Evercore ISI Cuts D.R. Horton (NYSE:DHI) Price Target to $204.00

D.R. Horton (NYSE:DHI) had its price target trimmed by Evercore ISI from $218.00 to $204.00 in a report published on Wednesday, Benzinga reports. The firm currently has an outperform rating on the construction company’s stock.

DHI has been the subject of several other research reports. JMP Securities increased their target price on D.R. Horton from $170.00 to $210.00 and gave the company a “market outperform” rating in a research note on Friday, July 19th. Wells Fargo & Company decreased their target price on D.R. Horton from $220.00 to $190.00 and set an “overweight” rating for the company in a research note on Wednesday. Bank of America upped their price target on D.R. Horton from $196.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Barclays upped their price target on D.R. Horton from $168.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, July 19th. Finally, Royal Bank of Canada upped their price target on D.R. Horton from $141.00 to $154.00 and gave the company an “underperform” rating in a report on Friday, July 19th. One investment 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 data from MarketBeat.com, D.R. Horton has an average rating of “Moderate Buy” and a consensus target price of $185.33.

D.R. Horton Stock Performance

DHI opened at $167.64 on Wednesday. The stock has a 50-day moving average of $186.47 and a 200-day moving average of $165.44. D.R. Horton has a 52-week low of $111.59 and a 52-week high of $199.85. The company has a market cap of $54.62 billion, a PE ratio of 11.67, a price-to-earnings-growth ratio of 0.57 and a beta of 1.72. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.30 and a current ratio of 7.32.

D.R. Horton (NYSE:DHI) last announced its earnings results on Tuesday, October 29th. The construction company reported $3.92 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $10 billion for the quarter, compared to the consensus estimate of $10.22 billion. During the same quarter in the previous year, the company earned $4.45 EPS. D.R. Horton’s revenue for the quarter was down 4.7% compared to the same quarter last year. As a group, equities research analysts forecast that D.R. Horton will post 15.87 earnings per share for the current fiscal year.

D.R. Horton declared that its Board of Directors has initiated a share buyback program on Thursday, July 18th that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the construction company to purchase up to 6.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

D.R. Horton Increases Dividend

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

Hedge Funds Weigh In On D.R. Horton

A number of hedge funds have recently modified their holdings of DHI. Covestor Ltd raised its position in D.R. Horton by 6.6% in the 3rd quarter. Covestor Ltd now owns 1,064 shares of the construction company’s stock valued at $203,000 after purchasing an additional 66 shares during the last quarter. Atria Investments Inc raised its position in D.R. Horton by 6.4% in the 3rd quarter. Atria Investments Inc now owns 58,847 shares of the construction company’s stock valued at $11,226,000 after purchasing an additional 3,544 shares during the last quarter. Demars Financial Group LLC raised its position in D.R. Horton by 3.5% in the 3rd quarter. Demars Financial Group LLC now owns 2,197 shares of the construction company’s stock valued at $419,000 after purchasing an additional 74 shares during the last quarter. Assetmark Inc. raised its position in D.R. Horton by 4.4% in the 3rd quarter. Assetmark Inc. now owns 460,114 shares of the construction company’s stock valued at $87,776,000 after purchasing an additional 19,511 shares during the last quarter. Finally, Verdence Capital Advisors LLC raised its position in D.R. Horton by 4.8% in the 3rd quarter. Verdence Capital Advisors LLC now owns 2,959 shares of the construction company’s stock valued at $564,000 after purchasing an additional 136 shares during the last quarter. 90.63% of the stock is owned by institutional investors and hedge funds.

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.