JPMorgan Chase & Co. Cuts D.R. Horton (NYSE:DHI) Price Target to $115.00

D.R. Horton (NYSE:DHI) had its price target decreased by equities researchers at JPMorgan Chase & Co. from $129.00 to $115.00 in a report released on Thursday, The Fly reports. The brokerage currently has an “overweight” rating on the construction company’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 32.66% from the stock’s current price.

Several other equities analysts also recently issued reports on DHI. Barclays decreased their price objective on shares of D.R. Horton from $114.00 to $109.00 and set an “overweight” rating for the company in a research note on Thursday, July 15th. BTIG Research dropped their target price on shares of D.R. Horton from $123.00 to $120.00 and set a “buy” rating for the company in a report on Tuesday, September 21st. Seaport Res Ptn reiterated a “buy” rating on shares of D.R. Horton in a research report on Monday, July 19th. Citigroup decreased their target price on shares of D.R. Horton from $106.00 to $104.00 and set a “buy” rating on the stock in a research report on Monday, September 27th. Finally, Raymond James upgraded shares of D.R. Horton from an “outperform” rating to a “strong-buy” rating and set a $110.00 target price on the stock in a research report on Friday, July 23rd. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $103.06.

Shares of D.R. Horton stock traded up $1.86 during trading hours on Thursday, reaching $86.69. 26,495 shares of the company were exchanged, compared to its average volume of 3,030,124. D.R. Horton has a 1 year low of $64.32 and a 1 year high of $106.89. The stock’s fifty day moving average is $91.01 and its 200 day moving average is $92.31. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.11 and a current ratio of 6.03. The firm has a market cap of $31.05 billion, a PE ratio of 8.51, a PEG ratio of 0.88 and a beta of 1.64.

D.R. Horton (NYSE:DHI) last posted its quarterly earnings data on Thursday, July 22nd. The construction company reported $3.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.81 by $0.25. D.R. Horton had a return on equity of 28.04% and a net margin of 14.06%. The business had revenue of $7.28 billion for the quarter, compared to analyst estimates of $7.17 billion. During the same quarter in the prior year, the company earned $1.72 earnings per share. The company’s revenue was up 35.1% on a year-over-year basis. Research analysts expect that D.R. Horton will post 11.25 earnings per share for the current year.

In other news, Director Michael W. Hewatt sold 2,342 shares of the stock in a transaction that occurred on Tuesday, July 27th. The shares were sold at an average price of $92.66, for a total transaction of $217,009.72. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.46% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hollencrest Capital Management bought a new stake in shares of D.R. Horton during the third quarter valued at approximately $291,000. Scout Investments Inc. boosted its stake in D.R. Horton by 40.8% in the third quarter. Scout Investments Inc. now owns 477,011 shares of the construction company’s stock valued at $40,055,000 after acquiring an additional 138,169 shares during the last quarter. Chatham Capital Group Inc. bought a new position in D.R. Horton in the third quarter valued at approximately $228,000. IFM Investors Pty Ltd boosted its stake in D.R. Horton by 0.8% in the third quarter. IFM Investors Pty Ltd now owns 45,375 shares of the construction company’s stock valued at $3,810,000 after acquiring an additional 355 shares during the last quarter. Finally, Private Capital Group LLC boosted its stake in D.R. Horton by 12.3% in the third quarter. Private Capital Group LLC now owns 4,671 shares of the construction company’s stock valued at $392,000 after acquiring an additional 512 shares during the last quarter. 81.08% of the stock is currently owned by institutional investors and hedge funds.

D.R. Horton Company Profile

D.R. Horton, Inc engages in the construction and sale of single-family housing. It operates through the following segments: Homebuilding and Financial Services. The Homebuilding segment includes the sub-segments East, Midwest, Southeast, South Central, Southwest and West regions. The Financial Services segment provides mortgage financing and title agency services to homebuyers in many of its homebuilding markets.

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