D.R. Horton (NYSE:DHI) Given New $204.00 Price Target at Evercore ISI

D.R. Horton (NYSE:DHI) had its price target cut by stock analysts at Evercore ISI from $218.00 to $204.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the construction company’s stock. Evercore ISI’s price target indicates a potential upside of 19.92% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. Keefe, Bruyette & Woods increased their price objective on D.R. Horton from $178.00 to $208.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. JPMorgan Chase & Co. boosted their price objective on D.R. Horton from $163.00 to $180.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. Wells Fargo & Company lowered their target price on shares of D.R. Horton from $220.00 to $190.00 and set an “overweight” rating on the stock in a research note on Wednesday. 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 report on Thursday, September 19th. Finally, Royal Bank of Canada increased their target price on D.R. Horton from $141.00 to $154.00 and gave the company an “underperform” rating in a research note on Friday, July 19th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $183.40.

D.R. Horton Price Performance

DHI traded up $2.79 during trading on Wednesday, reaching $170.11. 1,647,118 shares of the company were exchanged, compared to its average volume of 2,466,114. D.R. Horton has a 12-month low of $102.23 and a 12-month high of $199.85. The company’s 50-day moving average is $187.63 and its two-hundred day moving average is $165.12. 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 company has a market cap of $56.02 billion, a price-to-earnings ratio of 11.59, a P/E/G ratio of 0.78 and a beta of 1.72.

D.R. Horton (NYSE:DHI) last announced its quarterly earnings results on Tuesday, October 29th. The construction company reported $3.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.20 by ($0.28). The firm 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 20.72% and a net margin of 13.36%. The company’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same period in the previous year, the company posted $4.45 earnings per share. Research analysts forecast that D.R. Horton will post 14.03 earnings per share for the current fiscal year.

D.R. Horton announced that its board has initiated a share 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 buy up to 6.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On D.R. Horton

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in D.R. Horton by 7.6% during the first quarter. Vanguard Group Inc. now owns 34,856,397 shares of the construction company’s stock worth $5,735,620,000 after acquiring an additional 2,474,262 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of D.R. Horton by 1,761.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,043,909 shares of the construction company’s stock valued at $147,118,000 after purchasing an additional 987,834 shares during the last quarter. Principal Financial Group Inc. raised its holdings in D.R. Horton by 51.2% during the 2nd quarter. Principal Financial Group Inc. now owns 1,657,028 shares of the construction company’s stock valued at $233,525,000 after buying an additional 561,337 shares during the period. Long Pond Capital LP raised its holdings in D.R. Horton by 438.6% during the 1st quarter. Long Pond Capital LP now owns 659,761 shares of the construction company’s stock valued at $108,564,000 after buying an additional 537,276 shares during the period. Finally, National Bank of Canada FI lifted its position in D.R. Horton by 265.6% in the first quarter. National Bank of Canada FI now owns 488,376 shares of the construction company’s stock worth $73,239,000 after buying an additional 354,789 shares during the last quarter. 90.63% of the stock is owned by hedge funds and other institutional investors.

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.