D.R. Horton (NYSE:DHI) Shares Break Above 200-Day Moving Average Following Analyst Downgrade

D.R. Horton, Inc. (NYSE:DHI) passed above its two hundred day moving average during trading on Monday after Citigroup raised their price target on the stock from $150.00 to $152.00. The stock has a two hundred day moving average of $147.66 and traded as high as $153.53. Citigroup currently has a neutral rating on the stock. D.R. Horton shares last traded at $152.9060, with a volume of 3,191,507 shares traded.

A number of other research firms have also recently weighed in on DHI. BTIG Research reaffirmed a “buy” rating and issued a $174.00 price objective (down from $184.00) on shares of D.R. Horton in a report on Tuesday, September 22nd. Weiss Ratings upgraded shares of D.R. Horton from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 15th. Keefe, Bruyette & Woods cut their price target on D.R. Horton from $160.00 to $152.00 in a report on Thursday, October 22nd. Melius Research initiated coverage on D.R. Horton in a research report on Tuesday, October 6th. They set a “sell” rating and a $128.00 price objective for the company. Finally, Bank of America reduced their price objective on D.R. Horton from $150.00 to $145.00 in a research report on Wednesday, October 7th. Five equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $152.73.

Institutional Trading of D.R. Horton

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in D.R. Horton during the second quarter worth approximately $4,067,842,000. Bank of America Corp DE raised its stake in shares of D.R. Horton by 10.7% in the 1st quarter. Bank of America Corp DE now owns 3,226,686 shares of the construction company’s stock worth $442,766,000 after buying an additional 312,303 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of D.R. Horton by 0.7% in the first quarter. Dimensional Fund Advisors LP now owns 3,081,672 shares of the construction company’s stock valued at $422,734,000 after buying an additional 21,514 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of D.R. Horton by 4.4% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,903,786 shares of the construction company’s stock valued at $472,969,000 after buying an additional 122,434 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in D.R. Horton by 2.3% during the first quarter. Principal Financial Group Inc. now owns 2,155,581 shares of the construction company’s stock valued at $295,789,000 after buying an additional 48,723 shares in the last quarter. 90.63% of the stock is currently owned by institutional investors.

D.R. Horton Price Performance

The company has a 50 day moving average of $140.85 and a two-hundred day moving average of $147.66. The firm has a market cap of $42.77 billion, a P/E ratio of 15.08, a PEG ratio of 2.23 and a beta of 1.35. The company has a quick ratio of 1.04, a current ratio of 6.43 and a debt-to-equity ratio of 0.29.

D.R. Horton (NYSE:DHI) last issued its quarterly earnings results on Thursday, October 29th. The construction company reported $2.67 EPS for the quarter, missing the consensus estimate of $3.01 by ($0.34). D.R. Horton had a return on equity of 12.47% and a net margin of 9.15%. The business had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $9.07 billion. During the same quarter last year, the firm posted $3.04 earnings per share. D.R. Horton’s revenue was down 3.2% compared to the same quarter last year. Sell-side analysts expect that D.R. Horton, Inc. will post 11.35 EPS for the current year.

D.R. Horton Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Thursday, November 12th will be issued a dividend of $0.50 per share. The ex-dividend date is Thursday, November 12th. This is a positive change from D.R. Horton’s previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a yield of 1.3%. D.R. Horton’s payout ratio is 17.75%.

About D.R. Horton

D.R. Horton, Inc is a residential construction company that builds and sells single-family detached and attached homes in the United States. Its offerings include entry-level, move-up, luxury and active-adult housing, serving a range of homebuyers through brands such as D.R. Horton, Express Homes, Emerald Homes and Freedom Homes.

The company’s operations also include land acquisition and development, home financing and title services. Through subsidiaries and affiliated businesses, D.R.