JPMorgan Chase & Co. Forecasts Strong Price Appreciation for D.R. Horton (NYSE:DHI) Stock

D.R. Horton (NYSE:DHI) had its price objective upped by stock analysts at JPMorgan Chase & Co. from $180.00 to $188.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has a “neutral” rating on the construction company’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 8.51% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. JMP Securities raised their price objective on shares of D.R. Horton from $170.00 to $210.00 and gave the stock a “market outperform” rating in a report on Friday, July 19th. Wells Fargo & Company decreased their target price on shares of D.R. Horton from $220.00 to $190.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Keefe, Bruyette & Woods raised their target price on shares of D.R. Horton from $178.00 to $208.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd. BTIG Research decreased their target price on shares of D.R. Horton from $190.00 to $186.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Finally, Barclays decreased their target price on shares of D.R. Horton from $200.00 to $192.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $185.87.

D.R. Horton Trading Up 1.5 %

Shares of NYSE:DHI opened at $173.25 on Monday. D.R. Horton has a 12 month low of $116.22 and a 12 month high of $199.85. The company has a quick ratio of 1.61, a current ratio of 7.32 and a debt-to-equity ratio of 0.23. The company’s fifty day simple moving average is $185.82 and its 200 day simple moving average is $165.98. The firm has a market cap of $56.45 billion, a price-to-earnings ratio of 12.06, a PEG ratio of 0.56 and a beta of 1.74.

D.R. Horton (NYSE:DHI) last issued its quarterly earnings data on Tuesday, October 29th. The construction company reported $3.92 EPS for the quarter, missing analysts’ consensus estimates of $4.17 by ($0.25). D.R. Horton had a return on equity of 19.24% and a net margin of 12.93%. The company had revenue of $10 billion for the quarter, compared to analyst estimates of $10.22 billion. During the same quarter in the previous year, the business earned $4.45 earnings per share. The company’s revenue was down 4.7% on a year-over-year basis. As a group, research analysts forecast that D.R. Horton will post 15.64 EPS for the current fiscal year.

D.R. Horton announced that its board has initiated a share repurchase program on Thursday, July 18th that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the construction company to reacquire up to 6.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Institutional Trading of D.R. Horton

A number of hedge funds have recently modified their holdings of DHI. Vanguard Group Inc. lifted its stake in shares of 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 worth $5,735,620,000 after buying an additional 2,474,262 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in D.R. Horton by 1,761.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,043,909 shares of the construction company’s stock worth $147,118,000 after purchasing an additional 987,834 shares in the last quarter. Principal Financial Group Inc. raised its stake in D.R. Horton by 51.2% in the 2nd quarter. Principal Financial Group Inc. now owns 1,657,028 shares of the construction company’s stock worth $233,525,000 after purchasing an additional 561,337 shares in the last quarter. Long Pond Capital LP raised its stake in D.R. Horton by 438.6% in the 1st quarter. Long Pond Capital LP now owns 659,761 shares of the construction company’s stock worth $108,564,000 after purchasing an additional 537,276 shares in the last quarter. Finally, National Bank of Canada FI raised its stake in D.R. Horton by 265.6% in the 1st quarter. National Bank of Canada FI now owns 488,376 shares of the construction company’s stock worth $73,239,000 after purchasing an additional 354,789 shares in the last quarter. Institutional investors and hedge funds 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.