D.R. Horton

DHI · NYSE

$140.17+$4.86 (+3.59%)TodayMarket closed · Oct 20, 7:39 PM ET

Prev close $135.31

DHI analyst rating

HoldConsensus of 17 analysts over the last 12 months. 24% rate it a buy.

Strong buy0
Buy4
Hold11
Underperform1
Sell1

12-month price target · 18 analysts

Average $164.46 (+17.3% upside)

Low: $102.01
Now: $140.17
High: $216.30

Upgrades and downgrades

The latest rating actions, newest first

DHI analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Wells Fargo	Oct 16, 2026	Maintains	Equal-Weight	$145.00 → $140.00	47%
StoneX	Oct 16, 2026	Initiates	Hold	—	33%
Citigroup	Oct 15, 2026	Maintains	Neutral	$160.00 → $150.00	56%
RBC Capital	Oct 15, 2026	Maintains	Underperform	$125.00 → $119.00	59%
Melius Research	Oct 6, 2026	Initiates	Sell	$128.00	—
Barclays	Oct 6, 2026	Maintains	Equal-Weight	$141.00 → $130.00	52%
Morgan Stanley	Oct 1, 2026	Initiates	Equal-Weight	$151.00	29%
Evercore ISI Group	Sep 25, 2026	Maintains	In-Line	$177.00 → $166.00	49%
Keefe, Bruyette & Woods	Sep 22, 2026	Maintains	Market Perform	$167.00 → $160.00	51%
Truist Securities	Sep 16, 2026	Maintains	Hold	$150.00 → $140.00	47%

The case for and against

Updated Oct 18, 2026

Bull case

D.R. Horton is well positioned by its decentralized operating model, which lets local managers balance pace, pricing, incentives, and inventory to protect returns while serving 126 markets across 36 states. Its geographic diversification, national purchasing power, preferred supplier relationships, and steady volume help support better pricing, labor and materials access, and more reliable construction cycle times, which is especially valuable in a difficult macro backdrop. Despite weaker orders of 23,084 in 3Q'26, the company still produced $3.20 EPS versus $2.97 expected, and management’s stable margins plus reduced share count support an estimated 3% EPS advance to $10.75 in fiscal 2027 on $32.7 billion of revenue.

Bear case

D.R. Horton is facing a weakening operating backdrop as third-quarter home sales revenue was $8.7 billion on 23,983 closings, while net income fell 11% year over year, EPS declined 5%, and cancellations rose to 20% from 17%. Management also lowered guidance on revenues and deliveries, and the outlook implies homes delivered could fall below fiscal 2026 levels and continue declining through 2027 as affordability pressure from high mortgage rates and elevated costs limits demand. Although liquidity of $6.1 billion and book value per share of $84.85 support the balance sheet, the high exposure to entry-level buyers and softer order trends suggest margins and volumes remain vulnerable.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.