Royal Bank Of Canada Raises D.R. Horton, Inc. (DHI) Price Target to $42.00

D.R. Horton, Inc. (NYSE:DHI) had its price objective lifted by research analysts at Royal Bank Of Canada from $37.00 to $42.00 in a research note issued to investors on Thursday, July 13th, MarketBeat Ratings reports. The firm currently has an “outperform” rating on the construction company’s stock. Royal Bank Of Canada’s target price would indicate a potential upside of 15.86% from the stock’s previous close.

DHI has been the topic of several other reports. BidaskClub upgraded shares of D.R. Horton from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Wedbush reaffirmed an “outperform” rating and set a $36.00 price objective on shares of D.R. Horton in a research report on Thursday, April 13th. Credit Suisse Group initiated coverage on shares of D.R. Horton in a research report on Thursday, June 22nd. They set an “outperform” rating and a $38.00 price objective for the company. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $38.00 target price on shares of D.R. Horton in a report on Tuesday, June 6th. Finally, Bank of America Corporation reissued a “buy” rating and issued a $42.00 target price (up previously from $41.00) on shares of D.R. Horton in a report on Tuesday, June 27th. One analyst has rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $36.59.

Shares of D.R. Horton (NYSE DHI) opened at 36.25 on Thursday. The stock has a market capitalization of $13.57 billion, a PE ratio of 13.58 and a beta of 1.25. The stock’s 50 day moving average is $35.49 and its 200 day moving average is $33.16. D.R. Horton has a 52 week low of $26.69 and a 52 week high of $37.44.

D.R. Horton (NYSE:DHI) last released its quarterly earnings data on Wednesday, July 26th. The construction company reported $0.76 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.01. D.R. Horton had a net margin of 7.38% and a return on equity of 14.19%. The firm had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.71 billion. During the same period in the previous year, the company earned $0.66 earnings per share. The company’s quarterly revenue was up 17.0% on a year-over-year basis. Analysts anticipate that D.R. Horton will post $2.78 EPS for the current fiscal year.

D.R. Horton announced that its board has approved a share buyback program on Wednesday, July 26th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the construction company to purchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

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In other news, Director Barbara K. Allen sold 1,666 shares of D.R. Horton stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $36.03, for a total transaction of $60,025.98. Following the sale, the director now directly owns 7,316 shares in the company, valued at approximately $263,595.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 7.20% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Commerce Bank boosted its stake in D.R. Horton by 0.8% in the second quarter. Commerce Bank now owns 149,491 shares of the construction company’s stock worth $5,168,000 after buying an additional 1,116 shares during the last quarter. Taylor Asset Management Inc. raised its stake in shares of D.R. Horton by 31.0% in the second quarter. Taylor Asset Management Inc. now owns 22,400 shares of the construction company’s stock valued at $774,000 after buying an additional 5,300 shares during the period. Capital Analysts LLC raised its stake in shares of D.R. Horton by 4.4% in the second quarter. Capital Analysts LLC now owns 90,829 shares of the construction company’s stock valued at $3,140,000 after buying an additional 3,841 shares during the period. Cambridge Investment Research Advisors Inc. raised its stake in shares of D.R. Horton by 63.9% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 29,171 shares of the construction company’s stock valued at $1,008,000 after buying an additional 11,375 shares during the period. Finally, CFO4Life Group LLC raised its stake in shares of D.R. Horton by 38.2% in the second quarter. CFO4Life Group LLC now owns 14,188 shares of the construction company’s stock valued at $490,000 after buying an additional 3,922 shares during the period. Institutional investors own 82.41% of the company’s stock.

D.R. Horton Company Profile

D.R. Horton, Inc is a homebuilding company. The Company constructed and sold homes in 27 states and 79 markets, as of September 30, 2015. The Company’s segments include its 39 homebuilding divisions, its financial services operations and its other business activities. In the homebuilding segment, the Company builds and sells single-family detached homes and attached homes, such as town homes, duplexes, triplexes and condominiums.

Analyst Recommendations for D.R. Horton (NYSE:DHI)

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