Bank of America Boosts D.R. Horton (NYSE:DHI) Price Target to $196.00

D.R. Horton (NYSE:DHI) had its price objective hoisted by Bank of America from $168.00 to $196.00 in a report issued on Monday, Benzinga reports. Bank of America currently has a buy rating on the construction company’s stock.

A number of other analysts have also recently issued reports on DHI. Keefe, Bruyette & Woods lifted their target price on shares of D.R. Horton from $172.00 to $178.00 and gave the company an outperform rating in a research note on Tuesday, May 7th. Jefferies Financial Group lifted their target price on shares of D.R. Horton from $141.00 to $153.00 and gave the company a hold rating in a research note on Friday, April 19th. Barclays lifted their target price on shares of D.R. Horton from $168.00 to $200.00 and gave the company an overweight rating in a research note on Friday, July 19th. Evercore ISI lifted their price target on shares of D.R. Horton from $191.00 to $205.00 and gave the company an outperform rating in a research report on Monday, July 15th. Finally, JMP Securities lifted their price target on shares of 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. Two analysts have rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Hold and an average price target of $175.60.

D.R. Horton Stock Performance

DHI stock opened at $172.70 on Monday. 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 has a market cap of $56.87 billion, a P/E ratio of 11.76, a P/E/G ratio of 0.79 and a beta of 1.71. The firm has a 50 day simple moving average of $147.24 and a 200 day simple moving average of $149.04. D.R. Horton has a 52 week low of $100.08 and a 52 week high of $178.71.

D.R. Horton (NYSE:DHI) last posted its earnings results on Thursday, July 18th. The construction company reported $4.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.75 by $0.35. The firm had revenue of $9.97 billion during the quarter, compared to analysts’ expectations of $9.61 billion. D.R. Horton had a net margin of 13.36% and a return on equity of 20.72%. The company’s revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the company earned $3.90 earnings per share. Research analysts anticipate that D.R. Horton will post 14.44 earnings per share for the current fiscal year.

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

D.R. Horton Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Thursday, August 1st will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date is Thursday, August 1st. D.R. Horton’s dividend payout ratio (DPR) is currently 8.17%.

Insider Buying and Selling

In related news, Director Michael R. Buchanan sold 2,000 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $150.70, for a total transaction of $301,400.00. Following the transaction, the director now owns 1,703 shares of the company’s stock, valued at $256,642.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.74% of the stock is currently owned by insiders.

Institutional Investors Weigh In On D.R. Horton

Several institutional investors and hedge funds have recently bought and sold shares of DHI. Mutual Advisors LLC bought a new stake in D.R. Horton in the 4th quarter valued at $219,000. HB Wealth Management LLC increased its holdings in D.R. Horton by 2.9% in the 4th quarter. HB Wealth Management LLC now owns 8,648 shares of the construction company’s stock valued at $1,314,000 after buying an additional 245 shares during the period. Wealthsource Partners LLC increased its holdings in D.R. Horton by 2.7% in the 4th quarter. Wealthsource Partners LLC now owns 2,926 shares of the construction company’s stock valued at $445,000 after buying an additional 78 shares during the period. CoreCap Advisors LLC bought a new stake in D.R. Horton in the 4th quarter valued at $317,000. Finally, CHICAGO TRUST Co NA bought a new stake in D.R. Horton in the 4th quarter valued at $274,000. Institutional investors own 90.63% of the company’s stock.

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.