Truist Financial Lowers D.R. Horton (NYSE:DHI) Price Target to $140.00

Key Points

• Truist Financial lowered D.R. Horton’s price target from $150 to $140 and maintained a “hold” rating, implying roughly 0.88% downside from the prior close.
• Analyst sentiment remains cautious: five analysts rate the stock a “buy” and ten rate it a “hold,” producing an overall “hold” consensus and an average price target of $165.25.
• D.R. Horton exceeded quarterly expectations with $3.20 in earnings per share versus the $3.02 consensus and revenue of $9.23 billion versus $9.10 billion expected. Institutional investors own approximately 90.63% of the company.

D.R. Horton (NYSE:DHI - Get Free Report) had its target price cut by Truist Financial from $150.00 to $140.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a "hold" rating on the construction company's stock. Truist Financial's target price suggests a potential downside of 0.88% from the stock's previous close.

A number of other equities analysts have also weighed in on DHI. Zelman & Associates upgraded shares of D.R. Horton from a "neutral" rating to an "outperform" rating in a research report on Tuesday, July 7th. Royal Bank Of Canada reiterated a "mixed" rating on shares of D.R. Horton in a report on Wednesday, July 22nd. The Goldman Sachs Group reiterated a "buy" rating on shares of D.R. Horton in a research note on Tuesday, July 21st. Citigroup restated a "neutral" rating on shares of D.R. Horton in a research report on Wednesday, July 22nd. Finally, Keefe, Bruyette & Woods reduced their target price on D.R. Horton from $175.00 to $167.00 and set a "market perform" rating on the stock in a report on Wednesday, July 22nd. Five investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $165.25.

D.R. Horton Price Performance

DHI traded up $1.04 on Wednesday, hitting $141.24. 1,085,055 shares of the company's stock traded hands, compared to its average volume of 2,620,401. The company's 50 day simple moving average is $146.32 and its 200-day simple moving average is $147.48. The company has a current ratio of 6.43, a quick ratio of 1.04 and a debt-to-equity ratio of 0.29. D.R. Horton has a one year low of $131.75 and a one year high of $177.58. The firm has a market cap of $39.50 billion, a price-to-earnings ratio of 13.45, a P/E/G ratio of 2.22 and a beta of 1.37.

D.R. Horton (NYSE:DHI - Get Free Report) last posted its quarterly earnings results on Tuesday, July 21st. The construction company reported $3.20 earnings per share for the quarter, topping the consensus estimate of $3.02 by $0.18. D.R. Horton had a return on equity of 12.47% and a net margin of 9.15%.The business had revenue of $9.23 billion during the quarter, compared to the consensus estimate of $9.10 billion. During the same period in the prior year, the company posted $3.36 EPS. The firm's revenue for the quarter was up .0% compared to the same quarter last year. As a group, research analysts anticipate that D.R. Horton will post 10.45 EPS for the current year.

Hedge Funds Weigh In On D.R. Horton

Several hedge funds have recently added to or reduced their stakes in the company. Reynders McVeigh Capital Management LLC grew its holdings in D.R. Horton by 9.7% in the 2nd quarter. Reynders McVeigh Capital Management LLC now owns 1,966 shares of the construction company's stock valued at $320,000 after buying an additional 174 shares in the last quarter. Rench Wealth Management Inc. boosted its position in shares of D.R. Horton by 5.7% during the 2nd quarter. Rench Wealth Management Inc. now owns 22,353 shares of the construction company's stock valued at $3,641,000 after acquiring an additional 1,196 shares during the last quarter. Tidal Investments LLC boosted its position in shares of D.R. Horton by 18.9% during the 2nd quarter. Tidal Investments LLC now owns 77,024 shares of the construction company's stock valued at $12,546,000 after acquiring an additional 12,228 shares during the last quarter. Van Hulzen Asset Management LLC grew its holdings in shares of D.R. Horton by 80.8% in the second quarter. Van Hulzen Asset Management LLC now owns 8,952 shares of the construction company's stock valued at $1,458,000 after purchasing an additional 4,000 shares during the period. Finally, National Pension Service increased its position in D.R. Horton by 1.8% during the second quarter. National Pension Service now owns 548,363 shares of the construction company's stock worth $89,317,000 after purchasing an additional 9,944 shares during the last quarter. 90.63% of the stock is currently owned by institutional investors.

About D.R. Horton

D.R. Horton, Inc is a residential home construction company that designs, builds and sells single-family homes and townhomes in the United States. Its homes are offered under brands including D.R. Horton, Emerald Homes, Express and Freedom Homes, serving a range of buyers from entry-level and first-time purchasers to move-up and active-adult customers.

In addition to homebuilding, the company operates businesses that support the residential real estate process. These include mortgage financing through DHI Mortgage, title services through DHI Title, and insurance-related services.

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