D.R. Horton (NYSE:DHI) Lowered to Underweight Rating by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut shares of D.R. Horton (NYSE:DHI) from a neutral rating to an underweight rating in a report issued on Friday morning, Marketbeat.com reports. JPMorgan Chase & Co. currently has $156.00 price objective on the construction company’s stock, down from their previous price objective of $188.00.

Several other equities research analysts have also weighed in on DHI. Keefe, Bruyette & Woods lowered shares of D.R. Horton from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $200.00 to $183.00 in a research note on Tuesday. Citigroup lowered their price target on shares of D.R. Horton from $186.00 to $185.00 and set a “neutral” rating for the company in a research report on Wednesday, October 30th. Wells Fargo & Company reduced their target price on shares of D.R. Horton from $220.00 to $190.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Wedbush raised D.R. Horton from an “underperform” rating to a “neutral” rating and set a $165.00 price target for the company in a research note on Tuesday, October 15th. Finally, Raymond James lowered D.R. Horton from an “outperform” rating to a “market perform” rating in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $180.60.

D.R. Horton Price Performance

Shares of DHI stock opened at $149.85 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 7.32 and a quick ratio of 1.61. D.R. Horton has a 1-year low of $133.02 and a 1-year high of $199.85. The firm has a fifty day moving average of $171.02 and a two-hundred day moving average of $168.78. The firm has a market cap of $48.13 billion, a P/E ratio of 10.44, a P/E/G ratio of 0.57 and a beta of 1.71.

D.R. Horton (NYSE:DHI) last announced its quarterly earnings data on Tuesday, October 29th. The construction company reported $3.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.17 by ($0.25). The firm had revenue of $10 billion for the quarter, compared to analyst estimates of $10.22 billion. D.R. Horton had a net margin of 12.93% and a return on equity of 19.24%. The company’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.45 EPS. As a group, research analysts anticipate that D.R. Horton will post 14.17 earnings per share for the current fiscal year.

D.R. Horton Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Tuesday, November 12th were issued a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $1.60 dividend on an annualized basis and a yield of 1.07%. This is an increase from D.R. Horton’s previous quarterly dividend of $0.30. D.R. Horton’s dividend payout ratio is currently 11.14%.

Insider Activity at D.R. Horton

In other D.R. Horton news, Director Barbara K. Allen sold 5,650 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $163.10, for a total transaction of $921,515.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.74% of the stock is owned by company insiders.

Hedge Funds Weigh In On D.R. Horton

Several large investors have recently bought and sold shares of the stock. Bfsg LLC grew its stake in D.R. Horton by 70.5% during the second quarter. Bfsg LLC now owns 179 shares of the construction company’s stock worth $25,000 after buying an additional 74 shares during the last quarter. Coastline Trust Co acquired a new stake in shares of D.R. Horton during the 3rd quarter worth approximately $26,000. Rakuten Securities Inc. boosted its stake in D.R. Horton by 216.7% in the third quarter. Rakuten Securities Inc. now owns 171 shares of the construction company’s stock valued at $33,000 after acquiring an additional 117 shares during the last quarter. Wolff Wiese Magana LLC raised its position in shares of D.R. Horton by 1,306.7% during the 3rd quarter. Wolff Wiese Magana LLC now owns 211 shares of the construction company’s stock valued at $40,000 after acquiring an additional 196 shares during the last quarter. Finally, Grove Bank & Trust grew its stake in shares of 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 during the period. 90.63% of the stock is currently 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.