BTIG Research Has Lowered Expectations for D.R. Horton (NYSE:DHI) Stock Price

D.R. Horton (NYSE:DHI) had its price target dropped by equities researchers at BTIG Research from $171.00 to $150.00 in a research report issued to clients and investors on Wednesday, MarketBeat.com reports. The firm presently has a “buy” rating on the construction company’s stock. BTIG Research’s target price would indicate a potential upside of 23.67% from the stock’s current price. Their comments are based on a broader research note on Homebuilders ahead of the industry’s start of the earnings season. The firm is projecting a 7% decline in U.S. new home sales and a 27% average decline in earnings due to lower consumer confidence as a result of heightened uncertainty about the future in terms of both income/job security and cost of living along with still-relatively high interest rates.

Other research analysts have also issued research reports about the stock. StockNews.com upgraded shares of D.R. Horton from a “sell” rating to a “hold” rating in a research note on Saturday, January 25th. Wells Fargo & Company cut their price objective on D.R. Horton from $175.00 to $160.00 and set an “overweight” rating for the company in a report on Monday. Royal Bank of Canada restated an “underperform” rating and issued a $125.00 target price on shares of D.R. Horton in a research note on Wednesday, January 22nd. Seaport Res Ptn upgraded D.R. Horton from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 6th. Finally, UBS Group dropped their price objective on D.R. Horton from $214.00 to $203.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $162.21.

D.R. Horton Trading Up 3.2 %

NYSE DHI opened at $121.29 on Wednesday. The firm’s 50 day moving average price is $126.59 and its two-hundred day moving average price is $147.76. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.09 and a current ratio of 6.92. D.R. Horton has a twelve month low of $110.44 and a twelve month high of $199.85. The stock has a market cap of $38.22 billion, a price-to-earnings ratio of 8.57, a PEG ratio of 0.54 and a beta of 1.61.

D.R. Horton (NYSE:DHI) last announced its quarterly earnings data on Thursday, April 17th. The construction company reported $2.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.69 by ($0.11). D.R. Horton had a return on equity of 18.48% and a net margin of 12.69%. The business had revenue of $7.73 billion during the quarter, compared to analysts’ expectations of $8.07 billion. During the same period in the prior year, the company posted $3.52 earnings per share. Equities analysts anticipate that D.R. Horton will post 13.04 EPS for the current year.

Hedge Funds Weigh In On D.R. Horton

A number of institutional investors and hedge funds have recently bought and sold shares of DHI. Geode Capital Management LLC increased its holdings in shares of D.R. Horton by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 7,235,518 shares of the construction company’s stock worth $1,009,077,000 after purchasing an additional 127,606 shares during the period. Norges Bank bought a new stake in shares of D.R. Horton in the 4th quarter worth approximately $593,363,000. Franklin Resources Inc. increased its position in shares of D.R. Horton by 71.5% during the fourth quarter. Franklin Resources Inc. now owns 3,574,409 shares of the construction company’s stock valued at $499,774,000 after purchasing an additional 1,490,648 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of D.R. Horton by 2.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,475,995 shares of the construction company’s stock valued at $485,984,000 after purchasing an additional 72,161 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in D.R. Horton by 15.8% during the fourth quarter. Northern Trust Corp now owns 3,375,050 shares of the construction company’s stock worth $471,899,000 after buying an additional 460,804 shares in the last quarter. 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.