Boston, MA 07/18/2013 (wallstreetpr) - The home building stock with operations spread across the metropolitan markets of the United States, D.R. Horton Inc. (NYSE:DHI) had recently been making significant gain in share prices especially owing to the recent drop in the interest rates of loans. This had also affected other companies in the home building sector which are all moving in green in the recent trading sessions. Analysts at Zacks had reported that the stock is presently a good buy for the investors who look out to earn short term returns from the market.
The equity research analysts had fixed up a consensus estimate of around $1.25 per share as EPS for the home building stock for this quarter, which was observed to be an increase of $0.08 per share over the previous estimates. However, the stock had recently entered into the oversold zone as reflected from its Relative Strength Index chart and the analysts had thereby accorded a strong buy rating to the stock. Decline in interest rates of home loans coupled with the increase in prices of buildings in the construction industry had all enabled the home building stocks to gain significantly in the recent days.
There had been a gain of 2.26% in the shares of D.R. Horton Inc., which closed at $22.19 per share on Wednesday. The stock had presented intraday fluctuations on the range of $21.20 to $22.25 per share, after opening at $21.65 for the day. The company had recorded 52 week low at $16.93 and 52 week high at $27.75 per share. There are 322.26 million shares outstanding with a market cap of $7.15 billion and an institutional ownership of 90% of the total capital. The trading volume on Wednesday was 9.13 million shares and the average volume is at 8.33 million shares per day.