D.R. Horton (DHI) is Upgraded by BofA/Merrill to Buy

D.R. Horton (DHI) was Upgraded by BofA/Merrill to ” Buy”. Earlier the firm had a rating of “Neutral ” on the company shares. BofA/Merrill advised their investors in a research report released on Sep 13, 2016.

Many Wall Street Analysts have commented on D.R. Horton. D.R. Horton was Downgraded by BofA/Merrill to ” Neutral” on Jul 22, 2016. Company shares were Reiterated by RBC Capital Mkts on Jul 18, 2016 to “Outperform”, Firm has raised the Price Target to $ 38 from a previous price target of $36 .

On the company’s financial health, D.R. Horton reported $0.66 EPS for the quarter, based on the information available during the earnings call on Jul 21, 2016. Analyst had a consensus estimate of $0.66. The company had revenue of $3148.80 million for the quarter, compared to analysts expectations of $3276.00 million. The company’s revenue was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.60 EPS.

D.R. Horton opened for trading at $29.98 and hit $30.73 on the upside on Monday, eventually ending the session at $30.57, with a gain of 1.16% or 0.35 points. The heightened volatility saw the trading volume jump to 5,251,585 shares. Company has a market cap of $11,381 M.

In a different news, on Sep 2, 2016, Michael W Hewatt (director) sold 5,000 shares at $31.87 per share price. According to the SEC, on May 3, 2016, Michael J Murray (EVP and COO) sold 2,944 shares at $30.34 per share price. On May 3, 2016, Donald R Horton (Chairman) sold 149,035 shares at $29.88 per share price, according to the Form-4 filing with the securities and exchange commission.

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. The Company operates through two segments: homebuilding and financial services operation. The Company designs builds and sells single-family detached homes on lots it develops and on fully developed lots purchased ready for home construction. To a lesser extent the Company builds and sells attached homes such as town homes duplexes triplexes and condominiums. The Company sells land and lots to other developers and homebuilders where it has excess land and lot positions or for other strategic reasons.

D.R. Horton

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