D.R. Horton (NYSE:DHI) Given New $204.00 Price Target at Evercore ISI

D.R. Horton (NYSE:DHI) had its price target trimmed by Evercore ISI from $218.00 to $204.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an outperform rating on the construction company’s stock.

Several other research analysts also recently weighed in on the company. Bank of America boosted their price target on D.R. Horton from $196.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, September 19th. JPMorgan Chase & Co. boosted their price target on D.R. Horton from $163.00 to $180.00 and gave the company a “neutral” rating in a report on Tuesday, July 23rd. Wells Fargo & Company cut their price target on D.R. Horton from $220.00 to $190.00 and set an “overweight” rating for the company in a report on Wednesday. Citigroup downgraded D.R. Horton from a “buy” rating to a “neutral” rating and cut their price target for the company from $181.00 to $156.00 in a report on Tuesday, July 2nd. Finally, Wedbush upgraded D.R. Horton from an “underperform” rating to a “neutral” rating and set a $165.00 price objective for the company in a report on Tuesday, October 15th. One 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $185.87.

D.R. Horton Price Performance

DHI stock opened at $169.29 on Wednesday. D.R. Horton has a 1 year low of $102.23 and a 1 year high of $199.85. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.30 and a current ratio of 7.22. The stock’s 50 day moving average price is $187.29 and its 200 day moving average price is $165.15. The firm has a market cap of $55.75 billion, a P/E ratio of 11.52, a PEG ratio of 0.78 and a beta of 1.72.

D.R. Horton (NYSE:DHI) last posted its earnings results on Tuesday, October 29th. The construction company reported $3.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.20 by ($0.28). D.R. Horton had a net margin of 13.36% and a return on equity of 20.72%. The company had revenue of $10 billion during the quarter, compared to analysts’ expectations of $10.22 billion. During the same period in the previous year, the company posted $4.45 EPS. D.R. Horton’s quarterly revenue was down 4.7% compared to the same quarter last year. On average, sell-side analysts expect that D.R. Horton will post 14.03 earnings per share for the current fiscal year.

D.R. Horton announced that its Board of Directors has initiated a stock repurchase plan on Thursday, July 18th that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the construction company to repurchase up to 6.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

D.R. Horton Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 19th. Investors of record on Tuesday, November 12th will be issued a $0.40 dividend. This is an increase from D.R. Horton’s previous quarterly dividend of $0.30. This represents a $1.60 annualized dividend and a yield of 0.95%. The ex-dividend date is Tuesday, November 12th. D.R. Horton’s dividend payout ratio is currently 8.17%.

Hedge Funds Weigh In On D.R. Horton

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DHI. Bfsg LLC boosted its position in D.R. Horton by 70.5% in the 2nd quarter. Bfsg LLC now owns 179 shares of the construction company’s stock valued at $25,000 after buying an additional 74 shares during the last quarter. RiverPark Advisors LLC purchased a new position in D.R. Horton in the 1st quarter valued at about $29,000. Signature Resources Capital Management LLC purchased a new position in D.R. Horton in the 2nd quarter valued at about $31,000. Wolff Wiese Magana LLC boosted its position in D.R. Horton by 1,306.7% in the 3rd quarter. Wolff Wiese Magana LLC now owns 211 shares of the construction company’s stock valued at $40,000 after buying an additional 196 shares during the last quarter. Finally, Grove Bank & Trust boosted its position in D.R. Horton by 76.2% in the 3rd quarter. Grove Bank & Trust now owns 215 shares of the construction company’s stock valued at $41,000 after buying an additional 93 shares during the last quarter. 90.63% of the stock is owned by hedge funds and other institutional investors.

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.