BTIG Research Lowers D.R. Horton (NYSE:DHI) Price Target to $186.00

D.R. Horton (NYSE:DHI) had its price objective cut by BTIG Research from $190.00 to $186.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. BTIG Research’s target price would indicate a potential upside of 10.06% from the stock’s current price.

Several other equities analysts have also issued reports on the stock. Wedbush raised shares of D.R. Horton from an “underperform” rating to a “neutral” rating and set a $165.00 price objective on the stock in a report on Tuesday, October 15th. Citigroup lowered shares of D.R. Horton from a “buy” rating to a “neutral” rating and cut their price target for the stock from $181.00 to $156.00 in a report on Tuesday, July 2nd. Royal Bank of Canada cut their price target on shares of D.R. Horton from $154.00 to $145.00 and set an “underperform” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. lifted their price target on shares of D.R. Horton from $163.00 to $180.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. Finally, Evercore ISI cut their price target on shares of D.R. Horton from $218.00 to $204.00 and set an “outperform” rating on the stock in a report on Wednesday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $185.33.

D.R. Horton Stock Performance

D.R. Horton stock opened at $169.00 on Wednesday. The company has a 50 day moving average price of $186.95 and a 200-day moving average price of $165.18. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.30 and a current ratio of 7.22. D.R. Horton has a fifty-two week low of $102.23 and a fifty-two week high of $199.85. The company has a market capitalization of $55.07 billion, a PE ratio of 11.77, a P/E/G ratio of 0.78 and a beta of 1.72.

D.R. Horton (NYSE:DHI) last issued its quarterly earnings data on Tuesday, October 29th. The construction company reported $3.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.20 by ($0.28). The business had revenue of $10 billion for the quarter, compared to analysts’ expectations of $10.22 billion. D.R. Horton had a net margin of 13.36% and a return on equity of 20.72%. The business’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same period in the previous year, the business earned $4.45 earnings per share. As a group, equities analysts forecast that D.R. Horton will post 14.03 earnings per share for the current year.

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

Institutional Trading of D.R. Horton

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in D.R. Horton by 7.6% during the 1st quarter. Vanguard Group Inc. now owns 34,856,397 shares of the construction company’s stock valued at $5,735,620,000 after acquiring an additional 2,474,262 shares in the last quarter. Greenhaven Associates Inc. grew its stake in D.R. Horton by 2.3% during the 2nd quarter. Greenhaven Associates Inc. now owns 3,669,893 shares of the construction company’s stock valued at $517,198,000 after acquiring an additional 81,900 shares in the last quarter. Earnest Partners LLC grew its stake in D.R. Horton by 0.4% during the 2nd quarter. Earnest Partners LLC now owns 2,064,149 shares of the construction company’s stock valued at $290,901,000 after acquiring an additional 9,137 shares in the last quarter. Principal Financial Group Inc. grew its stake in D.R. Horton by 7.3% during the 3rd quarter. Principal Financial Group Inc. now owns 1,777,920 shares of the construction company’s stock valued at $339,174,000 after acquiring an additional 120,892 shares in the last quarter. Finally, National Pension Service grew its stake in D.R. Horton by 6.0% during the 3rd quarter. National Pension Service now owns 1,108,703 shares of the construction company’s stock valued at $211,507,000 after acquiring an additional 62,971 shares in 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.