M/I Homes, Inc. (NYSE:MHO) Stock Has Consensus Target Price of $164.40 According to Analysts

M/I Homes, Inc. (NYSE:MHO) has been assigned an average recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $164.40.

Several brokerages recently weighed in on MHO. Zelman & Associates cut M/I Homes from an “outperform” rating to a “neutral” rating in a research report on Tuesday, July 7th. New Street Research set a $172.00 price objective on M/I Homes in a research report on Tuesday, August 4th. Citigroup restated a “market outperform” rating on shares of M/I Homes in a research report on Thursday, October 8th. Zacks Research cut shares of M/I Homes from a “hold” rating to a “strong sell” rating in a research note on Wednesday, September 9th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of M/I Homes in a research note on Wednesday, August 12th.

Insider Activity

In related news, CFO Phillip Creek sold 20,000 shares of the stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $149.56, for a total transaction of $2,991,200.00. Following the sale, the chief financial officer directly owned 30,918 shares of the company’s stock, valued at approximately $4,624,096.08. This represents a 39.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 3.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in M/I Homes in the 2nd quarter worth $769,776,000. Donald Smith & CO. Inc. purchased a new position in M/I Homes during the second quarter valued at $223,736,000. Junto Capital Management LP lifted its holdings in M/I Homes by 3.1% during the second quarter. Junto Capital Management LP now owns 338,298 shares of the construction company’s stock valued at $54,395,000 after purchasing an additional 10,047 shares in the last quarter. Bank of America Corp DE purchased a new position in M/I Homes during the second quarter valued at $31,561,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of M/I Homes in the second quarter valued at about $30,032,000. Hedge funds and other institutional investors own 95.14% of the company’s stock.

M/I Homes Price Performance

Shares of MHO opened at $126.25 on Friday. The business’s 50-day moving average is $143.22 and its two-hundred day moving average is $139.68. The company has a market capitalization of $3.19 billion, a P/E ratio of 9.19 and a beta of 1.60. M/I Homes has a fifty-two week low of $116.78 and a fifty-two week high of $163.66. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.69 and a current ratio of 7.65.

M/I Homes (NYSE:MHO) last issued its quarterly earnings data on Wednesday, July 29th. The construction company reported $3.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.13 by $0.01. M/I Homes had a return on equity of 11.53% and a net margin of 7.44%. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the previous year, the firm posted $4.42 EPS. The company’s revenue for the quarter was down 6.0% on a year-over-year basis. Research analysts predict that M/I Homes will post 12.12 earnings per share for the current year.

About M/I Homes

M/I Homes, Inc is a homebuilder that constructs and sells single-family homes for a range of buyers, including first-time, move-up and luxury customers. The company offers homes in multiple designs and price ranges, with options that may include different floor plans, elevations, finishes and features. Its operations also include land acquisition, development of residential communities and the construction of homes on customer-owned lots.

Founded in 1976 by Irving and Melvin Schottenstein, M/I Homes is headquartered in Columbus, Ohio.