Citigroup Inc. reiterated their neutral rating on shares of D.R. Horton, Inc. (NYSE:DHI) in a report published on Monday. Citigroup Inc. currently has a $42.00 price objective on the construction company’s stock, up from their previous price objective of $34.00.
Several other equities research analysts have also commented on DHI. Credit Suisse Group initiated coverage on shares of D.R. Horton in a research note on Thursday, June 22nd. They set an outperform rating and a $38.00 price objective on the stock. Bank of America Corporation reiterated a buy rating and issued a $42.00 target price (up previously from $41.00) on shares of D.R. Horton in a research note on Tuesday, June 27th. Raymond James Financial, Inc. upgraded shares of D.R. Horton from a market perform rating to an outperform rating and set a $39.00 target price on the stock in a research note on Friday, June 30th. BidaskClub upgraded shares of D.R. Horton from a hold rating to a buy rating in a research note on Thursday, July 6th. Finally, Wells Fargo & Company reiterated an outperform rating and issued a $41.00 target price (up previously from $39.00) on shares of D.R. Horton in a research note on Monday, July 10th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. D.R. Horton presently has an average rating of Buy and a consensus price target of $38.81.
D.R. Horton (NYSE:DHI) opened at 41.28 on Monday. The company has a 50-day moving average of $37.87 and a 200 day moving average of $35.25. D.R. Horton has a 12 month low of $26.69 and a 12 month high of $41.57. The company has a market cap of $15.45 billion, a PE ratio of 15.47 and a beta of 1.24.
D.R. Horton (NYSE:DHI) last posted its quarterly earnings data on Wednesday, July 26th. The construction company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.75 by $0.01. D.R. Horton had a net margin of 7.38% and a return on equity of 14.19%. The business had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.71 billion. During the same quarter in the previous year, the firm posted $0.66 earnings per share. D.R. Horton’s quarterly revenue was up 17.0% on a year-over-year basis. On average, equities analysts forecast that D.R. Horton will post $2.75 earnings per share for the current fiscal year.
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D.R. Horton declared that its Board of Directors has authorized a share buyback plan on Wednesday, July 26th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the construction company to buy shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.
In other D.R. Horton news, Director Michael W. Hewatt sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $36.11, for a total transaction of $144,440.00. Following the completion of the sale, the director now directly owns 8,000 shares of the company’s stock, valued at $288,880. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Bradley S. Anderson sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $37.46, for a total transaction of $374,600.00. Following the sale, the director now directly owns 36,828 shares of the company’s stock, valued at $1,379,576.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,666 shares of company stock worth $912,606. 7.20% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the business. Mckinley Capital Management LLC Delaware purchased a new stake in D.R. Horton during the second quarter valued at approximately $100,000. Tower Research Capital LLC TRC increased 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 valued at $124,000 after buying an additional 2,306 shares during the last quarter. Evercore Wealth Management LLC increased 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 valued at $128,000 after buying an additional 200 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased 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 valued at $129,000 after buying an additional 241 shares during the last quarter. Finally, Advisory Services Network LLC increased 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 valued at $137,000 after buying an additional 2,250 shares during the last quarter. 82.29% of the stock is owned by institutional investors and hedge funds.
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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