D.R. Horton at Two-Month High on Housing Market: Houston Mover

D.R. Horton Inc. (DHI), a Fort Worth, Texas-based homebuilder, rose to the highest level in two months on reports showing an improving housing market.

D.R. Horton rose 58 cents, or 2.8 percent, to $21.31 at 12:47 p.m. in New York. The intraday high of $21.41 was the highest price since Nov. 8. The shares have gained 64 percent in the past year.

The number of “improving” housing markets rose for the fifth straight month in January to 242, according to the National Association of Home Builders/First American Improving Markets Index released Jan. 7.

The company is scheduled to announce earnings for the first quarter of 2013 before the market opens on Jan. 29. Earnings are expected to be 15 cents a share in the first quarter and 17 cents in the second, based on the median analyst estimate.

The average analyst 12-month target price forecast for D.R. Horton is $21.62. The company has nine buy ratings from analysts, 14 holds and two sells.

To contact the reporter on this story: Richard Stubbe in Houston at rstubbe1@bloomberg.net

To contact the editor responsible for this story: Dan Stets at dstets@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.