.20.
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D.R. Horton (NYSE:DHI) last released its earnings results on Thursday, July 21st. The company reported $0.66 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.66. D.R. Horton had a net margin of 7.26% and a return on equity of 13.71%. The business earned $3.15 billion during the quarter, compared to analyst estimates of $3.25 billion. During the same quarter in the prior year, the firm earned $0.60 earnings per share. The company’s revenue for the quarter was up 12.4% compared to the same quarter last year. On average, equities analysts predict that D.R. Horton will post $2.38 EPS for the current year.
In other news, Director Michael W. Hewatt sold 5,000 shares of the firm’s 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 transaction, the director now directly owns 5,000 shares in the company, valued at $159,350. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Barbara K. Allen sold 3,333 shares of the firm’s stock in a transaction that occurred on Friday, July 22nd. The stock was sold at an average price of $33.95, for a total transaction of $113,155.35. Following the transaction, the director now owns 8,983 shares in the company, valued at $304,972.85. The disclosure for this sale can be found here. 7.17% of the stock is currently owned by company insiders.
Institutional investors have recently made changes to their positions in the company. Invictus RG raised its position in shares of D.R. Horton by 84.7% in the first quarter. Invictus RG now owns 3,508 shares of the company’s stock worth $106,000 after buying an additional 1,609 shares during the period. MCF Advisors LLC raised its position in D.R. Horton by 776.6% in the second quarter. MCF Advisors LLC now owns 3,603 shares of the company’s stock worth $113,000 after buying an additional 3,192 shares during the period. Creative Planning raised its position in D.R. Horton by 4.7% in the second quarter. Creative Planning now owns 4,064 shares of the company’s stock worth $128,000 after buying an additional 182 shares during the period. Mckinley Capital Management LLC Delaware raised its position in D.R. Horton by 0.4% in the second quarter. Mckinley Capital Management LLC Delaware now owns 4,144 shares of the company’s stock worth $130,000 after buying an additional 18 shares during the period. Finally, Acrospire Investment Management LLC raised its position in D.R. Horton by 35.5% in the second quarter. Acrospire Investment Management LLC now owns 4,200 shares of the company’s stock worth $132,000 after buying an additional 1,100 shares during the period. Institutional investors and hedge funds own 83.57% of the company’s stock.
D.R. Horton Company Profile
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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