D.R. Horton Stock Soars to New Peak. Here's Why I'm Doubling Down
With the prospect of lower interest rates ahead, housing stocks are looking up. One beneficiary has been D.R. Horton (NYSE: DHI), which recently saw its shares hit an all-time high. The largest U.S. homebuilder has enjoyed two months of momentum after impressive earnings results and encouraging macroeconomic data.
Some investors might think about selling after the recent gains, but there's still plenty to love about this homebuilder. Here's why.
The housing stock stormed higher in July after a stronger-than-expected earnings report. The company reported 2% sales growth and 5% higher earnings relative to the prior year. D.R. Horton's new orders were relatively weak, and it reduced its full-year sales forecast. However, investors were pleased with the overall outlook thanks to low housing inventories and the prospect of interest rates falling later this year.
Source Fool.com
