M/I Homes, Inc. (NYSE:MHO) Receives $161.67 Consensus PT from Analysts

M/I Homes, Inc. (NYSE:MHO) has received a consensus recommendation of “Moderate Buy” from the six brokerages that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among analysts that have covered the stock in the last year is $161.6667.

Several equities analysts recently issued reports on the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of M/I Homes in a report on Thursday, January 22nd. Citizens Jmp began coverage on M/I Homes in a research report on Wednesday, January 7th. They issued a “market outperform” rating and a $165.00 price target for the company. Citigroup reiterated a “market outperform” rating on shares of M/I Homes in a research report on Friday, January 30th. Zacks Research cut shares of M/I Homes from a “hold” rating to a “strong sell” rating in a research note on Friday, January 30th. Finally, Raymond James Financial raised their target price on shares of M/I Homes from $150.00 to $155.00 and gave the company a “strong-buy” rating in a report on Friday, October 24th.

M/I Homes Trading Up 1.6%

Shares of MHO opened at $140.96 on Tuesday. M/I Homes has a twelve month low of $100.22 and a twelve month high of $158.92. The company has a current ratio of 7.54, a quick ratio of 1.72 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $3.69 billion, a P/E ratio of 9.58 and a beta of 1.77. The firm’s 50-day moving average is $133.26 and its two-hundred day moving average is $135.51.

M/I Homes (NYSE:MHO) last posted its quarterly earnings results on Wednesday, January 28th. The construction company reported $3.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.88 by $0.03. The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.16 billion. M/I Homes had a net margin of 9.12% and a return on equity of 14.50%. The company’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same period last year, the firm earned $4.71 EPS. On average, research analysts predict that M/I Homes will post 18.44 earnings per share for the current fiscal year.

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

Insider Buying and Selling at M/I Homes

In other news, insider Susan E. Krohne sold 5,000 shares of the company’s stock in a transaction on Friday, January 30th. The stock was sold at an average price of $134.28, for a total value of $671,400.00. Following the sale, the insider directly owned 6,167 shares in the company, valued at $828,104.76. This represents a 44.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Salomon & Ludwin LLC acquired a new stake in shares of M/I Homes during the 3rd quarter worth about $28,000. Jones Financial Companies Lllp boosted its position in M/I Homes by 73.1% during the third quarter. Jones Financial Companies Lllp now owns 206 shares of the construction company’s stock worth $30,000 after acquiring an additional 87 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in M/I Homes by 90.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 284 shares of the construction company’s stock worth $32,000 after acquiring an additional 135 shares during the period. Private Trust Co. NA acquired a new position in M/I Homes in the 3rd quarter valued at $38,000. Finally, Nomura Asset Management Co. Ltd. lifted its stake in shares of M/I Homes by 58.6% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 460 shares of the construction company’s stock worth $52,000 after purchasing 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 Company Profile

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.