Today’s big question for investors is, “what’s going on with D.R. Horton, Inc. (NYSE:DHI) stock? Its price is jumping 1.43 points, trading at $59.94 levels, and is up 2.44% from its previous close of $58.51. The shares seem to have an active trading volume day with a reported 3319656 contracts so far this session. DHI shares had a relatively better volume day versus average trading capacity of 4.27 million shares, but with a 0.34 billion float and a 5.65% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for DHI stock indicates that the average analyst price target is $58.81 per share. This means the stock has a potential decrease of -1.89% from where the DHI share price has been trading recently.
During the recent trading session for D.R. Horton, Inc. (NYSE:DHI), the company witnessed their stock rise $4.31 over a week and surge $7.01 from the price 20 days ago. When compared to their established 52-week high of $60.95, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 01/27/20. The recent low of $34.96 stood for a 0.13% since 01/29/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0.96 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for D.R. Horton, Inc., the two-week RSI stands at 77.5. This figure suggests that DHI stock, for now, is oversold, meaning that the shares are not stable in terms of price movement. The stochastic readings, on the other hand, based on the current DHI readings is similarly very revealing as it has a stochastic reading of 88.57% at this stage. This figure means that DHI share price today is being oversold.
Technical chart claims that D.R. Horton, Inc. (DHI) would settle between $59.57/share to $60.63/share level. However, if the stock price goes below the $57.74 mark, then the market for D.R. Horton, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $56.97 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 2.26. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Raymond James raised their recommendation on shares of DHI from Mkt Perform to Outperform in their opinion released on January 07. Evercore ISI analysts have lowered their rating of D.R. Horton, Inc. (NYSE:DHI) stock from In-line to Underperform in a separate flash note issued to investors on January 06. Analysts at RBC Capital Mkts lowered the stock to a Underperform call from its previous Sector Perform recommendation, in a research note that dated back to December 17.
DHI equity has an average rating of 2.35, with the figure leaning towards a bullish end. 17 analysts who tracked the company were contacted by Reuters. Amongst them, 5 rated the stock as a hold while the remaining 12 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while others rated it as a sell. 10 analysts rated D.R. Horton, Inc. (NYSE:DHI) as a buy or a strong buy while 2 advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, DHI stock price is currently trading at 11.12X forward 12-month Consensus EPS estimates, and its P/E ratio is 13.6 while for the average stock in the same group, the multiple is 13.4. D.R. Horton, Inc. current P/B ratio of 2.2 means it is trading at a premium against its industry’s 1.9.