Wedbush Upgrades D.R. Horton (NYSE:DHI) to Neutral

D.R. Horton (NYSE:DHI) was upgraded by investment analysts at Wedbush from an “underperform” rating to a “neutral” rating in a report released on Tuesday, MarketBeat reports. The brokerage presently has a $165.00 price target on the construction company’s stock. Wedbush’s target price indicates a potential downside of 14.23% from the stock’s previous close.

Several other equities analysts have also weighed in on DHI. Royal Bank of Canada increased their price target on shares of D.R. Horton from $141.00 to $154.00 and gave the company an “underperform” rating in a research report on Friday, July 19th. Citigroup lowered shares of D.R. Horton from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $181.00 to $156.00 in a research note on Tuesday, July 2nd. Keefe, Bruyette & Woods upped their price objective on D.R. Horton from $178.00 to $208.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. JMP Securities increased their price objective on D.R. Horton from $170.00 to $210.00 and gave the company a “market outperform” rating in a report on Friday, July 19th. Finally, Barclays boosted their target price on D.R. Horton from $168.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $185.67.

D.R. Horton Price Performance

Shares of NYSE DHI opened at $192.38 on Tuesday. The company has a market capitalization of $63.35 billion, a PE ratio of 13.10, a PEG ratio of 0.78 and a beta of 1.72. The company has a quick ratio of 1.30, a current ratio of 7.22 and a debt-to-equity ratio of 0.23. The stock’s 50 day moving average price is $186.42 and its 200-day moving average price is $163.36. D.R. Horton has a twelve month low of $100.08 and a twelve month high of $199.85.

D.R. Horton (NYSE:DHI) last posted its quarterly earnings data on Thursday, July 18th. The construction company reported $4.10 earnings per share for the quarter, topping the consensus estimate of $3.75 by $0.35. The business had revenue of $9.97 billion for the quarter, compared to analysts’ expectations of $9.61 billion. D.R. Horton had a return on equity of 20.72% and a net margin of 13.36%. The business’s revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.90 earnings per share. On average, equities analysts anticipate that D.R. Horton will post 14.03 EPS for the current year.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in DHI. Bleakley Financial Group LLC raised its position in shares of D.R. Horton by 4.5% in the third quarter. Bleakley Financial Group LLC now owns 7,128 shares of the construction company’s stock worth $1,360,000 after buying an additional 304 shares in the last quarter. Global Retirement Partners LLC raised its holdings in shares of D.R. Horton by 5.3% in the 3rd quarter. Global Retirement Partners LLC now owns 5,957 shares of the construction company’s stock valued at $1,136,000 after acquiring an additional 301 shares in the last quarter. Bfsg LLC grew its holdings in shares of D.R. Horton by 117.3% during the third quarter. Bfsg LLC now owns 389 shares of the construction company’s stock worth $74,000 after purchasing an additional 210 shares in the last quarter. Rheos Capital Works Inc. increased its position in shares of D.R. Horton by 84.4% in the third quarter. Rheos Capital Works Inc. now owns 83,000 shares of the construction company’s stock worth $15,834,000 after purchasing an additional 38,000 shares during the last quarter. Finally, Wolff Wiese Magana LLC raised its stake in D.R. Horton by 1,306.7% in the third quarter. Wolff Wiese Magana LLC now owns 211 shares of the construction company’s stock valued at $40,000 after purchasing an additional 196 shares in the last quarter. 90.63% of the stock is currently owned by hedge funds and other institutional investors.

D.R. Horton Company Profile

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.