Investors Buy Shares of D.R. Horton Inc. (DHI) on Weakness
Investors purchased shares of D.R. Horton Inc. (NYSE:DHI) on weakness during trading hours on Tuesday. $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 companies tracked, D.R. Horton had the 32nd highest net in-flow for the day. D.R. Horton traded down ($0.10) for the day and closed at $31.84
DHI has been the subject of a number of research analyst reports. Credit Suisse Group AG reiterated a “hold” rating on shares of D.R. Horton in a research note on Tuesday, July 12th. Zacks Investment Research downgraded shares of D.R. Horton from a “buy” rating to a “hold” rating in a report on Monday, May 9th. RBC Capital Markets reissued an “outperform” rating and issued a $38.00 price objective (up previously from $36.00) on shares of D.R. Horton in a report on Tuesday, July 19th. 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. Finally, Argus began coverage on shares of D.R. Horton in a report on Friday, June 17th. They issued a “buy” rating and a $39.00 price objective on the stock. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. D.R. Horton currently has an average rating of “Hold” and a consensus target price of $32.45.
The firm has a 50 day moving average of $32.89 and a 200 day moving average of $30.70. The firm has a market cap of $11.95 billion and a P/E ratio of 14.27.
D.R. Horton (NYSE:DHI) last issued its quarterly earnings data on Thursday, July 21st. The company reported $0.66 EPS for the quarter, hitting analysts’ consensus estimates of $0.66. The firm had revenue of $3.15 billion for the quarter, compared to analyst estimates 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 in the previous year, the business earned $0.60 EPS. On average, equities analysts forecast that D.R. Horton Inc. will post $2.38 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 19th. Stockholders of record on Monday, August 8th were paid a dividend of $0.08 per share. The ex-dividend date was Thursday, August 4th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.00%.
In other news, Director Barbara K. Allen sold 3,333 shares of the firm’s 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 sale, the director now owns 8,983 shares of the company’s stock, valued at approximately $304,972.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael R. Buchanan sold 12,000 shares of the firm’s stock in a transaction that occurred on Monday, July 25th. The stock was 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 approximately $437,372. The disclosure for this sale can be found here.
Several large investors have recently modified their holdings of the company. Stephens Inc. AR purchased a new stake in shares of D.R. Horton during the fourth quarter worth approximately $1,082,000. 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 worth $4,204,000 after buying an additional 3,202 shares during the period. 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 worth $9,723,000 after buying an additional 175,018 shares during the period.
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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