Wells Fargo & Company Lowers D.R. Horton (NYSE:DHI) Price Target to $190.00

D.R. Horton (NYSE:DHIGet Free Report) had its target price lowered by research analysts at Wells Fargo & Company from $220.00 to $190.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the construction company’s stock. Wells Fargo & Company‘s target price points to a potential upside of 11.05% from the stock’s current price.

Several other analysts have also commented on DHI. Citigroup lowered D.R. Horton from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $181.00 to $156.00 in a report on Tuesday, July 2nd. Evercore ISI lifted their target price on shares of D.R. Horton from $191.00 to $205.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Bank of America increased their price target on shares of D.R. Horton from $196.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Keefe, Bruyette & Woods upped their price objective on shares of D.R. Horton from $178.00 to $208.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. Finally, JMP Securities raised their target price on D.R. Horton from $170.00 to $210.00 and gave the company a “market outperform” rating in a research report on Friday, July 19th. One research analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $183.40.

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D.R. Horton Stock Performance

Shares of NYSE DHI traded up $3.78 during midday trading on Wednesday, reaching $171.10. The company had a trading volume of 1,446,183 shares, compared to its average volume of 2,465,157. 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 business’s 50-day simple moving average is $187.63 and its 200 day simple moving average is $165.12. D.R. Horton has a 1 year low of $102.23 and a 1 year high of $199.85. The stock has a market cap of $56.35 billion, a P/E ratio of 11.59, a P/E/G ratio of 0.78 and a beta of 1.72.

D.R. Horton (NYSE:DHIGet Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The construction company reported $3.92 EPS for the quarter, missing the consensus estimate of $4.20 by ($0.28). The business had revenue of $10 billion for the quarter, compared to analyst estimates of $10.22 billion. D.R. Horton had a net margin of 13.36% and a return on equity of 20.72%. The business’s revenue was down 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.45 earnings per share. On average, analysts forecast that D.R. Horton will post 14.03 earnings per share for the current fiscal year.

D.R. Horton declared that its board has authorized a share repurchase program on Thursday, July 18th that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the construction company to repurchase up to 6.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Institutional Trading of D.R. Horton

A number of hedge funds have recently bought and sold shares of DHI. Concurrent Investment Advisors LLC purchased a new stake in shares of D.R. Horton in the first quarter valued at approximately $1,249,000. BI Asset Management Fondsmaeglerselskab A S grew its holdings in D.R. Horton by 85.9% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 35,167 shares of the construction company’s stock valued at $5,787,000 after buying an additional 16,252 shares in the last quarter. Bessemer Group Inc. increased its stake in shares of D.R. Horton by 107.6% in the 1st quarter. Bessemer Group Inc. now owns 14,857 shares of the construction company’s stock worth $2,444,000 after acquiring an additional 7,699 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of D.R. Horton by 92.3% during the 1st quarter. Canada Pension Plan Investment Board now owns 415,968 shares of the construction company’s stock worth $68,448,000 after acquiring an additional 199,668 shares during the period. Finally, Concord Investment Counsel Inc. acquired a new position in shares of D.R. Horton during the 1st quarter valued at about $4,161,000. Institutional investors and hedge funds own 90.63% of the company’s stock.

About D.R. Horton

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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.

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