D.R. Horton (NYSE:DHI) Reaches New 52-Week High at $199.40

Shares of D.R. Horton, Inc. (NYSE:DHI) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $199.40 and last traded at $196.27, with a volume of 54030 shares trading hands. The stock had previously closed at $194.19.

Analysts Set New Price Targets

Several research firms have recently issued reports on DHI. Royal Bank of Canada raised 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 note on Friday, July 19th. Keefe, Bruyette & Woods raised 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. JPMorgan Chase & Co. increased their price objective on shares of D.R. Horton from $163.00 to $180.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. Bank of America increased their price objective on shares of D.R. Horton from $168.00 to $196.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Finally, Citigroup cut shares of D.R. Horton from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $181.00 to $156.00 in a research report on Tuesday, July 2nd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $182.07.

D.R. Horton Price Performance

The stock has a market capitalization of $64.66 billion, a price-to-earnings ratio of 13.22, a PEG ratio of 0.86 and a beta of 1.73. The business’s fifty day moving average price is $179.00 and its 200-day moving average price is $158.81. The company has a debt-to-equity ratio of 0.23, a current ratio of 7.22 and a quick ratio of 1.30.

D.R. Horton (NYSE:DHI) last released its quarterly earnings results on Thursday, July 18th. The construction company reported $4.10 earnings per share for the quarter, beating analysts’ consensus estimates of $3.75 by $0.35. D.R. Horton had a net margin of 13.36% and a return on equity of 20.72%. The company had revenue of $9.97 billion for the quarter, compared to analyst estimates of $9.61 billion. During the same period last year, the firm earned $3.90 earnings per share. The firm’s revenue was up 2.5% on a year-over-year basis. On average, research analysts forecast that D.R. Horton, Inc. will post 14.03 EPS for the current year.

D.R. Horton Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 8th. Investors of record on Thursday, August 1st were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date of this dividend was Thursday, August 1st. D.R. Horton’s payout ratio 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 Trading of D.R. Horton

Several hedge funds have recently added to or reduced their stakes in the stock. Premier Path Wealth Partners LLC raised its position in D.R. Horton by 1.0% in the second quarter. Premier Path Wealth Partners LLC now owns 6,186 shares of the construction company’s stock worth $872,000 after acquiring an additional 59 shares during the period. Coldstream Capital Management Inc. raised its position in D.R. Horton by 1.2% in the second quarter. Coldstream Capital Management Inc. now owns 5,245 shares of the construction company’s stock worth $739,000 after acquiring an additional 60 shares during the period. Whittier Trust Co. raised its position in D.R. Horton by 1.7% in the second quarter. Whittier Trust Co. now owns 3,693 shares of the construction company’s stock worth $520,000 after acquiring an additional 63 shares during the period. Values First Advisors Inc. increased its stake in shares of D.R. Horton by 0.7% in the second quarter. Values First Advisors Inc. now owns 8,878 shares of the construction company’s stock worth $1,251,000 after purchasing an additional 66 shares in the last quarter. Finally, Studio Investment Management LLC increased its stake in shares of D.R. Horton by 0.3% in the second quarter. Studio Investment Management LLC now owns 23,770 shares of the construction company’s stock worth $3,350,000 after purchasing an additional 70 shares in the last quarter. Institutional investors own 90.63% of the company’s stock.

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.