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

D.R. Horton (NYSE:DHI) had its target price reduced by Wells Fargo & Company from $220.00 to $190.00 in a research report report published on Wednesday, Benzinga reports. They currently have an overweight rating on the construction company’s stock.

DHI has been the topic of a number of other research reports. Keefe, Bruyette & Woods lifted their price target on D.R. Horton from $178.00 to $208.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. Wedbush raised D.R. Horton from an “underperform” rating to a “neutral” rating and set a $165.00 price target on the stock in a research note on Tuesday, October 15th. UBS Group lifted their price target on D.R. Horton from $200.00 to $217.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. JMP Securities lifted their target price on D.R. Horton from $170.00 to $210.00 and gave the company a “market outperform” rating in a research note on Friday, July 19th. Finally, JPMorgan Chase & Co. lifted their target price on D.R. Horton from $163.00 to $180.00 and gave the company a “neutral” rating in a research note on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, D.R. Horton currently has an average rating of “Moderate Buy” and a consensus target price of $185.33.

D.R. Horton Price Performance

NYSE:DHI opened at $167.64 on Wednesday. The business’s 50-day moving average price is $186.47 and its 200 day moving average price is $165.44. The firm has a market cap of $54.62 billion, a P/E ratio of 11.67, a PEG ratio of 0.57 and a beta of 1.72. D.R. Horton has a 52-week low of $111.59 and a 52-week high of $199.85. The company has a quick ratio of 1.30, a current ratio of 7.32 and a debt-to-equity ratio of 0.23.

D.R. Horton (NYSE:DHI) last issued its quarterly earnings results on Tuesday, October 29th. The construction company reported $3.92 earnings per share for the quarter, missing analysts’ consensus estimates of $4.17 by ($0.25). The company had revenue of $10 billion during the quarter, compared to analysts’ expectations of $10.22 billion. D.R. Horton had a return on equity of 19.24% and a net margin of 12.93%. The company’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same period in the prior year, the business posted $4.45 EPS. As a group, sell-side analysts predict that D.R. Horton will post 15.87 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 Tuesday, November 19th. Stockholders of record on Tuesday, November 12th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.95%. This is a positive change from D.R. Horton’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Tuesday, November 12th. D.R. Horton’s payout ratio is currently 8.36%.

D.R. Horton announced that its Board of Directors has initiated a stock buyback plan on Thursday, July 18th that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the construction company to repurchase up to 6.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On D.R. Horton

Several institutional investors have recently made changes to their positions in the company. Bfsg LLC lifted its holdings in D.R. Horton by 70.5% in the 2nd quarter. Bfsg LLC now owns 179 shares of the construction company’s stock worth $25,000 after purchasing an additional 74 shares during the last quarter. RiverPark Advisors LLC acquired a new stake in D.R. Horton in the 1st quarter worth approximately $29,000. Signature Resources Capital Management LLC acquired a new stake in D.R. Horton in the 2nd quarter worth approximately $31,000. Wolff Wiese Magana LLC lifted its holdings in D.R. Horton by 1,306.7% in the 3rd quarter. Wolff Wiese Magana LLC now owns 211 shares of the construction company’s stock worth $40,000 after purchasing an additional 196 shares during the last quarter. Finally, Grove Bank & Trust lifted its holdings in D.R. Horton by 76.2% in the 3rd quarter. Grove Bank & Trust now owns 215 shares of the construction company’s stock worth $41,000 after purchasing an additional 93 shares during the last quarter. 90.63% of the stock is currently owned by institutional investors and hedge funds.

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.