D.R. Horton (NYSE:DHI) Upgraded at Wedbush

Wedbush upgraded shares of D.R. Horton (NYSE:DHI) from an underperform rating to a neutral rating in a research report released on Tuesday morning, MarketBeat.com reports. Wedbush currently has $165.00 price objective on the construction company’s stock.

A number of other equities analysts have also issued reports on the stock. Bank of America raised their target price on shares of D.R. Horton from $196.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Wells Fargo & Company raised their target price on shares of D.R. Horton from $210.00 to $220.00 and gave the stock an “overweight” rating in a research report on Monday, August 26th. Evercore ISI lifted their price objective on shares of D.R. Horton from $191.00 to $205.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. JPMorgan Chase & Co. lifted their price objective on shares of D.R. Horton from $163.00 to $180.00 and gave the company a “neutral” rating in a research report on Tuesday, July 23rd. Finally, Citigroup lowered shares of D.R. Horton from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $181.00 to $156.00 in a research report on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $185.67.

D.R. Horton Stock Down 0.8 %

DHI stock opened at $190.95 on Tuesday. The company has a current ratio of 7.22, a quick ratio of 1.30 and a debt-to-equity ratio of 0.23. D.R. Horton has a twelve month low of $100.08 and a twelve month high of $199.85. The company’s 50 day moving average is $186.78 and its two-hundred day moving average is $163.56. The stock has a market cap of $62.88 billion, a P/E ratio of 13.00, a PEG ratio of 0.78 and a beta of 1.72.

D.R. Horton (NYSE:DHI) last released its quarterly earnings data on Thursday, July 18th. The construction company reported $4.10 earnings per share for the quarter, topping analysts’ consensus estimates of $3.75 by $0.35. D.R. Horton had a net margin of 13.36% and a return on equity of 20.72%. The company had revenue of $9.97 billion for the quarter, compared to analysts’ expectations of $9.61 billion. During the same quarter last year, the company earned $3.90 earnings per share. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. Research analysts expect that D.R. Horton will post 14.03 earnings per share for the current fiscal year.

D.R. Horton announced that its Board of Directors has approved a share repurchase program on Thursday, July 18th that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the construction company to purchase up to 6.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On D.R. Horton

Institutional investors and hedge funds have recently modified their holdings of the company. Concurrent Investment Advisors LLC acquired a new position in D.R. Horton in the 1st quarter valued at $1,249,000. BI Asset Management Fondsmaeglerselskab A S boosted its stake in D.R. Horton by 85.9% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 35,167 shares of the construction company’s stock worth $5,787,000 after buying an additional 16,252 shares during the last quarter. Alaska Permanent Fund Corp increased its stake in shares of D.R. Horton by 312.0% during the 1st quarter. Alaska Permanent Fund Corp now owns 11,755 shares of the construction company’s stock valued at $1,934,000 after acquiring an additional 8,902 shares during the last quarter. Bessemer Group Inc. lifted its holdings in shares of D.R. Horton by 107.6% during the 1st 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. Finally, Canada Pension Plan Investment Board boosted its position in shares of D.R. Horton by 92.3% in the first quarter. Canada Pension Plan Investment Board now owns 415,968 shares of the construction company’s stock worth $68,448,000 after acquiring an additional 199,668 shares during the last quarter. Hedge funds and other institutional investors own 90.63% of the company’s stock.

About D.R. Horton

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.