D.R. Horton (NYSE:DHI) Shares Break Above 200-Day Moving Average Following Analyst Downgrade

D.R. Horton, Inc. (NYSE:DHI)’s stock price crossed above its 200-day moving average during trading on Monday after Citigroup raised their price target on the stock from $150.00 to $152.00. The stock has a 200-day moving average of $147.66 and traded as high as $153.53. Citigroup currently has a neutral rating on the stock. D.R. Horton shares last traded at $152.9060, with a volume of 3,191,507 shares changing hands.

A number of other equities research analysts have also issued reports on DHI. Zelman & Associates raised D.R. Horton from a “neutral” rating to an “outperform” rating in a research report on Tuesday, July 7th. Keefe, Bruyette & Woods decreased their price target on D.R. Horton from $160.00 to $152.00 in a research report on Thursday, October 22nd. Stonex Financia raised D.R. Horton to a “hold” rating in a research note on Thursday, October 15th. Weiss Ratings raised D.R. Horton from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, October 15th. Finally, Bank of America cut their price objective on D.R. Horton from $150.00 to $145.00 in a report on Wednesday, October 7th. Five investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, D.R. Horton presently has a consensus rating of “Hold” and an average target price of $152.73.

Institutional Trading of D.R. Horton

Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in D.R. Horton in the 2nd quarter valued at approximately $4,067,842,000. Bank of America Corp DE purchased a new position in shares of D.R. Horton during the 2nd quarter valued at $477,358,000. Bank of New York Mellon Corp acquired a new position in shares of D.R. Horton in the second quarter worth $294,292,000. Legal & General Group Plc acquired a new position in shares of D.R. Horton in the second quarter worth $280,664,000. Finally, Deutsche Bank AG purchased a new stake in shares of D.R. Horton during the second quarter worth $201,077,000. 90.63% of the stock is owned by institutional investors and hedge funds.

D.R. Horton Trading Up 4.7%

The company has a debt-to-equity ratio of 0.29, a current ratio of 6.43 and a quick ratio of 1.04. The company has a fifty day moving average of $140.85 and a 200-day moving average of $147.66. The firm has a market capitalization of $42.77 billion, a PE ratio of 15.08, a price-to-earnings-growth ratio of 2.23 and a beta of 1.35.

D.R. Horton (NYSE:DHI) last issued its earnings results on Thursday, October 29th. The construction company reported $2.67 EPS for the quarter, missing analysts’ consensus estimates of $3.01 by ($0.34). D.R. Horton had a net margin of 9.15% and a return on equity of 12.47%. The firm had revenue of $9.37 billion during the quarter, compared to analysts’ expectations of $9.07 billion. During the same quarter last year, the firm earned $3.04 EPS. The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. On average, sell-side analysts anticipate that D.R. Horton, Inc. will post 11.35 earnings per share for the current fiscal year.

D.R. Horton Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Stockholders of record on Thursday, November 12th will be issued a dividend of $0.50 per share. The ex-dividend date is Thursday, November 12th. This represents a $2.00 annualized dividend and a dividend yield of 1.3%. This is a positive change from D.R. Horton’s previous quarterly dividend of $0.45. D.R. Horton’s dividend payout ratio is presently 17.75%.

D.R. Horton Company Profile

D.R. Horton, Inc is a residential construction company that builds and sells single-family detached and attached homes in the United States. Its offerings include entry-level, move-up, luxury and active-adult housing, serving a range of homebuyers through brands such as D.R. Horton, Express Homes, Emerald Homes and Freedom Homes.

The company’s operations also include land acquisition and development, home financing and title services. Through subsidiaries and affiliated businesses, D.R.