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

Wedbush upgraded shares of D.R. Horton (NYSE:DHI) from an underperform rating to a neutral rating in a research note issued to investors on Tuesday, Marketbeat.com reports. Wedbush currently has $165.00 price objective on the construction company’s stock.

Other analysts have also issued reports about the company. UBS Group boosted their target price on D.R. Horton from $200.00 to $217.00 and gave the company a buy rating in a research report on Friday, July 19th. Barclays upped their target price on D.R. Horton from $168.00 to $200.00 and gave the stock an overweight rating in a research report on Friday, July 19th. JMP Securities boosted 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 note on Friday, July 19th. Keefe, Bruyette & Woods boosted their price target on shares of D.R. Horton from $178.00 to $208.00 and gave the company an outperform rating in a research note on Tuesday, July 23rd. Finally, Bank of America raised their price objective on shares of D.R. Horton from $196.00 to $215.00 and gave the company a buy rating in a research note on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $185.67.

D.R. Horton Price Performance

Shares of DHI opened at $189.40 on Tuesday. The firm has a market cap of $62.37 billion, a PE ratio of 12.89, a price-to-earnings-growth ratio of 0.78 and a beta of 1.72. D.R. Horton has a 52-week low of $100.08 and a 52-week high of $199.85. The business’s 50 day moving average price is $185.95 and its two-hundred day moving average price is $163.16. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.30 and a current ratio of 7.22.

D.R. Horton (NYSE:DHI) last released 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 company had revenue of $9.97 billion for the quarter, compared to the consensus estimate of $9.61 billion. D.R. Horton had a net margin of 13.36% and a return on equity of 20.72%. D.R. Horton’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.90 EPS. On average, equities analysts anticipate that D.R. Horton will post 14.03 EPS for the current year.

D.R. Horton Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 8th. Investors of record on Thursday, August 1st were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date of this dividend was Thursday, August 1st. D.R. Horton’s dividend payout ratio (DPR) is currently 8.17%.

D.R. Horton announced that its Board of Directors has approved a stock repurchase program on Thursday, July 18th that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the construction company to reacquire up to 6.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On D.R. Horton

Several large investors have recently modified their holdings of DHI. Integrated Advisors Network LLC purchased a new position in shares of D.R. Horton during the 4th quarter valued at $265,000. Fisher Asset Management LLC boosted its position in D.R. Horton by 0.4% during the fourth quarter. Fisher Asset Management LLC now owns 242,192 shares of the construction company’s stock worth $36,808,000 after purchasing an additional 956 shares during the period. SageView Advisory Group LLC purchased a new position in shares of D.R. Horton in the fourth quarter worth about $253,000. HighPoint Advisor Group LLC bought a new stake in shares of D.R. Horton in the fourth quarter valued at approximately $700,000. Finally, Nomura Holdings Inc. lifted its stake in shares of D.R. Horton by 125.4% during the 4th quarter. Nomura Holdings Inc. now owns 6,086 shares of the construction company’s stock valued at $925,000 after buying an additional 30,068 shares in the last quarter. Hedge funds and other 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.