Bank of America Corp. upgraded shares of D.R. Horton Inc. (NYSE:DHI) from a neutral rating to a buy rating in a research note released on Tuesday morning. The brokerage currently has $36.00 price objective on the stock, up from their prior price objective of $35.05.

“relatively small,” but it was a “positive.,” the firm’s analyst wrote.

Other research analysts have also issued research reports about the company. Royal Bank Of Canada increased their price objective on D.R. Horton from $36.00 to $38.00 and gave the company an outperform rating in a report on Monday, July 18th. Argus reissued a buy rating and set a $39.00 price objective on shares of D.R. Horton in a report on Tuesday, July 26th. JMP Securities reissued a buy rating and set a $36.00 price objective on shares of D.R. Horton in a report on Wednesday, June 15th. Credit Suisse Group AG reissued a hold rating on shares of D.R. Horton in a report on Tuesday, June 28th. Finally, RBC Capital Markets reissued an outperform rating and set a $38.00 price objective (up previously from $36.00) on shares of D.R. Horton in a report on Tuesday, July 19th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. D.R. Horton currently has an average rating of Hold and an average target price of $32.35.

Shares of D.R. Horton (NYSE:DHI) opened at 29.97 on Tuesday. The company’s 50 day moving average price is $32.14 and its 200 day moving average price is $31.05. The firm has a market capitalization of $11.16 billion, a price-to-earnings ratio of 13.33 and a beta of 1.36. D.R. Horton has a 52-week low of $22.97 and a 52-week high of $34.56.

D.R. Horton (NYSE:DHI) last issued its earnings results on Thursday, July 21st. The company reported $0.66 earnings per share for the quarter, hitting the consensus estimate of $0.66. D.R. Horton had a return on equity of 13.71% and a net margin of 7.26%. The company had revenue of $3.15 billion for the quarter, compared to analyst estimates of $3.25 billion. During the same period in the prior year, the firm posted $0.60 EPS. The business’s revenue was up 12.4% compared to the same quarter last year. Analysts forecast that D.R. Horton will post $2.38 earnings per share for the current year.

In other D.R. Horton news, Director Michael R. Buchanan sold 12,000 shares of D.R. Horton stock in a transaction on Monday, July 25th. The stock was sold at an average price of $33.80, for a total value of $405,600.00. Following the completion of the transaction, the director now owns 12,940 shares in the company, valued at approximately $437,372. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Barbara K. Allen sold 3,333 shares of D.R. Horton stock in a transaction on Friday, July 22nd. The shares were sold at an average price of $33.95, for a total value of $113,155.35. Following the completion of the transaction, the director now owns 8,983 shares of the company’s stock, valued at approximately $304,972.85. The disclosure for this sale can be found here. Corporate insiders own 7.17% of the company’s stock.

A number of institutional investors have recently modified their holdings of the stock. Macquarie Group Ltd. increased its position in shares of D.R. Horton by 5.3% in the second quarter. Macquarie Group Ltd. now owns 304,241 shares of the company’s stock valued at $9,578,000 after buying an additional 15,440 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of D.R. Horton during the second quarter valued at about $420,000. Kentucky Retirement Systems acquired a new position in shares of D.R. Horton during the second quarter valued at about $884,000. Mason Street Advisors LLC acquired a new position in shares of D.R. Horton during the second quarter valued at about $1,400,000. Finally, Optimum Investment Advisors increased its position in shares of D.R. Horton by 16.9% in the second quarter. Optimum Investment Advisors now owns 15,185 shares of the company’s stock valued at $478,000 after buying an additional 2,200 shares during the last quarter. Hedge funds and other institutional investors own 83.57% of the company’s stock.

D.R. Horton Company Profile

D.R. Horton, Inc is a homebuilding company. The Company is engaged in the acquisition and development of land and the construction and sale of residential homes, through its operating divisions in around 27 states and over 79 metropolitan markets of the United States, under the names of D.R. Horton, America’s Builder, Express Homes, Emerald Homes, Breland Homes, Regent Homes, Crown Communities and Pacific Ridge Homes.

5 Day Chart for NYSE:DHI

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