M/I Homes, Inc. (NYSE:MHO) Receives Consensus Rating of “Buy” from Analysts

Shares of M/I Homes, Inc. (NYSE:MHO) have been assigned an average rating of “Buy” from the seven analysts that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a hold recommendation, three have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $160.00.

A number of analysts have commented on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of M/I Homes in a report on Wednesday, October 8th. Citizens Jmp started coverage on M/I Homes in a report on Wednesday. They issued a “market outperform” rating and a $165.00 target price on the stock. Raymond James Financial upped their price target on M/I Homes from $150.00 to $155.00 and gave the stock a “strong-buy” rating in a report on Friday, October 24th. Zacks Research raised M/I Homes from a “strong sell” rating to a “hold” rating in a research report on Friday, September 26th. Finally, Citigroup started coverage on M/I Homes in a research note on Wednesday. They set an “outperform” rating on the stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MHO. Salomon & Ludwin LLC purchased a new stake in M/I Homes in the 3rd quarter valued at about $28,000. Jones Financial Companies Lllp grew its holdings in shares of M/I Homes by 73.1% in the third quarter. Jones Financial Companies Lllp now owns 206 shares of the construction company’s stock valued at $30,000 after acquiring an additional 87 shares in the last quarter. Private Trust Co. NA bought a new position in shares of M/I Homes in the third quarter valued at approximately $38,000. EverSource Wealth Advisors LLC increased its position in shares of M/I Homes by 90.6% during the second quarter. EverSource Wealth Advisors LLC now owns 284 shares of the construction company’s stock valued at $32,000 after acquiring an additional 135 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its holdings in M/I Homes by 58.6% during the second quarter. Nomura Asset Management Co. Ltd. now owns 460 shares of the construction company’s stock worth $52,000 after acquiring an additional 170 shares during the period. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

M/I Homes Stock Performance

Shares of MHO opened at $131.86 on Friday. The company has a current ratio of 7.15, a quick ratio of 1.59 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $3.45 billion, a P/E ratio of 7.74 and a beta of 1.75. The firm’s fifty day simple moving average is $130.43 and its two-hundred day simple moving average is $132.59. M/I Homes has a 12 month low of $100.22 and a 12 month high of $158.92.

M/I Homes (NYSE:MHO) last posted its quarterly earnings results on Wednesday, October 22nd. The construction company reported $3.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.37 by ($0.45). M/I Homes had a return on equity of 15.72% and a net margin of 10.56%.The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.16 billion. The business’s revenue for the quarter was down 1.4% on a year-over-year basis. As a group, analysts predict that M/I Homes will post 18.44 EPS for the current year.

M/I Homes announced that its Board of Directors has approved a stock buyback plan on Wednesday, November 12th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the construction company to buy up to 7.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

About M/I Homes

M/I Homes, Inc is a publicly traded residential homebuilder founded in 1976 and headquartered in Columbus, Ohio. The company designs, markets and constructs single-family homes and townhome communities across the United States, offering a range of floor plans with customizable design options. Its product portfolio includes starter homes, move-up homes and luxury models, as well as multi-family residences in urban and suburban infill locations.

In addition to its core homebuilding operations, M/I Homes provides mortgage, title and closing services through its in-house affiliate M/I Financial Services.