UBS Group Cuts D.R. Horton (NYSE:DHI) Price Target to $214.00

D.R. Horton (NYSE:DHI) had its price target decreased by UBS Group from $217.00 to $214.00 in a research report sent to investors on Wednesday, Benzinga reports. UBS Group currently has a buy rating on the construction company’s stock.

DHI has been the subject of several other research reports. JMP Securities boosted their price target on shares of D.R. Horton from $170.00 to $210.00 and gave the stock a “market outperform” rating in a report on Friday, July 19th. Evercore ISI dropped their target price on D.R. Horton from $218.00 to $204.00 and set an “outperform” rating on the stock in a report on Wednesday. Royal Bank of Canada raised their price target 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. Wedbush raised D.R. Horton from an “underperform” rating to a “neutral” rating and set a $165.00 price objective for the company in a research report on Tuesday, October 15th. Finally, JPMorgan Chase & Co. raised their target price on D.R. Horton from $163.00 to $180.00 and gave the stock a “neutral” rating in a research report 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $185.33.

D.R. Horton Stock Down 0.8 %

Shares of NYSE DHI opened at $167.64 on Wednesday. The stock 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. The business’s fifty day simple moving average is $186.47 and its 200-day simple moving average is $165.44. D.R. Horton has a 12-month low of $111.59 and a 12-month high of $199.85. The company has a current ratio of 7.32, a quick ratio of 1.30 and a debt-to-equity ratio of 0.23.

D.R. Horton (NYSE:DHI) last posted 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 $4.17 by ($0.25). D.R. Horton had a net margin of 12.93% and a return on equity of 19.24%. The company had revenue of $10 billion during the quarter, compared to analyst estimates of $10.22 billion. During the same period in the prior year, the business earned $4.45 EPS. D.R. Horton’s revenue for the quarter was down 4.7% on a year-over-year basis. As a group, equities analysts predict that D.R. Horton will post 15.87 EPS for the current fiscal year.

D.R. Horton declared that its Board of Directors has authorized a stock repurchase plan on Thursday, July 18th that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the construction company to purchase up to 6.9% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

D.R. Horton Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 19th. Investors of record on Tuesday, November 12th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.95%. The ex-dividend date is Tuesday, November 12th. This is a boost from D.R. Horton’s previous quarterly dividend of $0.30. D.R. Horton’s payout ratio is 8.36%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Bfsg LLC grew its position in D.R. Horton by 70.5% in the 2nd quarter. Bfsg LLC now owns 179 shares of the construction company’s stock valued at $25,000 after buying an additional 74 shares during the last quarter. RiverPark Advisors LLC acquired a new stake in shares of D.R. Horton in the 1st quarter worth $29,000. Signature Resources Capital Management LLC purchased a new stake in shares of D.R. Horton in the second quarter valued at about $31,000. Wolff Wiese Magana LLC increased its stake in shares of D.R. Horton by 1,306.7% during the third quarter. Wolff Wiese Magana LLC now owns 211 shares of the construction company’s stock worth $40,000 after acquiring an additional 196 shares during the period. Finally, Grove Bank & Trust raised its holdings in D.R. Horton by 76.2% during the third quarter. Grove Bank & Trust now owns 215 shares of the construction company’s stock worth $41,000 after purchasing an additional 93 shares in the last quarter. Institutional investors and hedge funds 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.