Investors Buy D.R. Horton Inc. (DHI) on Weakness
Traders purchased shares of D.R. Horton Inc. (NYSE:DHI) on weakness during trading hours on Monday. $32.96 million flowed into the stock on the tick-up and $23.29 million flowed out of the stock on the tick-down, for a money net flow of $9.67 million into the stock. Of all equities tracked, D.R. Horton had the 7th highest net in-flow for the day. D.R. Horton traded down ($0.10) for the day and closed at $31.84
A number of equities research analysts have recently weighed in on the company. Royal Bank Of Canada lifted their price target on D.R. Horton from $36.00 to $38.00 and gave the company an “outperform” rating in a report on Monday, July 18th. Argus reissued a “buy” rating and set a $39.00 target price on shares of D.R. Horton in a report on Tuesday, July 26th. Bank of America Corp. cut D.R. Horton from a “buy” rating to a “neutral” rating and set a $36.00 target price on the stock. in a report on Friday, July 22nd. JMP Securities reissued a “buy” rating and set a $36.00 target price on shares of D.R. Horton in a report on Wednesday, June 15th. Finally, Credit Suisse Group AG reissued a “hold” rating on shares of D.R. Horton in a report on Tuesday, June 28th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $32.45.
The company’s 50-day moving average is $32.94 and its 200-day moving average is $30.64. The company has a market cap of $11.85 billion and a price-to-earnings ratio of 14.16.
D.R. Horton (NYSE:DHI) last released its quarterly earnings results on Thursday, July 21st. The company reported $0.66 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.66. The company had revenue of $3.15 billion for the quarter, compared to the consensus estimate of $3.25 billion. D.R. Horton’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period last year, the company earned $0.60 earnings per share. On average, equities analysts predict that D.R. Horton Inc. will post $2.38 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 19th. Investors of record on Monday, August 8th were issued a $0.08 dividend. The ex-dividend date of this dividend was Thursday, August 4th. This represents a $0.32 annualized dividend and a yield of 1.01%.
In related news, Director Michael R. Buchanan sold 12,000 shares of the stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $33.80, for a total value of $405,600.00. Following the transaction, the director now directly owns 12,940 shares in the company, valued at $437,372. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Barbara K. Allen sold 3,333 shares of the stock in a transaction that occurred on Friday, July 22nd. The shares were sold at an average price of $33.95, for a total transaction of $113,155.35. Following the completion of 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.
Other institutional investors have made changes to their positions in the company. American International Group Inc. raised its position in shares of D.R. Horton by 2.5% in the fourth quarter. American International Group Inc. now owns 131,273 shares of the company’s stock valued at $4,204,000 after buying an additional 3,202 shares in the last quarter. Stephens Inc. AR acquired a new position in shares of D.R. Horton during the fourth quarter valued at $1,082,000. Finally, State of Tennessee Treasury Department raised its position in shares of D.R. Horton by 136.1% in the fourth quarter. State of Tennessee Treasury Department now owns 303,585 shares of the company’s stock valued at $9,723,000 after buying an additional 175,018 shares in the last quarter.
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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