M/I Homes, Inc. (NYSE:MHO) Receives $164.25 Consensus PT from Brokerages

Shares of M/I Homes, Inc. (NYSE:MHO) have been given a consensus recommendation of “Moderate Buy” by the seven ratings firms that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, two have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $164.25.

Several research analysts have recently commented on the stock. New Street Research set a $172.00 price target on shares of M/I Homes in a report on Tuesday, August 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of M/I Homes in a research note on Wednesday, August 12th. Zelman & Associates cut shares of M/I Homes from an “outperform” rating to a “neutral” rating in a report on Tuesday, July 7th. Zacks Research downgraded M/I Homes from a “hold” rating to a “strong sell” rating in a research note on Wednesday, September 9th. Finally, Freedom Capital raised M/I Homes to a “strong-buy” rating in a report on Wednesday, June 24th.

M/I Homes Stock Performance

Shares of MHO opened at $138.78 on Wednesday. The stock has a market capitalization of $3.51 billion, a PE ratio of 11.68 and a beta of 1.61. The business’s fifty day moving average price is $148.26 and its 200 day moving average price is $139.16. The company has a debt-to-equity ratio of 0.29, a current ratio of 7.65 and a quick ratio of 1.69. M/I Homes has a 12-month low of $116.78 and a 12-month high of $163.66.

M/I Homes (NYSE:MHO) last released its earnings results on Wednesday, July 29th. The construction company reported $3.14 earnings per share for the quarter, beating the consensus estimate of $3.13 by $0.01. M/I Homes had a net margin of 7.44% and a return on equity of 11.53%. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the previous year, the firm earned $4.42 earnings per share. The firm’s revenue for the quarter was down 6.0% compared to the same quarter last year. Equities research analysts forecast that M/I Homes will post 12.12 EPS for the current year.

Insider Transactions at M/I Homes

In related news, CFO Phillip Creek sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $149.56, for a total transaction of $2,991,200.00. Following the completion of the transaction, the chief financial officer owned 30,918 shares in the company, valued at $4,624,096.08. The trade was a 39.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On M/I Homes

Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of M/I Homes in the 2nd quarter worth about $769,776,000. Donald Smith & CO. Inc. acquired a new position in M/I Homes during the 2nd quarter valued at about $223,736,000. Junto Capital Management LP grew its position in M/I Homes by 3.1% in the 2nd quarter. Junto Capital Management LP now owns 338,298 shares of the construction company’s stock worth $54,395,000 after purchasing an additional 10,047 shares during the last quarter. Royce & Associates LP grew its position in M/I Homes by 5.3% in the 4th quarter. Royce & Associates LP now owns 326,606 shares of the construction company’s stock worth $41,789,000 after purchasing an additional 16,445 shares during the last quarter. Finally, Bank of America Corp DE acquired a new stake in shares of M/I Homes in the second quarter valued at approximately $31,561,000. Institutional investors and hedge funds own 95.14% of the company’s stock.

About M/I Homes

M/I Homes, Inc is a residential construction company that builds and sells new single-family homes. Its operations include land acquisition and development, home design and construction, sales and marketing, and customer service. The company offers homes in a range of designs and price points, with options and features that can be customized by buyers in many communities.

M/I Homes also provides complementary services through affiliated operations, including mortgage financing and title services.