NEW YORK (TheStreet) -- Shares of D.R. Horton (DHI) finished the day in the red, down by 0.22% to $26.65 on heavy volume on Monday afternoon, as the home builder seemed to miss out on the rally enjoyed by its peers.
Some home builders were jumping today thanks to data from the National Association of Home Builders/Wells Fargo, which showed confidence among home builders spiked by five points to 59 in June, a nine-month high, MarketWatch reports.
Economists were expecting the confidence gauge to show a reading of 55.
Readings above the 50 mark indicate that home builders are encouraged by sales trends.
D.R. Horton operates by constructing and selling homes through its various operating divisions. The company can be found in 27 states in 79 markets under the names D.R. Horton, America's Builder, Express Homes, Emerald Homes, Breland Homes, Regent Homes and Crown Communities.
Separately, TheStreet Ratings team rates D R HORTON INC as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate D R HORTON INC (DHI) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, good cash flow from operations and solid stock price performance. We feel its strengths outweigh the fact that the company has had somewhat disappointing return on equity."