D.R. Horton (NYSE:DHI) Hits New 1-Year High After Analyst Upgrade

D.R. Horton, Inc. (NYSE:DHI)’s stock price reached a new 52-week high on Thursday after Bank of America raised their price target on the stock from $196.00 to $215.00. Bank of America currently has a buy rating on the stock. D.R. Horton traded as high as $199.40 and last traded at $196.27, with a volume of 54030 shares changing hands. The stock had previously closed at $194.19.

A number of other brokerages also recently commented on DHI. Wells Fargo & Company raised their price objective on shares of D.R. Horton from $210.00 to $220.00 and gave the company an “overweight” rating in a research report on Monday, August 26th. UBS Group lifted their price target on D.R. Horton from $200.00 to $217.00 and gave the company a “buy” rating in a research note on Friday, July 19th. StockNews.com cut D.R. Horton from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. JMP Securities boosted their target price on shares of D.R. Horton from $170.00 to $210.00 and gave the stock a “market outperform” rating in a research report on Friday, July 19th. Finally, JPMorgan Chase & Co. increased their price target on shares of D.R. Horton from $163.00 to $180.00 and gave the company a “neutral” rating in a report on Tuesday, July 23rd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, D.R. Horton presently has an average rating of “Hold” and a consensus price target of $183.33.

Hedge Funds Weigh In On D.R. Horton

Several institutional investors and hedge funds have recently bought and sold shares of DHI. Bfsg LLC raised its position in shares of D.R. Horton by 70.5% in the 2nd quarter. Bfsg LLC now owns 179 shares of the construction company’s stock worth $25,000 after buying an additional 74 shares during the period. Rise Advisors LLC acquired a new stake in D.R. Horton during the first quarter worth about $27,000. RiverPark Advisors LLC purchased a new position in shares of D.R. Horton in the 1st quarter worth about $29,000. Riverview Trust Co acquired a new position in shares of D.R. Horton in the 1st quarter valued at about $30,000. Finally, Signature Resources Capital Management LLC purchased a new stake in shares of D.R. Horton during the 2nd quarter worth about $31,000. Institutional investors and hedge funds own 90.63% of the company’s stock.

D.R. Horton Stock Performance

The stock has a market cap of $63.20 billion, a price-to-earnings ratio of 13.06, a P/E/G ratio of 0.86 and a beta of 1.73. The company has a current ratio of 7.22, a quick ratio of 1.30 and a debt-to-equity ratio of 0.23. The stock’s 50-day moving average is $180.71 and its 200-day moving average is $159.35.

D.R. Horton (NYSE:DHI) last posted its earnings results on Thursday, July 18th. The construction company reported $4.10 earnings per share for the quarter, beating the consensus estimate of $3.75 by $0.35. D.R. Horton had a net margin of 13.36% and a return on equity of 20.72%. The business had revenue of $9.97 billion for the quarter, compared to analyst estimates of $9.61 billion. During the same quarter in the previous year, the business posted $3.90 EPS. The business’s quarterly revenue was up 2.5% on a year-over-year basis. On average, analysts expect that D.R. Horton, Inc. will post 14.03 EPS for the current year.

D.R. Horton Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 8th. Stockholders of record on Thursday, August 1st were paid a $0.30 dividend. The ex-dividend date was Thursday, August 1st. This represents a $1.20 annualized dividend and a dividend yield of 0.63%. D.R. Horton’s dividend payout ratio (DPR) is presently 8.17%.

D.R. Horton declared that its board has approved a stock buyback program on Thursday, July 18th that allows the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization allows the construction company to reacquire 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.

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.