M/I Homes (NYSE:MHO) Stock Gets Price Target Trim from Freedom Broker

M/I Homes (NYSE:MHO) had its price target decreased by Freedom Broker from $172.00 to $155.00 in a report published on Friday morning,Benzinga reports. Freedom Broker currently has a buy rating on the construction company’s stock.

A number of other brokerages have also weighed in on MHO. Citigroup reaffirmed a “market outperform” rating on shares of M/I Homes in a research note on Thursday, October 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of M/I Homes in a research note on Wednesday, August 12th. Jefferies Financial Group set a $165.00 target price on M/I Homes in a report on Thursday, October 8th. Zacks Research cut M/I Homes from a “hold” rating to a “strong sell” rating in a report on Wednesday, September 9th. Finally, Zelman & Associates downgraded M/I Homes from an “outperform” rating to a “neutral” rating in a research report on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $164.40.

M/I Homes Stock Performance

MHO stock opened at $124.14 on Friday. The company has a market capitalization of $3.14 billion, a P/E ratio of 11.80 and a beta of 1.60. The company has a 50-day simple moving average of $138.71 and a 200 day simple moving average of $139.76. M/I Homes has a fifty-two week low of $113.40 and a fifty-two week high of $163.66. The company has a quick ratio of 1.36, a current ratio of 7.09 and a debt-to-equity ratio of 0.29.

M/I Homes (NYSE:MHO) last announced its earnings results on Wednesday, October 21st. The construction company reported $2.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.25 by ($0.55). The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.11 billion. M/I Homes had a net margin of 6.59% and a return on equity of 10.12%. The business’s quarterly revenue was down 1.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.92 EPS. Sell-side analysts predict that M/I Homes will post 12.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In other M/I Homes news, CFO Phillip Creek sold 10,000 shares of the business’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $151.28, for a total value of $1,512,800.00. Following the sale, the chief financial officer directly owned 30,918 shares in the company, valued at approximately $4,677,275.04. The trade was a 24.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On M/I Homes

Several large investors have recently made changes to their positions in the business. BlackRock Inc. acquired a new stake in shares of M/I Homes in the second quarter worth $769,776,000. Donald Smith & CO. Inc. bought a new stake in shares of M/I Homes during the second quarter valued at approximately $223,736,000. Bank of America Corp DE acquired a new stake in M/I Homes during the second quarter worth $31,561,000. Bank of New York Mellon Corp acquired a new stake in shares of M/I Homes during the 2nd quarter valued at about $30,032,000. Finally, Basswood Capital Management L.L.C. bought a new stake in shares of M/I Homes in the 2nd quarter valued at approximately $21,926,000. Institutional investors 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 single-family homes for a range of buyers, including first-time, move-up and luxury-home purchasers. Its operations include land acquisition and development, home design, construction, marketing and sales, with communities offered in suburban and metropolitan markets.

The company also provides services that support the homebuying process, including mortgage financing through M/I Financial and title-related services through its affiliated operations.