D.R. Horton (NYSE:DHI) Price Target Raised to $188.00 at JPMorgan Chase & Co.

D.R. Horton (NYSE:DHI) had its target price increased by investment analysts at JPMorgan Chase & Co. from $180.00 to $188.00 in a research report issued on Monday, Benzinga reports. The firm currently has a “neutral” rating on the construction company’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 11.57% from the stock’s current price.

DHI has been the subject of a number of other research reports. Citigroup lowered their target price on D.R. Horton from $186.00 to $185.00 and set a “neutral” rating for the company in a research note on Wednesday, October 30th. JMP Securities raised their price objective on D.R. Horton from $170.00 to $210.00 and gave the company a “market outperform” rating in a research report on Friday, July 19th. Barclays dropped their price objective on shares of D.R. Horton from $200.00 to $192.00 and set an “overweight” rating on the stock in a research note on Thursday. Wells Fargo & Company cut their price target on D.R. Horton from $220.00 to $190.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Finally, Bank of America lifted their price target on D.R. Horton from $196.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. One analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, D.R. Horton currently has a consensus rating of “Moderate Buy” and a consensus price target of $185.87.

D.R. Horton Price Performance

Shares of D.R. Horton stock opened at $168.50 on Monday. The business’s 50-day moving average price is $186.47 and its 200-day moving average price is $165.58. The firm has a market capitalization of $54.90 billion, a PE ratio of 11.73, a price-to-earnings-growth ratio of 0.56 and a beta of 1.74. D.R. Horton has a 12 month low of $116.22 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 for the quarter, missing the consensus estimate of $4.17 by ($0.25). D.R. Horton had a return on equity of 19.24% and a net margin of 12.93%. The business had revenue of $10 billion during the quarter, compared to the consensus estimate of $10.22 billion. During the same period in the prior year, the firm earned $4.45 earnings per share. The business’s revenue for the quarter was down 4.7% on a year-over-year basis. Sell-side analysts forecast that D.R. Horton will post 15.74 EPS for the current fiscal year.

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

Institutional Investors Weigh In On D.R. Horton

Several institutional investors and hedge funds have recently modified their holdings of the stock. Legacy Capital Wealth Partners LLC lifted its position in shares of D.R. Horton by 77.7% in the third quarter. Legacy Capital Wealth Partners LLC now owns 3,394 shares of the construction company’s stock worth $647,000 after buying an additional 1,484 shares in the last quarter. Covestor Ltd increased its stake in D.R. Horton by 6.6% in the 3rd quarter. Covestor Ltd now owns 1,064 shares of the construction company’s stock worth $203,000 after acquiring an additional 66 shares during the last quarter. Atria Investments Inc raised its holdings in shares of D.R. Horton by 6.4% during the 3rd quarter. Atria Investments Inc now owns 58,847 shares of the construction company’s stock worth $11,226,000 after acquiring an additional 3,544 shares in the last quarter. Demars Financial Group LLC boosted its position in shares of D.R. Horton by 3.5% during the 3rd quarter. Demars Financial Group LLC now owns 2,197 shares of the construction company’s stock valued at $419,000 after acquiring an additional 74 shares during the last quarter. Finally, Assetmark Inc. grew its holdings in shares of D.R. Horton by 4.4% in the third 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 in the last quarter. Institutional investors 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.