D.R. Horton (NYSE:DHI) Stock Gets Price Target Reduction from Citigroup

D.R. Horton (NYSE:DHI) had its price target reduced by equities research analysts at Citigroup from $160.00 to $150.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the construction company’s stock. Citigroup’s price target would suggest a potential upside of 7.86% from the stock’s previous close.

Other analysts also recently issued research reports about the company. Barclays dropped their price objective on D.R. Horton from $141.00 to $130.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 6th. Royal Bank Of Canada lowered their price target on D.R. Horton from $125.00 to $119.00 and set an “underperform” rating for the company in a report on Thursday. Melius Research started coverage on D.R. Horton in a research report on Tuesday, October 6th. They set a “sell” rating and a $128.00 price target on the stock. Wells Fargo & Company cut their price objective on D.R. Horton from $155.00 to $145.00 and set an “equal weight” rating on the stock in a report on Friday, September 11th. Finally, Truist Financial cut their price objective on D.R. Horton from $150.00 to $140.00 and set a “hold” rating on the stock in a report on Wednesday, September 16th. Five equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $156.71.

D.R. Horton Trading Up 4.1%

NYSE:DHI traded up $5.43 on Thursday, hitting $139.07. 1,279,095 shares of the stock were exchanged, compared to its average volume of 2,691,905. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.04 and a current ratio of 6.43. D.R. Horton has a 52 week low of $130.40 and a 52 week high of $170.79. The stock has a market capitalization of $38.90 billion, a price-to-earnings ratio of 13.24, a P/E/G ratio of 2.10 and a beta of 1.35. The company’s 50-day moving average price is $141.93 and its 200 day moving average price is $146.43.

D.R. Horton (NYSE:DHI) last issued its earnings results on Tuesday, July 21st. The construction company reported $3.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.02 by $0.18. The company had revenue of $9.23 billion for the quarter, compared to analyst estimates of $9.10 billion. D.R. Horton had a net margin of 9.15% and a return on equity of 12.47%. The company’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter last year, the firm earned $3.36 EPS. On average, equities research analysts forecast that D.R. Horton will post 10.43 earnings per share for the current year.

Institutional Investors Weigh In On D.R. Horton

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DHI. BlackRock Inc. acquired a new stake in shares of D.R. Horton in the second quarter valued at about $4,067,842,000. Bank of America Corp DE acquired a new position in D.R. Horton during the second quarter valued at approximately $477,358,000. Bank of New York Mellon Corp bought a new position in D.R. Horton in the second quarter valued at approximately $294,292,000. Legal & General Group Plc bought a new position in D.R. Horton in the second quarter valued at approximately $280,664,000. Finally, Deutsche Bank AG bought a new position in D.R. Horton in the second quarter valued at approximately $201,077,000. 90.63% of the stock is currently owned by institutional investors and hedge funds.

About D.R. Horton

D.R. Horton, Inc is one of the largest homebuilding companies in the United States. Founded in 1978 by Donald R. Horton, the company develops and constructs single-family homes, townhomes and other residential properties for a range of buyers, including first-time, move-up and active-adult households.

The company operates through several homebuilding brands, including D.R. Horton, Express Homes, Emerald Homes and Freedom Homes. Its offerings generally span entry-level and affordable homes, move-up residences, luxury properties and age-qualified communities.