D.R. Horton, Inc. (DHI) PT Raised to $44.00 at Buckingham Research
D.R. Horton, Inc. (NYSE:DHI) had its price objective upped by Buckingham Research from $39.00 to $44.00 in a research note issued to investors on Friday morning. The brokerage currently has a neutral rating on the construction company’s stock.
Other analysts have also issued reports about the stock. BidaskClub raised shares of D.R. Horton from a sell rating to a hold rating in a research note on Monday, August 14th. Deutsche Bank AG reissued a hold rating and set a $36.00 target price (up from $34.00) on shares of D.R. Horton in a research note on Thursday, July 27th. Citigroup Inc. increased their target price on shares of D.R. Horton from $42.00 to $48.00 and gave the company a neutral rating in a research note on Friday. UBS AG increased their target price on shares of D.R. Horton from $50.00 to $53.00 and gave the company a buy rating in a research note on Friday. Finally, JMP Securities set a $45.00 target price on shares of D.R. Horton and gave the company a buy rating in a research note on Monday, October 16th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. D.R. Horton currently has an average rating of Buy and a consensus price target of $43.61.
D.R. Horton (NYSE DHI) traded up $1.09 during mid-day trading on Friday, reaching $47.09. 5,762,300 shares of the company traded hands, compared to its average volume of 4,043,545. D.R. Horton has a fifty-two week low of $27.15 and a fifty-two week high of $47.29. The firm has a market capitalization of $17,510.00, a price-to-earnings ratio of 16.85, a PEG ratio of 1.33 and a beta of 1.28. The company has a current ratio of 6.93, a quick ratio of 1.02 and a debt-to-equity ratio of 0.37.
D.R. Horton (NYSE:DHI) last released its earnings results on Thursday, November 9th. The construction company reported $0.82 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.04). D.R. Horton had a net margin of 7.37% and a return on equity of 14.13%. The business had revenue of $4.07 billion for the quarter, compared to analyst estimates of $4 billion. During the same period in the prior year, the company earned $0.75 earnings per share. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. equities analysts forecast that D.R. Horton will post 3.15 earnings per share for the current year.
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The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.06%. The ex-dividend date is Thursday, November 30th. This is a positive change from D.R. Horton’s previous quarterly dividend of $0.10. D.R. Horton’s dividend payout ratio is currently 14.60%.
D.R. Horton declared that its board has authorized a stock buyback plan on Wednesday, July 26th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the construction company to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its shares are undervalued.
In other news, Director Bradley S. Anderson sold 10,000 shares of the stock in a transaction 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 transaction, the director now owns 36,828 shares in the company, valued at approximately $1,379,576.88. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Michael R. Buchanan sold 9,000 shares of the stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $37.06, for a total transaction of $333,540.00. Following the transaction, the director now owns 24,880 shares in the company, valued at approximately $922,052.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,000 shares of company stock worth $852,580. Company insiders own 7.20% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in DHI. Sirios Capital Management L P acquired a new position in shares of D.R. Horton during the 2nd quarter worth $36,744,000. Gruss Capital Management LP acquired a new position in shares of D.R. Horton during the 3rd quarter worth $35,342,000. Junto Capital Management LP acquired a new position in shares of D.R. Horton during the 2nd quarter worth $29,747,000. PDT Partners LLC acquired a new position in shares of D.R. Horton during the 2nd quarter worth $24,522,000. Finally, Impala Asset Management LLC increased its stake in shares of D.R. Horton by 278.8% during the 3rd quarter. Impala Asset Management LLC now owns 952,631 shares of the construction company’s stock worth $38,039,000 after purchasing an additional 701,113 shares during the last quarter. Institutional investors own 81.12% of the company’s stock.
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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