D.R. Horton, Inc. (DHI) Price Target Increased to $55.00 by Analysts at Bank of America Corporation

D.R. Horton, Inc. (NYSE:DHI) had its price objective increased by research analysts at Bank of America Corporation from $43.00 to $55.00 in a report issued on Friday. The firm presently has a “buy” rating on the construction company’s stock. Bank of America Corporation’s target price suggests a potential upside of 35.40% from the company’s previous close.

Several other brokerages also recently weighed in on DHI. Wells Fargo & Company reaffirmed an “outperform” rating and issued a $41.00 target price (up previously from $39.00) on shares of D.R. Horton in a research report on Monday, July 10th. Credit Suisse Group AG initiated coverage on D.R. Horton in a research report on Thursday, June 22nd. They issued an “outperform” rating and a $38.00 target price for the company. Wedbush upped their target price on D.R. Horton from $36.00 to $42.00 and gave the stock an “outperform” rating in a research report on Monday, July 17th. Royal Bank Of Canada upped their target price on D.R. Horton from $37.00 to $42.00 and gave the stock an “outperform” rating in a research report on Thursday, July 13th. Finally, BidaskClub raised D.R. Horton from a “sell” rating to a “hold” rating in a research report on Monday, August 14th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. D.R. Horton has a consensus rating of “Buy” and an average price target of $37.62.

Shares of D.R. Horton (NYSE:DHI) opened at 40.62 on Friday. D.R. Horton has a 52-week low of $26.69 and a 52-week high of $41.06. The firm has a 50-day moving average price of $37.08 and a 200-day moving average price of $34.96. The firm has a market cap of $15.20 billion, a price-to-earnings ratio of 15.22 and a beta of 1.24.

D.R. Horton (NYSE:DHI) last issued its earnings results on Wednesday, July 26th. The construction company reported $0.76 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.01. D.R. Horton had a return on equity of 14.19% and a net margin of 7.38%. The company had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.71 billion. During the same quarter in the prior year, the business earned $0.66 earnings per share. The company’s revenue was up 17.0% compared to the same quarter last year. Analysts predict that D.R. Horton will post $2.75 EPS for the current fiscal year.

D.R. Horton declared that its board has approved a stock buyback program on Wednesday, July 26th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the construction company to reacquire shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

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In related news, Director Barbara K. Allen sold 1,666 shares of the business’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $36.03, for a total value of $60,025.98. Following the transaction, the director now owns 7,316 shares in the company, valued at $263,595.48. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Michael R. Buchanan sold 9,000 shares of the business’s stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $37.06, for a total value of $333,540.00. Following the completion of the transaction, the director now owns 24,880 shares in the company, valued at approximately $922,052.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,666 shares of company stock worth $912,606. Insiders own 7.20% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the stock. Lord Abbett & CO. LLC lifted its stake in shares of D.R. Horton by 16.7% in the second quarter. Lord Abbett & CO. LLC now owns 165,000 shares of the construction company’s stock worth $5,704,000 after acquiring an additional 23,600 shares in the last quarter. Toronto Dominion Bank lifted its stake in shares of D.R. Horton by 23.7% in the second quarter. Toronto Dominion Bank now owns 120,832 shares of the construction company’s stock worth $4,177,000 after acquiring an additional 23,143 shares in the last quarter. Cetera Investment Advisers acquired a new position in shares of D.R. Horton in the second quarter worth about $216,000. Advisory Services Network LLC lifted its stake in shares of D.R. Horton by 131.9% in the second quarter. Advisory Services Network LLC now owns 3,956 shares of the construction company’s stock worth $137,000 after acquiring an additional 2,250 shares in the last quarter. Finally, Public Employees Retirement System of Ohio lifted its stake in shares of D.R. Horton by 0.3% in the second quarter. Public Employees Retirement System of Ohio now owns 217,005 shares of the construction company’s stock worth $7,502,000 after acquiring an additional 565 shares in the last quarter. Institutional investors and hedge funds own 82.29% 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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